Wells Fargo Forecasts Smaller Noninterest Expense This Year -- Market Talk

Dow Jones

2025/01/15

0929 ET - Wells Fargo projects noninterest expenses to decline slightly to about $54.2 billion in 2025, according to an investor presentation. That's down from $54.6 billion in 2024 and $55.6 billion the year before. The target assumes about $1.1 billion of operating losses. Revenue-related expenses in the company's Wealth and Investment Management division are forecast to be $600 million higher. But efficiency initiatives, including increased automation and enhanced digital infrastructure, should help offset rise in other costs, the bank says. (dean.seal@wsj.com)

(END) Dow Jones Newswires

January 15, 2025 09:29 ET (14:29 GMT)

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That's down from $54.6 billion in 2024 and $55.6 billion the year before. The target assumes about $1.1 billion of operating losses. Revenue-related expenses in the company's Wealth and Investment Management division are forecast to be $600 million higher. But efficiency initiatives, including increased automation and enhanced digital infrastructure, should help offset rise in other costs, the bank says. (dean.seal@wsj.com) \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 15, 2025 09:29 ET (14:29 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WFC","symbol_name":"富国银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2503642548","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503642548","pubTimestamp":1736951340,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0929 ET - Wells Fargo projects noninterest expenses to decline slightly to about $54.2 billion in 2025, according to an investor presentation. That's down from $54.6 billion in 2024 and $55.6 billion the year before. The target assumes about $1.1 billion of operating losses. Revenue-related expenses in the company's Wealth and Investment Management division are forecast to be $600 million higher. But efficiency initiatives, including increased automation and enhanced digital infrastructure, should help offset rise in other costs, the bank says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WFC":"富国银行"},"translate_title":"富国银行预测今年非利息支出将减少——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WFC":1},"content_text":"0929 ET - Wells Fargo projects noninterest expenses to decline slightly to about $54.2 billion in 2025, according to an investor presentation. That's down from $54.6 billion in 2024 and $55.6 billion the year before. The target assumes about $1.1 billion of operating losses. Revenue-related expenses in the company's Wealth and Investment Management division are forecast to be $600 million higher. But efficiency initiatives, including increased automation and enhanced digital infrastructure, should help offset rise in other costs, the bank says. (dean.seal@wsj.com) \n\n\n  (END) Dow Jones Newswires\n\n\n  January 15, 2025 09:29 ET (14:29 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}