UPDATE 1-Wells Fargo first-quarter profit decimated as coronavirus boosts provisions [Reuters]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Reuters
UPDATE 1-Wells Fargo first-quarter profit decimated as coronavirus boosts provisions (Adds CFO quote, details about credit losses) April 14 (Reuters) - Wells Fargo & Co on Tuesday reported a plunge in first-quarter profit as the U.S. bank set aside billions of dollars to cover potential loan-losses from the coronavirus pandemic. The U.S. government has poured trillions of dollars into financial markets and launched stimulus programs to support individuals and small businesses whose income has stalled due to the virus. But the money has not gotten into people’s hands immediately, leading Wells Fargo and other banks to offer forbearance for home, auto and credit-card borrowers who meet certain criteria. With or without those programs, the unpaid bills are stacking up. Under a new accounting rule, banks must predict losses over the life of a loan and reserve that cash now, which led Wells Fargo to set aside some $3.83 billion in credit loss provisions, up from $845 million a year earlier
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- 12/1/25 - Form 424B2
- 12/1/25 - Form 424B2
- WFC's page on the SEC website