Wells Fargo & Co expects an upside in net interest income going ahead, Chief Financial Officer Mike Santomassimo said on Tuesday.
Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moonexpects an upside in net interest income going ahead, Chief Financial Officer Mike Santomassimo said on Tuesday.
"We had booked up about $650 million allowance increase last quarter; it could be a little higher than that, could be closer to a billion depending on where it all shakes out," Santomassimo said. The San Francisco-based bank also warned that, as attrition has slowed down, there could be some onetime expenses by the end of the year in terms of severance.
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