Wells Fargo's Robust Fourth-Quarter Profit Surge

Wells Fargo reported a significant increase in profit for the fourth quarter, driven by strong performance in investment banking. The company's net income reached $5.08 billion, or $1.43 per share, compared to $3.45 billion, or 86 cents per share, in the previous year.

In a robust financial performance, Wells Fargo has reported a noticeable increase in its fourth-quarter profit, attributed to strong gains in investment banking.

The financial giant, ranked as the fourth-largest lender in the U.S., announced that its net income surged to $5.08 billion, translating to $1.43 per share.

This marks a substantial improvement from its net income of $3.45 billion, or 86 cents per share, recorded during the same period last year.

(With inputs from agencies.)