Wells Fargo & Co. reported higher first-quarter profits on Friday as the bank posted strong mortgage banking results and set aside less money for bad loans.
Wells Fargo, the nation’s fourth-biggest U.S. bank, said net income was $4.25-billion (U.S.), or 75 cents a share, in the quarter, compared with $3.76-billion, or 67 cents, a share in the same period a year earlier.
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