Wells Fargo: two-thirds increase in quarterly EPS

(CercleFinance.com) - Wells Fargo reports net income of $5.
08 billion for the last three months of 2024, representing EPS up 66% to $1.43, and return on tangible equity (ROTCE) improved by 4.9 points to 13.9%.

Also on a year-on-year basis, the California-based bank saw credit loss provisions fall by 15% to just under $1.1 billion, while non-interest expenses were down 12% to $13.9 billion.

At just under $20.4 billion, revenues were stable compared with the fourth quarter of 2023, as a 7% contraction in net interest income was offset by an 11% increase in other types of income.

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