Wells Fargo proud of cross-selling – getting customers to open more accounts. See the earnings calls:

From 2012

p.7.

We increased our dividend rate to $0.22 per share, which we paid to our shareholders in the first quarter. We are well positioned to continue to grow, ending the quarter with a strong mortgage pipeline, and we are focused on capitalizing on acquisition opportunities, increasing our cross-sell, growing our loans and deposits, and reducing our expenses. —John Stumpf – Wells Fargo & Company – Chairman, President, CEO

p 6.

Let me now briefly highlight on our segment results starting on page 13. Community banking earned $2.5 billion in the second quarter, up 8% from the first quarter. Retail banking reached a record cross-sell of 6 products per household, up from 5.82 a year ago. Cross-sell growth occurred throughout our franchise, with the West increasing to 6.37 and the East increasing to 5.52, up 27 basis points from a year ago. The momentum in the East is also demonstrated by core product sales growing by 5% from a year ago. Credit card penetration in our retail banking households continued to increase to 31%, up from 27% a year ago. We generated record consumer auto originations in the second quarter of $6.6 billion, up 6% from the first quarter and up 18% from a year ago.–John Stumpf – Wells Fargo & Company – Chairman, President, CEO

p.3

This strong performance during a period of slow and uneven economic growth was driven by momentum across Wells Fargo’s diversified businesses. We have a broad set of products that enables us to meet all of our customers’ financial needs, which is reflected by our record retail banking cross-sell this quarter of 6.04 products per household. In the current low rate environment, our mortgage business continued to benefit from strong refi and purchase volume, and credit quality reached and reflected an improving housing market. Our credit card business is successfully generating new account growth, up 46% from a year ago and we are focused on increasing customer card usage, which is generating strong balance and fee growth. We have grown managed accounts assets in our retail brokerage business over 25% in the past 12 months, driven by strong net flows and market performance.—John Stumpf – Wells Fargo & Company – Chairman, President, CEO

p.7

Turning to our segment results starting on page 15, Community Banking earned $2.9 billion in the fourth quarter, up 14% from a year ago and up 5% from the third quarter. Retail Banking achieved a record cross-sell of 6.05 products per household, up from 5.93 a year ago. Our credit card business continues to grow with credit card balances up 4% linked quarter to a record $24.6 billion, with a record $12.6 billion of purchased dollar volume in the fourth quarter. This growth reflects seasonal holiday spending and strong account growth. New consumer credit card accounts grew 11% from the fourth quarter of 2011 with household penetration increasing to 33%, up from 29% a year ago—John Stumpf – Wells Fargo & Company – Chairman, President, CEO

Sen.Warren website:

2012

2013

2014

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