Wells Fargo's quarterly profit fell more than it was expected

Wells Fargo, the leader of the US mortgage market, following the results of the second quarter, reported on the reduction of net profit to 5 billion 190 million dollars from 5 billion 810 million dollars a year earlier. Earnings per share were 98 cents, while analysts had expected the figure at 1 dollar 12 cents per share. Quarterly revenue fell to 21 billion 550 million dollars from 22 billion 200 million dollars for the same period last year. Economists had predicted a decline in revenue to 21 billion 680 million dollars. Net interest income increased by 1% in annual terms to $12.5 billion, non-interest income decreased by 8% to $9 billion. The volume of deposits on the bank's accounts fell by 2%, the volume of loans granted - by 1%.

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