A flat fourth quarter for Wells Fargo
Wells Fargo & Co.’s profit was flat in the fourth quarter and its revenue rose only slightly as the bank grappled with the strains on loans in the oil and gas industry, The New York Times reported. The bank, based in San Francisco, said on Friday that its net income of $5.7 billion was about the same as a year ago. Measured on a per-share basis, Wells Fargo’s profits rose about 1 percent, to $1.03.
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