More on Wells Fargo (WFC): Weak revenue is likely the result of sliding net interest margin -...


More on Wells Fargo (WFC): Weak revenue is likely the result of sliding net interest margin - down 25 basis points to 3.66%. Total loans grew just under 1% sequentially. Noninterest expense off $285M to $12.1B. Net loan charge-offs rise to 1.21% of loans from 1.15% in Q2. Nonperforming assets rise to 3.23% of loans from 3.21% in Q2. $800M gain (16% of net income) booked from reserve release. Shares -2.8% premarket. (PR)

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  • june1234
    , contributor
    Comments (4353) | Send Message
     
    I prefer the Marketwatch/Wall Street Journal headline myself on JPM earnings release this morning. PROFITS UP 34%.JPM believes housing market has tuned the corner . That is great.

     

    If you read on JPM provides lukewarm guidance going forward, Chief Executive Jamie Dimon said he believes "the charge-offs remains elevated and that the bank expects to see high default-related expense for a while longer. Come on Jamie you were doing so well, why ruin it. it's Friday.
    12 Oct 2012, 08:30 AM Reply Like
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