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Net interest income totaled $12.1 billion, up from a year earlier.
Wells Fargo's net interest income and noninterest income both missed analysts’ first-quarter estimates.
KEY POINTS
- Net interest margin narrowed to 2.47% and is expected to compress further in the second quarter.
- Wells Fargo disclosed $36.2 billion in loans to private-credit firms within its $210.2 billion nonbank financial exposure.
- Net gains from trading activities rose 38% to $1.35 billion, with trading's share in NII increasing.
- Loan-loss provisions increased 22% to $1.14 billion, slightly above analysts’ expectations.
COMPANIES
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