Vladimír Urbánek (Kurzy.cz)
World markets  |  October 12, 2012 15:19:46

ZiskWells Fargo in Q3 grew by 22% and was again a record

Currently most valuable U.S. bank Wells Fargo 3Q of this year showed annual growth in net profit by 22% to 4.94 mld.USD = 88 cents per share, narrowly beating market expectations set at 87 cents per share. The amount of gain re-inches historic high banks. For further improvement is mainly due to growth in demand for refinancing old mortgages. The bank currently manages every third mortgage market.
Total revenues of the bank grew by 8.1% yoy to 21.2 mld.USD.
Revenue Division mortgages went up by 53% to 2.81 mld.USD. 2Q compared to the volume of mortgages by 86 mill.USD.

Improved results were observed also in the division of asset management, credit cards, and brokerage.

The bank's management announced that the net interest margin decreased slightly in Q3.

Shares of banks responding to the report in premarket cc drop of 2.7%. At the conclusion of yesterday the title this year, attributed the appreciation of 28%. The market capitalization of the bank reached level 186 mld.USD.

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ZiskWells Fargo ve 3Q rostl o 22% a byl znovu rekordní

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