(CercleFinance.com) – Wells Fargo publishes net profit for the first quarter of 2024 of $4.62 billion, or $1.20 per share, an EPS down more than 2% compared to that of the period last year’s correspondent.
The Californian bank saw its provisions for credit losses decline to $938 million, compared to $1.21 billion a year earlier, but its non-interest expenses increased by almost 5% to more than $14.3 billion.
At just under 20.9 billion, its revenues remained roughly stable (+1%), an expected 8% contraction in net interest income having been offset by a 17% increase in other types of income. .
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