Wells Fargo CFO Forecasts Rise in Net Interest Income
Chief Financial Officer Mike Santomassimo confirmed the bank remains confident in achieving its full-year net interest income forecast of $50 billion. The lender is also seeing growth opportunities in investment banking and equity capital markets as consumer resilience supports loan performance.
WELLS FARGO & CO expects a rise in net interest income during the second quarter as loan performance exceeds internal models. The bank reaffirmed its full-year guidance of approximately $50 billion in net interest income. Stronger interest revenue helps offset investor concerns regarding the impact of sustained high interest rates in the United States.
### Interest Income Gains Momentum Chief Financial Officer Mike Santomassimo told investors at a conference on Tuesday morning that the bank anticipates a step up in net interest income (NII) this quarter. Analysts surveyed by LSEG expect NII to rise 5.6% to $12.36 billion for the period. This follows a 5% increase to $12.1 billion during the first quarter.
