WRAPUP 1-U.S. bank executives offer cautious optimism heading into 2020 [Reuters (UK)]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Reuters
U.S. bank executives offer cautious optimism heading into 2020 - Reuters 4 Min Read (Reuters) - Despite trade wars, low interest rates and new geopolitical tensions, big U.S. banks have not experienced major disruption to their core businesses and top executives are hopeful they can generate growth this year. On Tuesday, three of the largest U.S. lenders reported results, with JPMorgan Chase & Co ( JPM.N ) hitting new profit records, Citigroup Inc ( C.N ) noting 16 consecutive quarters of loan and deposit growth, and Wells Fargo & Co ( WFC.N ) adding new checking-account customers despite fallout from an embarrassing sales scandal. JPMorgan and Citi beat Wall Street expectations, thanks partly to big gains in bond-trading revenue. Wells Fargo missed due to bloated expenses, though analysts said its underlying businesses were performing relatively well. “Heading into this year, looks like corporate, investment banking and consumer are the strengths,” said RBC Capital Markets anal
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