Wells Fargo: Q3 EPS down 4%

(CercleFinance.com) - Wells Fargo has reported net income of $5.
11bn for Q3 2024, representing EPS that is down 4% to $1.42, with the return on tangible equity (ROTCE) down two points to 13.9%.

The Californian bank's provisions for credit losses fell to just over $1.06bn, compared with nearly $1.2bn a year ago, while non-interest expenses remained fairly flat at $13.1bn.

At just under $20.4bn, revenues were down 2%, with an 11% contraction in net interest income largely offset by a 12% increase in other revenues.


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