Wells Fargo does well after lower overall costs
Interim CEO Allen Parker was thrust into the job in March when former CEO Tim Sloan quit abruptly, saying pressure from politicians was a distraction
16 July 2019 - 17:34
New York — Wells Fargo reported higher quarterly profit on Tuesday despite flat revenue, as the bank benefited from lower costs.
Revenue fell at Wells’s community bank and wholesale bank as net interest income was squeezed by lower interest rates and higher deposit costs. But profit in those segments jumped 26% and 6%, respectively, due to lower overall costs...
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