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Wells Fargo profit inches up, helped by GE loan book

A woman exits a Wells Fargo ATM in the Manhattan borough of New York, October 10, 2015.

Wells Fargo & Co (WFC.N), the biggest U.S. residential mortgage lender, reported a rise in quarterly profit for the first time in three quarters on Wednesday, helped by its purchase of commercial loans from General Electric Co (GE.N).

Net income applicable to common shareholders rose 0.65 percent to $5.44 billion, or $1.05 per share, in the third quarter ended Sept. 30 from $5.41 billion, or $1.02 per share, a year earlier, the No. 4 U.S. bank by assets said.

Analysts on average had expected...