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Bank Earnings:Historical Results/2023 Q2: Difference between revisions
Bank Earnings:Historical Results/2023 Q2 (view source)
Revision as of 14:22, 14 July 2023
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=== Big Banks === | |||
{| class="wikitable" | {| class="wikitable" | ||
|+ | |+ | ||
!Bank | !Bank | ||
!Key Items | !Key Items | ||
!Estimate | !Estimate | ||
!Actual | !Actual | ||
| Line 24: | Line 25: | ||
|Provision for credit losses | |Provision for credit losses | ||
|$2.72 billion | |$2.72 billion | ||
|$2.899 billion(+27.4% Q/Q and +163% Y/Y). | |$2.899 billion(+27.4% Q/Q and +163% Y/Y). | ||
| | | | ||
|- | |- | ||
| Line 36: | Line 37: | ||
|Average deposits | |Average deposits | ||
| | | | ||
| -6% Y/Y and +3% Q/Q | | -6% Y/Y and +3% Q/Q | ||
| | | | ||
|- | |- | ||
| Line 42: | Line 43: | ||
|Average Loans | |Average Loans | ||
| | | | ||
| +13% Y/Y and +10% Q/Q | | +13% Y/Y and +10% Q/Q | ||
| | | | ||
|- | |- | ||
| Line 48: | Line 49: | ||
|Debit and credit card sales volume | |Debit and credit card sales volume | ||
| | | | ||
| +7% Y/Y | | +7% Y/Y | ||
| | | | ||
|- | |- | ||
| Line 55: | Line 56: | ||
https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/second-quarter-2023-earnings.pdf</ref> | https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/second-quarter-2023-earnings.pdf</ref> | ||
|$20.12 billion | |$20.12 billion | ||
|$20.53 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. | |“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. | ||
| Line 61: | Line 62: | ||
| | | | ||
|Adjusted EPS | |Adjusted EPS | ||
|$1.16 | |$1.16 | ||
|$1.25 | |$1.25 | ||
| | | | ||
| Line 118: | Line 119: | ||
|Provision for credit losses | |Provision for credit losses | ||
| | | | ||
|$161 | |$161 million( -57% Y/Y and -33% Q/Q) | ||
| | | | ||
|- | |- | ||
| Line 149: | Line 150: | ||
| | | | ||
|$1.5 billion(+77% Y/Y and 16% Q/Q). | |$1.5 billion(+77% Y/Y and 16% Q/Q). | ||
| | |||
|} | |||
=== Regional Banks === | |||
{| class="wikitable" | |||
|+ | |||
!Bank | |||
!Key Items | |||
!Estimate | |||
!Actual | |||
!Remarks from bank heads | |||
|- | |||
!State Street Bank | |||
|Revenue<ref>https://www.marketscreener.com/quote/stock/STATE-STREET-CORPORATION-14499/news/State-Street-s-Q2-Earnings-Revenue-Rise-44339219/ | |||
https://s201.q4cdn.com/681076340/files/doc_financials/2023/q2/STT-2Q23-Earnings-Presentation.pdf | |||
https://s201.q4cdn.com/681076340/files/doc_financials/2023/q2/STT-2Q23-Earnings-Press-Release.pdf</ref> | |||
|$3.13 billion | |||
|$3.11 billion | |||
|“Our second-quarter results reflect the strength of our business model year-over-year as strong net interest income growth, a significant expansion in front office solutions and higher securities finance revenue contributed to improved EPS and ROE. Quarter-over-quarter we saw good fee momentum across a number of our businesses, helped by accelerated onboarding of our tobe-installed AUC/A pipeline, while we continued to invest and serve our clients," CEO Ron O'Hanley said. | |||
“Our strong balance sheet and capital generation enabled us to return approximately $1.3 billion to shareholders through common share repurchases and dividends in the second quarter. We are also pleased by the results from this year's supervisory stress test, which once again confirm the resiliency and strength of our franchise. For the third consecutive year, we announced our plan to increase our per share common stock dividend by 10%, and we intend to continue to execute on our common share repurchase authorization of up to $4.5 billion during 2023, subject to market conditions and other factors.” he added. | |||
|- | |||
| | |||
|Adjusted EPS | |||
|$2.08 | |||
|$2.17 | |||
| | |||
|- | |||
| | |||
|Provision for credit losses | |||
| | |||
| -$18 million versus $44 million in Q1 2023 and $10 million in Q2 2022. | |||
| | |||
|- | |||
| | |||
|Net interest income | |||
| | |||
|Declined 10% QoQ to $691 million, but was up 18% YoY. | |||
| | |||
|- | |||
| | |||
|Net interest margin | |||
| | |||
|1.19% versus 1.31% in Q1 2023 and 0.94% in Q2 2022. | |||
| | |||
|- | |||
| | |||
|Average Deposits | |||
| | |||
|Declined 10% YoY and 2% QoQ to $206 billion. | |||
| | |||
|- | |||
| | |||
|Loans | |||
| | |||
|Declined 5% YoY to $34 billion, but was flat QoQ. | |||
| | |||
|- | |||
| | |||
|Credit Charge-offs | |||
| | |||
| -$8 million(+62% Y/Y) | |||
| | | | ||
|} | |} | ||
== References == | == References == | ||