. .

Wells Fargo 3Q profit rises

Wells Fargo 3Q profit rises

San Francisco-based Wells Fargo's profit rose to 2.6 billion, 56 cents per share in the third quarter this year, up from $1.6 billion, 49 cents per share in the third quarter last year.  The bank's credit losses increased to $5.1 billion,  2.5 percent of total loans in the third quarter this year from $2 billion a year ago.  

Net interest income rose to $5.57 billion , up 43 percent .  Noninterest income increased to $10.78, more than tripled from a year ago. 

Total revenue more than doubled to $22.47 billion. The numbers are above analysts' estimations that projected earnings of 37 cents per share.          

SF Gate-10/21/2009