SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC - News):Full Year 2008:
Record revenue of $42.23 billion, up 7 percent from prior year Positive operating leverage (revenue growth of 7 percent; expense decline of 1 percent), best among large bank peers Net income of $2.84 billion, including $8.14 billion (pre tax) credit reserve build, $1.68 billion (pre tax) other-than-temporary impairment and $124 million (pre tax) of merger-related expenses Diluted earnings per share of $0.75, including credit reserve build ($1.51 per share) and other-than-temporary impairment ($0.31 per share) Industry-leading annual results – highest growth in pre-tax pre-provision earnings (up 18 percent), highest net interest margin (4.83 percent), return on equity, return on assets and highest total shareholder return among large bank peers (up 2 percent)
Fourth Quarter 2008:
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