Wells Fargo increased annual profit by 0.9% in 2018

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One of the largest US banking groups, Wells Fargo & Co, in the financial statements, indicated the increase in profit to $22.39 billion. Compared with last year, an increase of 0.9%. The report for the fourth quarter showed a decline in profits by 1%, and revenue - by 4%. Diluted net income per share rose to $4.28, compared with $4.1 last year. The results of the year showed a decrease in revenue by 2.26% to $86.4 billion. Diluted earnings per share rose to $1.21 per share from $1.16 over last year. In the fourth quarter, the bank increased its profits due to the opening of deposits and growth in lending, and in the current 2019, Wells Fargo promises to reduce costs.

 

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