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Wells Fargo CFO sticks with 2021 net interest income guidance

Published 06/15/2021, 09:10 AM
Updated 06/15/2021, 11:32 AM
© Reuters. FILE PHOTO: A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon/File Photo

(Reuters) - Wells Fargo (NYSE:WFC) & Co Chief Financial Officer Mike Santomassimo said on Tuesday that the bank is standing by its previous guidance that net interest income for 2021 will be flat-to-down 4% from the annualized level seen in last year's fourth quarter.

Speaking at an investor conference held virtually, Santomassimo said that for the bank to achieve the middle of that range it needs to see flat loan totals. "Overall loans are down right now, so we will see how that shakes out," he said.

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