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(Bloomberg) — Wells Fargo & Co. hasn’t yet anchored all of its problems, but at atomic it chock-full its acquirement slump.

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The coffer acquaint a abruptness access in revenue, with the amount ascent to $21.9 billion in the third quarter, afterwards analysts accepted a slight decline. The coffer benefited from ascent absorption ante and saw advance in consumer-lending originations in areas such as auto and claimed loans, it said in a account Friday.

It’s the aboriginal time this year acquirement has developed and may announce that Chief Executive Officer Tim Sloan’s efforts to about-face Wells Fargo about are advantageous off. The lender has acquaint aerial after-effects in the deathwatch of a alternation of customer scandals that erupted in 2016 aback the coffer appear it may accept opened millions of accounts on account of barter who didn’t appetite them, and the Federal Reserve has banned Wells Fargo from accretion assets until missteps are anchored to the regulator’s satisfaction.

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Wells Fargo “has been able to put a cardinal of the scandals it has been bedeviled by abaft it,” Octavio Marenzi, CEO of capital-markets administration consultancy Opimas, said in an email. Third-quarter balance “look solid all-embracing — acceptable absorption margins, and low charge-offs. A billow on the border is the bank’s blooper in deposits, which accept beneath by 3 percent. So far, the coffer has been able to accumulate net absorption assets increasing.”

Shares of San Francisco-based Wells Fargo climbed 1.6 percent to $52.28 at 11 a.m. in New York. They accept alone 14 percent this year, compared with a 5.3 percent abatement in the KBW Coffer Index.

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“We saw absolute business trends in the third quarter, including advance in primary customer blockage customers, added debit and acclaim agenda usage, and college year-over-year accommodation originations in auto, baby business, home disinterestedness and claimed loans and lines,” Chief Banking Officer John Shrewsberry said in the statement.

Still, net assets rose beneath than analysts expected. It climbed to $6 billion, or $1.13 a share, missing the $1.18-a-share boilerplate appraisal of 28 analysts in a Bloomberg survey.

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“All things considered, we anticipation the division was appropriate accustomed area WFC stands today,” Piper Jaffray analyst Kevin J. Barker, who has a aloof appraisement on Wells Fargo shares, said in a agenda to investors Friday morning.

Average deposits at Wells Fargo fell to $1.3 trillion, bottomward $40 billion from a year earlier, as “consumers connected to move balance clamminess to higher-rate alternatives,” the coffer said. Total boilerplate loans fell to $939.5 billion, bottomward $12.9 billion, or 1 percent, the everyman akin in added than two years.

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The bead shows that Wells Fargo is still disturbing to animation aback from the customer scandals it has been alive through over the accomplished two years. By comparison, JPMorgan Chase & Co. saw an access in both categories. At a September broker conference, Shrewsberry attributed the bead in loans to antagonism beyond customer and bartering categories.

Wells Fargo’s accouterment amount and net charge-offs both fell from a year earlier, as they did at JPMorgan. Improvement of the metrics beyond the better customer banks suggests there is still activity to the accepted acclaim cycle, alike as abounding beyond the banking arrangement catechism how continued the amplification can last.

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(Updates with allotment amount in fifth paragraph, analyst animadversion in eighth.)

To acquaintance the anchorman on this story: Hannah Levitt in New York at [email protected]

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To acquaintance the editors amenable for this story: Michael J. Moore at [email protected], Daniel Taub, Steve Dickson

For added accessories like this, amuse appointment us at bloomberg.com

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