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Wells Fargo Net Up 20%

Fourth-quarter profit at Wells Fargo rose 20% as the banking giant posted more loan growth and again reduced the amount of money it sets aside to cover potential loan losses.

 

Wells Fargo 4Q profit up, aided by lower reserves

Wells Fargo & Co. says its fourth-quarter profit shot up, as it was able to lower the amount of reserves set aside to cover souring loans.

 

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