Wells Fargo & Co. expects its 2026 loan growth to surpass previous forecasts. Chief Financial Officer Mike Santomassimo shared this outlook at the Barclays Global Financial Services Conference on Tuesday. He cited a healthy U.S. economy, robust spending, and robust credit trends as key drivers. The bank had previously guided for mid-single-digit loan growth for the year.
Santomassimo noted that 12% loan growth in the first half of the year will likely moderate. He expects full-year results to be better than initially guided.
The bank observes no deterioration in delinquency trends. Consumer debt-to-income levels remain favorable.
The company maintained its full-year forecasts for net interest income and expenses.