Wells Fargo & Co

Latest Results (24.08.2026):

Wells Fargo & Co — Second Quarter 2026: The company reported net income of $6.407 billion, or $2.00 per diluted share, on total revenue of $22.622 billion (up 9% year‑over‑year). Loan and deposit growth was strong (average loans $1,026.5 billion, +12% y/y; average deposits $1,465.6 billion, +10% y/y), ROTCE rose to 17.7%, and the bank returned capital through $3.0 billion of share repurchases in the quarter and an announced planned dividend increase for Q3 (to $0.50 subject to board approval). A $132 million discrete tax benefit ($0.04 per share) was a notable item in the quarter.

Earnings

Net income $6.407B; diluted EPS $2.00, up 25% y/y; quarterly revenue $22.622B (NII $12.317B, noninterest income $10.305B).

Revenue Mix & Trends

Net interest income rose 5% y/y (benefiting from lower deposit costs, higher loan and securities balances), while noninterest income increased 13% y/y driven by venture capital gains, investment advisory and investment banking fees; Markets revenue was up sharply (24% y/y).

Expenses & Efficiency

Noninterest expense was $13.661B (up 2% y/y) and the efficiency ratio improved to 60% (from 64% a year ago), with continued expense discipline and a 7% headcount reduction noted.

Credit Quality

Provision for credit losses $914M (down 9% y/y); net loan charge‑offs were modest (about $876M and 0.34% annualized); nonperforming assets fell to $7.944B (0.77% of loans).

Balance Sheet Growth

Average loans $1,026.5B (+12% y/y) and average deposits $1,465.6B (+10% y/y), with growth across consumer and commercial portfolios.

Capital & Liquidity

Common Equity Tier 1 (CET1) ratio ~10.3% (preliminary), TLAC 22.8%, SLR 5.8%, and LCR 119%; ROTCE 17.7% and ROE 15.0%.

Shareholder Returns

Repurchased 37.4 million shares for ~$3.0B in Q2 (≈$7B repurchased in H1); company expects to raise the Q3 common dividend to $0.50 per share (subject to board approval).

Operating Segment Highlights

All segments reported revenue growth y/y: Consumer Banking & Lending +6%, Wealth & Investment Management +13%, Commercial Banking +6%, Corporate & Investment Banking +16% (Markets +24%, Equities +64% y/y in the segment).

Notable Items

Discrete tax benefit of $132M (≈$0.04 per share) related to prior period matters; financial results are preliminary and subject to final 10‑Q disclosures.

Regulatory / Stress Test Context

Completed the 2026 CCAR process; Fed stress results do not change capital requirements this year, and Wells Fargo’s stress test outcome remains below the SCB floor (SCB maintained at 2.5%).