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This statistic highlights Wells Fargo’s Revenue Breakdown, split between Interest Income to Total Revenue, Non-Interest to Total Revenue.
Wells Fargo & Company is a major financial services company with about $1.9 trillion of assets and proudly serves one household out of three in the U.S. and over 10% of all middle market and small businesses in the United States. It offers a diverse range of banking, investment, mortgage, and commercial financing products and services via 4 reporting segments: Consumer Banking and Lending, Commercial Banking, Corporation and Investment Banking, and Wealth and Investment Management.
Wells Fargo’s Revenue Breakdown in the following two segments:
The following table sheds more light on each of the segments and their contribution to the company’s overall top line.
|Segment||Q1 2020||Q1 2021||Revenue Share in Q1 2021||YOY Growth|
|Interest Income to Total Revenue||$14.73||$10.04||66.98%||-31.84%|
|Non Interest to Total Revenue||$6.41||$4.95||33.02%||-22.78%|
(All figures in billions, except percentages)
Wells Fargo’s total revenue has decreased by 29.09% year-over-year from $21.14 billion in Q1 2020 to $14.99 billion in Q1 2021. The total revenue declined in Q3 2019, then there was a slight increase in Q4 2020 but again collapsed in Q1 2021.
Interest Income to Total Revenue
Debt securities, equity securities, investment securities (deprecated), loans, loans held for sale, mortgage loans held for sale, other interest income, trading assets (deprecated), and other assets that pay interest are sources of interest income. Net interest income (NII) is a common metric used by financial institutions, particularly banks, to assess their profitability.
The Interest Income of Wells Fargo has been decreased 31.84% from $14.73 billion in Q1 2020 to $10.04 billion in Q1 2021. It contributed 66.98% of total revenue in Q1 2021.
Non Interest to Total Revenue
Non-interest income is earned by banks and creditors largely through fees such as card fees, insurance, lease income, mortgage banking, net gains from equity securities, net gains from trading activities, net gain on debt securities, other fees, service charges on deposit accounts, trust and investment fees.
The non-Interest Income of Wells Fargo was declined 22.78% from $6.41 billion in Q1 2020 to $4.95 billion in Q1 2021. It contributed 33.02% of total revenue in Q1 2021.
Wells Fargo & Company is a global financial services company based in San Francisco, California, with corporate headquarters in San Francisco and operating headquarter in Manhattan. It was established by Henry Wells and William G Fargo in 1852. The present Wells Fargo was formed by a merger between San Francisco-based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998, followed by the 2008 acquisition of Charlotte-based Wachovia. Wells Fargo and company rated 30th in Fortune 2020 rankings of the biggest American companies. Also, it is 4th in assets and 3rd place on the market value of common stock among all U.S. banks on March 31, 2021.
Wells Fargo is among the top 5 banks in the U.S. and faces tough competition with three other U.S. banks JPMorgan Chase, Bank of America, and Citigroup. It has 8,050 branches and 13,000 ATMs as of June 2018. In 2018, the firm operated in 35 countries and served more than 70 million consumers worldwide. Over the years, Wells Fargo has acquired companies like Placer Sierra Bank, Greater Bay Bancorp, CIT’s construction unit, United Bancorporation of Wyoming.
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