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Wells Fargo CEO Says "Not Even Thinking About What Life Is Like Without Asset Cap"

Reuters2021-07-15

Wells Fargo & Co :Ceo Charles Scharf Says "Regarding Our Work On Consent Orders And Other Regulatory Requirements, The Work Remaining Is Significant"- Conf Call.Ceo Charles Scharf Says Bank Expects To Achieve 10% Rotce During 2022- Conf Call.Ceo Charles Scharf Says Bank Continues To Target 15% Rotce "Over Time"- Conf Call.Cfo Says Bank May Be Able To Repurchase More Than The $18 Billion Included In Its Capital Plan Over The 4-Quarter Period.Cfo Says Would Expect To Have Additional Reserve Releases If Current Economic Trends Continue- Conf Call.Cfo Says Bank Expects Fy Net Interest Income To Be In Range Of Flat To -4%- Conf Call.Cfo Says Bank Seeing Signs Of Green Shoots With Modest Growth In Period-End Balances Versus Q1 In Auto, Other Consumer Credit Card, Commercial Real Estate Loans.Cfo Says Bank Continues To Evaluate Own Locations And Locations With Upcoming Lease Expirations For Closure And Consolidation Opportunities.Cfo Says Bank Expects Q3 Mortgage Originations To Decline Modestly, Although Refinancing Volumes Can Be Stronger Than Currently Forecasted.Ceo Says Bank Has Opportunities For Growth In "Every One Of Its Core Businesses" - Conf Call.Ceo Says "We'Re Not Even Thinking About What Life Is Like Without The Asset Cap" - Conf Call.Further Company Coverage: Wfc.N. ((Reuters.Briefs@Thomsonreuters.Com;)).

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Attitudenick
·2021-07-15
Great show of confidence! Cant imagine the upside when asset cap is lifted
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DavidSG
·2021-07-15
Great
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