Wells Fargo says ‘primary focus’ is growing all businesses domestically

Says ‘very happy’ with Q3 results. Says results benefited from investments made in prior years. Says loan growth accelerated in Q3. Says credit performance ‘was strong and continued to improve’. Says Wells Fargo (WFC) ‘positioned for continued higher growth and returns.’ Says primary opportunity and focus is growing all businesses domestically. Says targeted investments in areas with higher growth and returns. Says starting to grow balance sheet following lifting of asset cap. Says investing in branch network and remain on track to have half of network refurbished by end of this year. Says focused on better penetrating consumer and wealth management client base. Says focused on growing deposits in commercial banking. Says targeted 19 high-density markets for growth. Says investing to grow corporate and investment bank. Says starting to see benefits from Wells Fargo Premier. Says continues to generate more excess capital. Says believes dividend payout ratio of 30%-40% remains appropriate. Comments taken from Q3 earnings conference call.