Wells Fargo Q4 net income $5.1B, EPS $1.43; FY repurchases $20B; OCC consent order terminated

WELLS FARGO & COMPANY/MN

2024-FY EPS reported $5.37

Q4 2024 net income $5,079M ($1.43 EPS) vs $3,446M ($0.86 EPS) a year ago; revenue $20,378M.
Net interest income $11,836M (-7% YoY); noninterest income $8,542M (+11% YoY) on venture gains and asset-based fees.
Noninterest expense $13,900M (-12% YoY) including lower FDIC assessment and severance; $863M discrete tax benefit recognized.
CET1 ratio 11.1%; repurchased 57.8M shares ($4.0B) in Q4; full-year $20B repurchases and 15% dividend increase.
OCC terminated 2016 sales-practices consent order; credit card loan growth and checking account expansion cited as bright spots.

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