In its first quarter report, Wells Fargo reported net income of $5.9 billion compared with $5.1 billion in the first quarter of 2018. Revenue was $21.6 billion, down from $21.9 billion a year ago. The bank holding company had a return on assets (ROA) of 1.26 percent and return on equity of 12.71 percent.
Interim Chief Executive Officer Allen Parker said, “Since assuming this role, I have been focused on leading our company forward by emphasizing my top priorities: serving our customers and supporting our Wells Fargo team members; meeting and exceeding the expectations of our regulators; and continuing the important transformation of the Company. We have more work ahead of us, and our strong leadership team is dedicated to making our Company the most customer-focused, efficient, and innovative Wells Fargo ever.”