Wells Fargo has reported higher earnings for the second quarter thanks to a pickup in lending and a decline in the amount of bad loans.
The San Francisco-based bank's net income rose 18% to $4.4 billion, compared to $3.7 billion in the same period a year ago.
Revenue of $21.3 billion was in line with analysts' expectations.
Wells Fargo's said that its total loans grew. Commercial and industrial loans increased, and the bank reported a record amount mortgage applications.
Delinquent loans fell and the bank said it had released some of the reserves it had set aside to cover bad loans.
