Wells Fargo CFO Mike Santomassimo Says Consumer Continues To Be Resilient But Expects Some Deterioration In Credit Going Ahead
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo CFO Mike Santomassimo noted the resilience of the consumer sector but anticipates some deterioration in credit in the future, according to Reuters.
February 26, 2024 | 1:21 pm
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Wells Fargo's CFO anticipates future credit deterioration despite current consumer resilience.
The anticipation of credit deterioration by the CFO of Wells Fargo suggests potential future financial challenges for the bank. This outlook could lead to increased provisions for credit losses, impacting profitability and possibly investor sentiment towards WFC in the short term.
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