Wells Fargo Investor Relations: Wells Fargo boosts profits by 47 percent

New York – The U.S. bank Wells Fargo has their profits in the second quarter by 47 percent to 2.58 billion U.S. dollars increased. The bank is ranked in order on Wednesday a series of other major U.S. institutions, some of which surprisingly good quarterly results presented. By contrast, Morgan Stanley does not come from the red numbers.

Wells Fargo reasonable profit jump even with the takeover of the ailing bank Wachovia in December. The result of 57 percent per share, surpassing analysts’ expectations of 34 cents per share slip significantly. The turnover stood at 22.5 billion U.S. dollars.

Wells Fargo was founded in October 2008 with 25 billion euros from the bank rescue program of the U.S. government supported. A stress test of the Ministry of Finance revealed in May, an additional capital requirement of 13.7 billion U.S. dollars. By the end of June, the Bank has 8.6 billion U.S. dollars by issuing new shares at the end. Analysts see problems as well as the competitors Bank of America and JPMorgan Chase in the growing number of space-loans.

State aid of 10 billion U.S. dollars repaid

Morgan Stanley on the other hand, reported a loss of 1.26 billion U.S. dollars, or $ 1.10 per share. The result of the in September 2008 from a pure investment bank into a commercial banking institution was transformed significantly below analysts’ expectations of a loss of 49 cents per share slip.

Already in the first quarter, Morgan Stanley had a loss of 578 million U.S. dollars recorded. In the second quarter impacted a fine of 850 million U.S. dollars the result, the Bank had, since they renewed the loan over 10 billion U.S. dollars from the bank rescue program of the U.S. government repaid.

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

Tags: , , , , , , , , , , , , , , , , , , ,

Ezine Article Board


This author has published 5774 articles so far.

Comments are closed