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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