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A Look at Wells Fargo & Co (NYSE:WFC) Wholesale Banking Segment


Wells Fargo & Co (NYSE:WFC) wholesale banking segment provides financial solutions to businesses across the United States and globally with annual sales generally in excess of $5 million. WFC businesses include Business Banking, Commercial Real Estate, Corporate Banking, Financial Institutions Group, Government and Institutional Banking, Insurance, Middle Market Banking, Principal Investments, Treasury Management, Wells Fargo Commercial Capital, and Wells Fargo Securities. 

Wholesale Banking reported net income of $2.0 billion in third quarter 2017, down $1 million from third quarter 2016. Revenue decreased $62 million, or 1%, from third quarter 2016 and $315 million, or 1%. Noninterest income decreased $353 million, or 11%, from third quarter 2016 due predominantly to lower customer accommodation trading, mortgage banking fees, and insurance income. 


Wholesale Banking reported average loans of $463.8 billion in third quarter 2017, an increase of $9.5 billion, or 2%, from third quarter 2016. Average loan growth was driven by an increase in asset backed finance, capital finance, government and institutional banking, middle market banking, structured real estate, as well as the GE Capital business acquisitions in 2016. 



Average deposits of $463.4 billion increased $22.2 billion, or 5%, from third quarter 2016 and $32.4 billion, or 8%. 


About Wells Fargo & Company (NYSE:WFC)

Wells Fargo & Company is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,400 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking. Wells Fargo has offices in 42 countries to support customers who conduct business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States.