Wells Fargo & Co. (WFC) is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through almost 9,000 stores, 12,000 ATMs, the internet and other distribution channels across North America and internationally. Total assets: US$ 1,509 billion (as of December 31, 2013). Net income: US$ 12.4 billion (2010), US$ 15.9 billion (2011), US$ 18.9 billion (2012), US$ 21.9 (2013).
Wells Fargo is the 4th largest bank in the US by assets and the 1st largest bank by market capitalization. Wells Fargo operates stores and ATMs under the Wells Fargo and Wachovia names. The firm's primary U.S. operating subsidiary is national bank Wells Fargo Bank.
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.
Member FDIC (each depositor insured to at least $250,000).
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14.01.2014 Wells Fargo reports fourth quarter 2013 net income of US$ 5.6 billion, compared to US$ 5.1 billion in fourth quarter 2012. Full-year 2013 net income was US$ 21.9 billion (up 16%).
16.10.2013 Wells Fargo reports third quarter 2013 net income of $5.6 billion, compared to $4.9 billion in third quarter 2012 (up 13%). As at 30 September 2013, the company's total assets reached $1.450 trillion.
12.07.2013 Wells Fargo today reported record net income of $5.5 billion for the second quarter of 2013, compared with net income of $4.6 billion in the second quarter of 2012 (up 19%). First half 2013 net income totaled $10.7 billion.
12.04.2013 Wells Fargo reports first-quarter 2013 net income of US$ 5.17 billion, compared to US$ 4.25 billion in Q1 2012 (up 22%). As at 31 March 2013, the company's total assets reached $1.404 trillion.
14.01.2013 Wells Fargo reported record net income of $18.9 billion in 2012, compared with net income of $15.9 billion in 2011. For fourth quarter 2012, net income was $5.1 billion, compared with $4.1 billion for fourth quarter 2011. More
No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters