Trading revenues top $1bn at Wells Fargo in Q3
Net gains on trading activities up 75% on Q3 2018
San Francisco-based Wells Fargo posted trading-related revenues of $1.1 billion for the third quarter, up 11% on Q2 and 21% on the year-ago quarter.
Net gains on trading activities, which exclude the interest generated by its trading portfolio, hit $276 million, up 20.5% on Q2 and 74.6% on Q3 2018. Including this net interest income, the total was $1.1 billion.
In addition, paper gains on its equity portfolio increased $334 million (53.7%) over the quarter to $956 million as the holdings of
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