Wells Fargo reports 5.25 billion dollar first quarter profit
The bank reported a net profit of 5.25 billion dollars for the first quarter. Higher interest income and the removal of an asset cap helped drive growth.
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WELLS FARGO & CO reported a rise in first-quarter profits, aided by higher income from interest payments. The fourth-largest lender in the United States saw net profit reach $5.25 billion, or $1.60 per share, for the three months ended March 31. This compares favorably to the $4.89 billion, or $1.39 per share, reported by the company during the same period a year earlier.
