Wells Fargo & Company

Industry: Money Center Banks

Fortune Rank: 19

For the nine months ended 30 September 2005, Wells Fargo & Company's interest income rose 22% to $18.71B. Net interest income after loan loss provision rose 5% to $11.99B. Interest income reflects a significant increase in home mortgage revenues. Net interest income was partially offset by a significant increase in short term borrowings, deposits, long-term debt, higher interest expense and decreased operating lease income.

Wells Fargo & Company is a financial services company, which is registered as a bank holding and financial holding company. It engages in banking and a variety of related financial services businesses. Retail, commercial and corporate banking services are provided through banking stores in the United States. Other financial services include wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, insurance agency and brokerage services, computer and data processing services, trust services, mortgage-backed securities servicing and venture capital investment. The Company has three operating segments: Community Banking, Wholesale Banking and Wells Fargo Financial. In February 2004, Wells Fargo & Company completed the consolidation of 19 of its national bank charters into Wells Fargo Bank National Association.

Wells Fargo & Company

Wells Fargo & Company is a Fortune 500 company. In 2010 Wells Fargo & Company was ranked number 19 on the Fortune 500 list, making it the 19th largest company in the United States when judged by revenue.

Wells Fargo & Company achieved revenue of $98,636.00 million in 2010 and earned a profit of $12,275.00 million.

Wells Fargo & Company' rank improves

The company ranking improved in 2010, moving up the Fortune 500 list to 19th compared to 41st in 2009. This was based on its 2009 revenue of $51,652 million (a change of 47 million compared to 2010) and profits of $2,655 million (a change of $10 million compared to 2009).

Another point of view

To many investors, profits are more important than the revenue a company earns. If the Fortune 500 was ranked by profits instead of revenue then Wells Fargo & Company would be ranked 9th rather than 19th due to its profits of $12,275 in 2010.

Wells Fargo & Company Revenue* Profit* Fortune Ranking

* US$ Million

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