Wells Fargo reported mixed financial results for Q2 2024, with revenue increasing 1% YoY to $20.69 billion while net income declined 1% YoY to $4.91 billion. The company's diluted EPS rose 6% YoY to $1.33, driven by strong noninterest income growth of 19% YoY to $8.77 billion, though net interest income decreased 9% YoY to $11.92 billion.The bank's balance sheet showed resilience with total deposits growing 2% YoY to $1.37 trillion, despite a 3% YoY decline in total loans to $917.9 billion. Capital positions remained robust with a CET1 ratio of 11.01% and a supplementary leverage ratio of 6.67%, maintaining the bank's "well-capitalized" status under FDIC requirements.During Q2, Wells Fargo demonstrated strong capital management through active share repurchases, buying back 100.6 million shares across April, May, and June at varying price points, with $14.71 billion remaining in repurchase authorization. The bank continues to operate under regulatory oversight with specific capital planning requirements and maintains G-SIB surcharge compliance.

Wells Fargo reported mixed financial results for Q2 2024, with revenue increasing 1% YoY to $20.69 billion while net income declined 1% YoY to $4.91 billion. The company's diluted EPS rose 6% YoY to $1.33, driven by strong noninterest income growth of 19% YoY to $8.77 billion, though net interest income decreased 9% YoY to $11.92 billion.The bank's balance sheet showed resilience with total deposits growing 2% YoY to $1.37 trillion, despite a 3% YoY decline in total loans to $917.9 billion. Capital positions remained robust with a CET1 ratio of 11.01% and a supplementary leverage ratio of 6.67%, maintaining the bank's "well-capitalized" status under FDIC requirements.During Q2, Wells Fargo demonstrated strong capital management through active share repurchases, buying back 100.6 million shares across April, May, and June at varying price points, with $14.71 billion remaining in repurchase authorization. The bank continues to operate under regulatory oversight with specific capital planning requirements and maintains G-SIB surcharge compliance.