Wells Fargo(US:WFC)2025-04-11 16:38Financial Performance - Net income was $4.9 billion, or $1.39 per diluted common share, including $313 million of discrete tax benefits and a $263 million gain on the sale of the non-agency third party servicing segment [3] - Revenue totaled $20.1 billion, a decrease of 3% compared to 1Q24 [3] - Net interest income decreased by $732 million, or 6%, from 1Q24, reaching $11.5 billion [3, 7] - Noninterest expense decreased by $447 million, or 3%, from 1Q24, totaling $13.9 billion [3, 19] Credit Quality - Total net loan charge-offs amounted to $1.0 billion, a decrease of $140 million from 1Q24, with net loan charge-offs at 0.45% of average loans (annualized) [3] - Allowance for credit losses for loans decreased by 2% to $14.6 billion [3] Capital and Liquidity - Common Equity Tier 1 (CET1) capital was $135.6 billion, resulting in a CET1 ratio of 11.1% [3] - The Liquidity Coverage Ratio (LCR) was 125% [3] - Total Loss Absorbing Capacity (TLAC) ratio was 25.1% [3] Business Segments - Consumer Banking and Lending (CBL) total revenue decreased by 2% YoY [31] - Commercial Banking (CB) total revenue decreased by 7% YoY [33] - Corporate and Investment Banking (CIB) total revenue increased by 2% YoY [35]