Reports Q4 noninterest income $8.54B, NIM 2.7%, net interest income $11.84B. Reports Q4 efficiency ratio 68%. “I’m proud of the clear progress we’ve made on our risk and control agenda. The OCC terminated a consent order it issued in 2016 regarding sales practices, an important milestone for Wells Fargo (WFC). Our operational risk and compliance infrastructure is greatly changed from when I arrived and while we are not done, I’m confident that we will successfully complete the work required in our consent orders and embed an operational risk and compliance mindset into our culture,” CEO Charlie Scharf added.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WFC:
- Wells Fargo (WFC) Pre-Earnings: Here’s What to Expect
- Here’s what Wall St. experts are saying about these banks ahead of earnings
- Notable companies reporting before tomorrow’s open
- OCC imposes civil money penalties against 3 former Wells Fargo executives
- Cleveland-Cliffs CEO has financing lined up for U.S. Steel bid, Semafor reports