On Jan. 23, Wachovia Corporation (NYSE:WB) released fourth-quarter earnings for the period ended Dec. 31.

  • The company's revenues were up by around 30%, despite the challenging interest rate environment. Q4 2006 results include the impact of the Golden West Financial acquisition.
  • Net interest margin dropped year over year, but improved sequentially from Q3.
  • Efficiency ratio fell to an all-time low.
  • Wachovia carries a four-star rating in Motley Fool CAPS.

(Figures in millions, except per-share data)

Income Statement Highlights

Q4 2006

Q4 2005

Change

Total Revenue

$8,351.0

$6,431.0

29.9%

Net Interest Income

$4,577.0

$3,523.0

29.9%

Net Profit*

$2,255.0

$1,493.0

53.7%

EPS

$1.18

$0.97

24.2%

* From continuing operations.

Get back to basics with a look at the income statement.

Ratio Checkup

Q4 2006

Q4 2005

Change*

Net Interest Margin

3.09%

3.25%

(0.16%)

Efficiency Ratio

57.38%

63.72%

(6.34%)

Nonperforming Assets / Assets

0.19%

0.14%

0.05%

Return on Average Assets

1.31%

1.30%

0.01%

Return on Average Equity

13.09%

14.60%

(1.51%)

*Expressed in percentage points.

Find out more about bank performance ratios.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Investments

$154,148

$156,402

(1.4%)

Loans

$432,726

$265,420

63.0%



Liabilities

Q4 2006

Q4 2005

Change

Deposits

$407,458

$324,894

25.4%

Total Liabilities

$634,304

$470,294

34.9%



Learn about bank assets and bank liabilities.

Related Companies:

  • JPMorgan Chase (NYSE:JPM)
  • Citigroup (NYSE:C)
  • Wells Fargo (NYSE:WFC)
  • Goldman Sachs (NYSE:GS)
  • Bank of America (NYSE:BAC)

Related Foolishness:

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