US bank Wells Fargo disappointed by lower profits

Compared At the value of the previous year, profits fell by almost twelve percent to $ 5.2 billion (4.5 billion euros), as announced by the bank Friday. in San Francisco. Chief Financial Officer John Shrewsberry, in particular, was responsible for a special tax burden of $ 481 million on income taxes

However, the total income of the bank – income – decreased by 30%. about three percent to $ 21.6 billion. Significantly better numbers are expected, the stock first dropped by more than three percent in front of the stock market. After scandals about fake accounts and other dubious practices, the institute is struggling with image problems and has a lot of problems with the authorities. Bank Chief Tim Sloan emphasized that internal controls have been further improved.

Wells-Fargo Communication