A $1.6 billion loan-loss reserve release — and an 8.3% drop in noninterest expenses, buoyed by a 5,000-person headcount cut — drove the bank's surge.
Original source: https://www.bankingdive.com/news/wells-fargo-charges-ahead-to-6b-q2-profit/603327/
A $1.6 billion loan-loss reserve release — and an 8.3% drop in noninterest expenses, buoyed by a 5,000-person headcount cut — drove the bank's surge.
Original source: https://www.bankingdive.com/news/wells-fargo-charges-ahead-to-6b-q2-profit/603327/