Wells Fargo 2Q profit falls 3 percent to $5.56 billion

July 15, 2016 12:33 PM

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Wells Fargo on Friday said its second-quarter profit fell 3 percent as the bank more than tripled the money it set aside for bad loans.

The San Francisco-based bank posted a profit of $5.6 billion, or $1.01 per share, in the second quarter, compared with net income of $5.72 billion, or $1.03 per share, a year earlier.

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