Yizhu Wang, Bloomberg News Journalist Profile

Articles

U.S. Bancorp Beats Analysts’ Estimates on Fee Income, Expenses

1 week ago | bloomberg.com | Yizhu Wang

U.S. Bancorp is striving to maintain diversified revenue streams. (Bloomberg) -- U.S. Bancorp, the fifth-largest US bank, beat analysts’ estimates on one of the revenue metrics key to Chief Executive Officer Gunjan Kedia’s plan to boost profitability. Non-interest income for the first quarter rose 5% to $2.84 billion, topping the $2.79 billion predicted by analysts. Kedia has identified payments services as a growth priority to drive fee income.
PNC Tops Estimates for Net Interest Income, Loan-Loss Provisions

1 week ago | news.bloombergtax.com | Yizhu Wang

PNC Financial Services Group Inc. beat expectations for first-quarter net interest income, its largest revenue stream, as expenses and the provision for credit losses came in better than analysts expected. NII rose 6.5% to $3.48 billion, according to a statement Tuesday. The figure, which represents what the bank earns from making loans after subtracting funding costs, was higher than analysts’ projection of $3.44 billion.
PNC Tops Estimates for Net Interest Income, Loan-Loss Provisions

1 week ago | bloomberg.com | Yizhu Wang

PNC Financial Services Group Inc. beat expectations for first-quarter net interest income, its largest revenue stream, as expenses and the provision for credit losses came in better than analysts expected. NII rose 6.5% to $3.48 billion, according to a statementBloomberg Terminal Tuesday. The figure, which represents what the bank earns from making loans after subtracting funding costs, was higher than analysts’ projection of $3.44 billion.
Wells Fargo to Expand Newly Restructured Tech Commercial Banking

1 week ago | bloomberg.com | Yizhu Wang

A Wells Fargo bank branch in New York. Photographer: Bing Guan/Bloomberg(Bloomberg) -- Wells Fargo & Co. is pushing deeper into technology banking for small to midsize firms through staffing additions, as it seeks to capture a larger slice of the industry’s deals and financings. The San Francisco-based bank plans to hire about 10 more bankers for its tech team within its commercial-banking business this year, after adding about 20 in 2024, according to Tom Harper, who oversees the team.
Wells Fargo’s NII Falls Short as Expenses Cut More Than Forecast

1 week ago | news.bloombergtax.com | Yizhu Wang

Wells Fargo & Co.missed analysts’ estimates for net interest income in the first quarter with soft loan demand hurting the bank’s largest revenue stream as tariff uncertainty clouds the US economic outlook. The San Francisco-based firm generated $11.5 billion in net interest income, the difference between what it makes from lending and pays for deposits, falling short of expectations of $11.8 billion.
Wells Fargo supera las expectativas con un descenso de 3,1% en sus gastos

1 week ago | bloomberglinea.com | Yizhu Wang

Bloomberg — Wells Fargo & Co. (WFC) mantuvo los gastos bajo control y superó las expectativas de los analistas en cuanto a provisiones para insolvencias en el primer trimestre, mientras la incertidumbre arancelaria enturbia las perspectivas económicas de EE.UU., lo que suaviza la demanda de préstamos. Los gastos no financieros superaron las previsiones con un descenso del 3,1%, hasta US$13.900 millones, mientras el CEO, Charlie Scharf, trabaja para recortar costes.
Wells Fargo’s NII Falls Short as Expenses Cut More Than Forecast

1 week ago | bloomberg.com | Yizhu Wang

A Wells Fargo bank branch in New York. Photographer: Michael Nagle/Bloomberg(Bloomberg) -- Wells Fargo & Co. missed analysts’ estimates for net interest income in the first quarter with soft loan demand hurting the bank’s largest revenue stream as tariff uncertainty clouds the US economic outlook. The San Francisco-based firm generated $11.5 billion in net interest income, the difference between what it makes from lending and pays for deposits, falling short of expectations of $11.8 billion.
Wells Fargo Falls Short of NII Estimates Amid Tepid Loan Demand

1 week ago | news.bloomberglaw.com | Yizhu Wang

Wells Fargo & Co. missed analysts’ estimates for net interest income in the first quarter with soft loan demand hurting the bank’s largest revenue stream as tariff uncertainty clouds the US economic outlook. The San Francisco-based firm generated $11.5 billion in NII, the difference between what it makes from lending and pays for deposits, falling short of analysts’ forecasts of $11.8 billion.
Big banks' record trading streak overshadowed by tariffs

2 weeks ago | americanbanker.com | Yizhu Wang

Tariff upheaval and recession fears are taking the shine off what's expected to be another quarter of near-record trading revenue for the biggest U.S. banks. JPMorgan Chase , Bank of America , Citigroup , Goldman Sachs Group and Morgan Stanley are projected to post a combined $34.8 billion haul from their trading businesses when the industry's top lenders begin releasing first-quarter results on Friday, the most for that period in at least seven years, according to data compiled by Bloomberg.
Big Banks’ Record Trading Streak Overshadowed by Tariff Upheaval

2 weeks ago | bloomberg.com | Yizhu Wang

Analysts estimate that JPMorgan will post the biggest gains in investment-banking fees in the group. (Bloomberg) -- Tariff upheaval and recession fears are taking the shine off what’s expected to be another quarter of near-record trading revenue for the biggest US banks. JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc.