Wells Fargo’s net income jumped 52% in the first quarter due mainly to its acquisition last year of regional lender Wachovia and a rise in mortgage refinancings, reports the WSJ.  Wells’ latest results were slightly higher than preliminary results issued two weeks ago, which were well above Wall Street estimates. The San Francisco bank reported Q1 net income of $3.05bn, up from of $1.99bn a year earlier.

This entry was posted by Gwen Robinson on Thursday, April 23rd, 2009 at 4:54 and is filed under Capital markets. Tagged with wachovia, wells fargo. Edit this entry.