"Revenue increased 5% from a year ago with growth in both net interest income and strong fee-based revenue, CEO Charlie Scharf told investors during Tuesday's earnings call. Wells Fargo's earnings release also noted that, effective Tuesday, Scharf was appointed as the company's chairman of the board. Wells Fargo reported $7 billion in mortgage originations from July through September, down from $7.4 billion in the second quarter, but up 27% from the third quarter of 2024."
"Similarly, JPMorgan Chase also surpassed expectations as profits climbed 12% annually to $14.4 billion and revenue rose 9% to $47.1 billion. The company originated $13.9 billion in mortgages across its retail and correspondent channels. Citi reported Q3 2025 net income of $3.8 billion on $22.1 billion in revenue, up from the figures of $3.2 billion and $20.2 billion in the same period last year."
Revenue increased 5% year over year with growth in net interest income and strong fee-based revenue. Wells Fargo appointed Charlie Scharf as chairman and reported $7 billion in mortgage originations from July through September, down from $7.4 billion in the second quarter but up 27% year over year; total mortgage revenue rose 45% year over year. JPMorgan Chase reported profits of $14.4 billion, up 12% annually, and revenue of $47.1 billion, originating $13.9 billion in mortgages. Citi reported Q3 2025 net income of $3.8 billion on $22.1 billion in revenue, with revenues up 9% and record third-quarter results across businesses. Loan volumes rose 3% at JPMorgan, fell 5% at Wells Fargo, and fell 2% at Citigroup.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]