Wells Fargo reports fourth quarter profit growth as assets cross two trillion dollar mark

Wells Fargo WFCreported fourth-quarter 2024 net income of 5.36 billion dollars, representing a 5.5 percent increase from the 5.08 billion dollars recorded in the same period a year earlier. Earnings per share for the quarter reached 1.62 dollars, up from 1.43 dollars in the fourth quarter of 2023. The performance was bolstered by a 4 percent rise in net interest income, which climbed to 12.33 billion dollars, although this fell slightly short of the bank's own projections of between 12.4 billion and 12.5 billion dollars for the period.\n\nThe results mark a pivotal moment for the fourth-largest lender in the US USas it successfully grew its total assets beyond the 2 trillion dollar mark for the first time. This expansion follows the removal of a 1.95 trillion dollar asset cap by regulators in June 2024.