For the fourth quarter of 2010, Wells Fargo posted a total revenue of $21.49bn, compared to $22.7bn for the corresponding quarter of 2009.
The bank reported a net income of $12.4bn, or $2.21 per diluted common share for the year 2010, compared to $12.3bn, or $1.75 per share, for 2009.
Net revenue for the year 2010 was $85.21bn, compared to $88.69bn for the year 2009.
Wells Fargo chief financial officer Howard Atkins said that the Wells Fargo has earned strong and consistent profits in each of the eight quarters since the 2008 merger with Wachovia – $24.6bn in profit in two years, including a record $3.4bn in profit in the fourth quarter.
"Our results in the fourth quarter were driven by broad-based revenue growth – up 12 % (annualized) from the prior quarter in total, including revenue growth in roughly two-thirds of our businesses," Atkins said.
