0909 ET - Wells Fargo is projecting net interest income to be about 1% to 3% higher in 2025. The bank is expecting average loans to grow modestly helped by growth in auto lending and credit card balances, and for average deposits to tick up across all operating segments, allowing for a pullback in higher-cost market funding. Interest income should also benefit from a repositioning of Wells Fargo's investment portfolio that occurred in the second half of 2024, the bank says. Trading-related net interest income is estimated to come in higher as well, though it will be largely offset by a drop in trading-related noninterest income, Wells Fargo says. Wells Fargo climbs 5% premarket. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 09:09 ET (14:09 GMT)
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