finance
Wells Fargo CEO Reports Improved Consumer Spending and Growth in Investment Banking
Wells Fargo CEO Charlie Scharf said consumer spending has improved in recent weeks. He also stated that the bank's investment banking and markets businesses are performing well with expected revenue growth.
May 27, 4:57 PM·1m read1 source
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Wells Fargo CEO Charlie Scharf said consumer spending has improved in recent weeks. He added that businesses remain cautious but financially strong. Scharf stated that the bank's investment banking and markets businesses are performing well.
He said second-quarter revenue in those divisions is expected to rise in the mid-teens percentage range. The wealth business is projected to deliver low double-digit revenue growth, Scharf said.
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