Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance through almost 6,400 stores, the internet and other distribution channels across North America and internationally. Wells Fargo is the 4th largest bank in the US by assets and the 2nd largest bank by market capitalization. Total assets: US$ 1.251 trillion (as of June 30, 2011). Net profit: US$ 12.362 billion (2010).
The firm's primary U.S. operating subsidiary is national bank Wells Fargo Bank, N.A.. Wells Fargo operates stores and ATMs under the Wells Fargo and Wachovia names.
Wells Fargo is a result of an acquisition of Wells Fargo & Company by Norwest Corporation in 1998 and the subsequent 2008 acquisition of Wachovia Corporation.
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Wells Fargo :: Press Releases
20.07.2011 Wells Fargo reports second-quarter 2011 net income of US$ 3.95 billion, compared to US$ 3.06 billion in Q2 2010 (up 29%). Increased revenue and loans, lower expenses from first quarter 2011.
20.01.2011 Company reports full-year 2010 net income of $12.4 billion compared with net income of $12.3 billion in 2009. Fourth quarter 2010 net income was $3.4 billion. More
Financial News
Three Swiss bankers indicted by U.S. in tax crackdown - 09.01.2012 U.S. authorities are moving toward taking legal action against Wegelin & Co., which could lead to an indictment of one of Switzerland's last pure private banks, on charges that it enabled wealthy Americans to evade taxes, according to two persons with knowledge of the case. Source: Reuters
Islamic finance assets to hit US$ 1.1 trillion in 2012 - 22.11.2011 Islamic finance assets around the world are expected to climb 33% from their 2010 levels to $1.1 trillion by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis, consultants Ernst & Young said in a report on Tuesday. Source: Reuters
Spanish bank ratings downgraded by Fitch and S&P - 12.10.2011 Two leading credit rating agencies have downgraded some of Spain's largest banks, citing a deteriorating outlook for the Spanish economy. Source: BBC News
Spotlight on Islamic Retail Banking – strategies for fast growing industry - 07.10.2011 Islamic Banking is young but fast growing industry what brings challenges as need for standardization, expanding at the market (now < 1% population is banking Islamic Banks), lack of public awareness about Islamic Banking (misinterpretation) and limited resources of qualified people in this particular industry. Source: Fleming Gulf
JBIC inks $43bn credit line pact with Japan banks - 05.10.2011 The Japan Bank for International Cooperation (JBIC) said Wednesday that it has signed separate pacts with three major Japanese banks to give them a combined $43 billion, or Y3.3 trillion, credit line, as part of the government's steps to encourage companies to go ahead with M&As overseas. Source: Nikkei
U.S. banks begin charging monthly debit-card fees - 01.10.2011 Get ready for a new wave of bank fees. Bank of America will begin charging a $5 monthly fee at the beginning of next year for customers who make debit card purchases. Source: CNNMoney
Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance through almost 6,400 stores, the internet and other distribution channels across North America and internationally. Wells Fargo is the 4th largest bank in the US by assets and the 2nd largest bank by market capitalization. Total assets: US$ 1.251 trillion (as of June 30, 2011). Net profit: US$ 12.362 billion (2010).
MEMBER FDIC (each depositor insured to at least $250,000).
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