Wells Fargo: net profit soars in Q1
(CercleFinance.com) - Wells Fargo has reported Q1 2021 net income of 4.
7 billion dollars, up a massive 626% y-o-y (653 million dollars).
Note that Q1 2020 was badly hit by the start of the Covid pandemic.
Q1 2021 EPS therefore reached 1.05 dollar, well above the EPS recorded a year ago (just one cent).
At the end of the first three months of the year, Wells Fargo's net banking income finally reached 18 billion dollars, up 2%.
According to the bank's CEO, Charlie Scharf, these results reflect the upturn in the US economy, despite the low interest rates and weak demand for loans, which affected the bank throughout the quarter.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
7 billion dollars, up a massive 626% y-o-y (653 million dollars).
Note that Q1 2020 was badly hit by the start of the Covid pandemic.
Q1 2021 EPS therefore reached 1.05 dollar, well above the EPS recorded a year ago (just one cent).
At the end of the first three months of the year, Wells Fargo's net banking income finally reached 18 billion dollars, up 2%.
According to the bank's CEO, Charlie Scharf, these results reflect the upturn in the US economy, despite the low interest rates and weak demand for loans, which affected the bank throughout the quarter.
Copyright (c) 2021 CercleFinance.com. All rights reserved.