Bank Earnings:Historical Results/2023 Q2: Difference between revisions

Bank Earnings:Historical Results/2023 Q2 (view source)

Revision as of 11:56, 14 July 2023

1,624 bytes added , 14 July 2023

no edit summary

VisualWikitext

Aron

Administrators

6,294

edits

@@ Line 50: / Line 50: @@
 | +7% Y/Y
 |
+|-
+|Wells Fargo
+|Revenue<ref>https://www.cnbc.com/2023/07/14/wells-fargo-wfc-2q-2023-earnings.html
+https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/second-quarter-2023-earnings.pdf</ref>
+|$20.12 billion
+|$20.53 billion
+|“Our company remains strong and we have significant opportunities to continue to improve how we serve our customers. The U.S. economy continues to perform better than many had expected, and although there will likely be continued economic slowing and uncertainty remains, it is quite possible the range of scenarios will narrow over the next few quarters. We remain prepared for a variety of scenarios and our steadfast commitment to our risk and control buildout coupled with our continued focus on financial and credit risk management allows us to support our customers throughout economic cycles,” CEO Charlie Scharf concluded.
+|-
+|
+|Adjusted EPS
+|$1.16
+|$1.25
+|
+|-
+|
+|Provision for credit losses
+|
+|$1.71 billion(+195% Y/Y and +46% Q/Q).
+|
+|-
+|
+|Net interest income
+|
+|$13.2 billion(+29% Y/Y), but was down 1% Q/Q.
+|
+|-
+|
+|Average deposits
+|
+|$1,347.4 billion(-6.8% Y/Y)
+|
+|-
+|
+|Average Loans
+|
+|$ 945.9 billion (+2% Y/Y)
+|
+|-
+|
+|Net loan charge-offs
+|
+|$764(+122% Y/Y and 26% Q/Q).
+|"As expected, net loan charge-offs increased from the first quarter. Consumer charge-offs continued to deteriorate modestly. Commercial charge-offs increased driven by a small number of borrowers in Commercial Banking, with little signs of systemic weakness across the portfolio, and higher losses in commercial real estate, primarily in the office portfolio." CEO Charlie Scharf said.
 |}
 == References ==