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Wells Fargo

Wells Fargo profit beats estimates as credit costs stabilize
Business & Finance

Wells Fargo profit beats estimates as credit costs stabilize

  • The fourth-largest US lender said profit rose to $4.74 billion, or $1.05 per share, in the three months ended March, from $653 million, or 1 penny per share, a year earlier.
  • Since then, an ultra-loose monetary policy, trillions in stimulus support and an accelerated vaccination program have largely put the world's largest economy on a more solid footing.
Published 14 Apr, 2021 05:13pm
Wells Fargo expands in precious metals after Scotiabank exit
Business & Finance

Wells Fargo expands in precious metals after Scotiabank exit

  • Scotiabank was for years the biggest global lender to the physical precious metals industry. It decided in 2018 to downsize and last year to exit the sector.
  • Other banks to have taken on Scotia staff since it began to shrink include Canada's Bank of Montreal (BMO) and Royal Bank of Canada (RBC).
Published 01 Mar, 2021 08:15pm
High costs haunt Wells Fargo results years after scandal
Business & Finance

High costs haunt Wells Fargo results years after scandal

  • "Why is that the number?" asked UBS analyst Saul Martinez about Wells' core cost guidance. "Because you haven't been anywhere near that number for five years."
  • That is what I said and I was wrong when I said it," Shrewsberry told reporters on a call discussing results,
Published 14 Oct, 2020 11:49pm