US EditionWells Fargo Profit Rises on Lower Bad Loan Provisions
SAN FRANCISCO, CALIFORNIA, UNITED STATES, JUL 15 – Wells Fargo cut its 2025 net interest income forecast due to weaker markets business but posted a second-quarter profit beat helped by lower credit loss provisions and regulatory progress.
- For the quarter ending June 30, 2025, Wells Fargo reported earnings of $5.49 billion, translating to $1.60 per share.
- Last month, Wells Fargo was allowed to remove its $1.95 trillion asset limit that had been in place for seven years, following the resolution of seven regulatory consent orders this year.
- The bank cut its 2025 net interest income forecast to remain roughly in line with 2024’s $47.7 billion, citing weaker markets business despite growth in fee income.
- CEO Charles Scharf noted that with the removal of the asset cap, the bank is now positioned to expand more freely than before, reflecting improved credit conditions and a measured approach to growth.
- Wells Fargo reduced its workforce to 212,804 at June 30 by eliminating 2,563 jobs in Q2 and consolidated operations to improve cost efficiency amid ongoing economic risks.
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Winston-Salem Journal
Winston-Salem JournalWells Fargo reports 12% second-quarter profit gain as bank emerges from Fed asset cap
The 12.4% profit gain for the second quarter comes in Wells Fargo & Co.'s first quarterly report since the Federal Reserve Board's June 3 decision that allows the bank to grow beyond the $1.95 trillion asset cap established in February…
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Total News Sources15
Leaning Left4Leaning Right2Center5Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 36%
C 45%
R 18%
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