On July 15, 2022, Wells Fargo reported Q2 revenue of $17 billion (a decrease of 16% year-over-year) on diluted earnings per common share (Diluted EPS) of $0.74.
Summary: Wells Fargo’s Q2 2022 revenue declined by 16% compared to the same period in 2021. The bank’s average lending and average deposits were $926.6 billion and $1.4 trillion, respectively. The bank had a Common Equity Tier 1 (CET1) ratio of 10.3% remained above the regulatory minimum of 9.1% and a Liquidity Coverage Ratio (LCR) of 121% during Q2 2022. The bank had a $12.9 billion provision for credit losses in the quarter, down $3.5 billion from the previous year due to loan growth.
Wells Fargo had four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.
Guidance: No guidance is provided for Q3 2022 and full-year 2022.
United States of America
United States of America
United States of America
United States of America
China
United States of America
United States of America
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