Wells Fargo & Company · NYSE:WFC
Wells Fargo & — Q2 2025 Earnings Presentation
21 slides from Wells Fargo &'s earnings presentation, Jul 15, 2025
Slide 1: 2Q25 Financial Results
2Q25 Financial Results July 15, 2025 © 2025 Wells Fargo Bank, N.A. All rights reserved.
Slide 2: 2Q25 results
2Q25 results • Net income of $5.5 billion, or $1.60 per diluted common share, included: – $253 million, or $0.06 per share, gain associated with our acquisition of the remaining interest in our merchant services joint venture • Revenue of $20.8 billion, up 1% Financial Results – Net interest income
Slide 3: 2Q25 earnings
2Q25 earnings Quarter ended $ Change from $ in millions, except per share data 2Q25 1Q25 2Q24 1Q25 2Q24 Net interest income $11,708 11,495 11,923 $213 (215) Noninterest income 9,114 8,654 8,766 460 348 Total revenue 20,822 20,149 20,689 673 133 Net charge-offs 997 1,009 1,303 (12) (306) Change in th
Slide 4: Net interest income
Net interest income Net Interest Income ($ in millions) • Net interest income down $215 million, or 2%, from 2Q24 driven by the impact of lower interest rates on floating rate assets and the impact of deposit mix changes, partially offset by lower market funding and lower deposit costs 11,923 11,690
Slide 5: Loans and deposits
Loans and deposits Average Loans Outstanding ($ in billions) Average Deposits ($ in billions) 1,346.5 1,341.7 1,353.8 1,339.3 1,331.7 917.0 910.3 906.4 908.2 916.7 111.1 92.6 72.5 50.5 46.3 108.0 118.3 123.4 123.6 Corporate 102.8 382.2 379.7 378.1 375.0 373.4 194.3 205.1 203.9 202.4 Wealth and 187.5
Slide 6: Noninterest income
Noninterest income Noninterest Income ($ in millions) • Noninterest income up $348 million, or 4%, from 2Q24 1 – Investment advisory fees and brokerage commissions up $80 million, or 9,114 3%, driven by higher asset-based fees reflecting higher market valuations 8,766 – Net gains from trading activi
Slide 7: Noninterest expense
Noninterest expense Noninterest Expense ($ in millions) • Noninterest expense up $86 million, or 1%, from 2Q24 – Operating losses down $182 million on lower customer remediation expense and litigation accruals 13,900 13,891 – Personnel expense up $134 million on higher revenue-related compensation 1
Slide 8: Credit quality: net loan charge-offs
Credit quality: net loan charge-offs 1 Provision for Credit Losses and Net Loan Charge-offs ($ in millions) • Commercial net loan charge-offs up $36 million to 18 bps of average loans (annualized) as $71 million higher commercial and industrial net loan charge-offs were partially offset by a $34 mil
Slide 9: Credit quality: allowance for credit losses for loans
Credit quality: allowance for credit losses for loans Allowance for Credit Losses for Loans ($ in millions) • Allowance for credit losses (ACL) for loans up $16 million – Allowance coverage for total loans down 3 bps from 2Q24 and down 1 bp from 1Q25 14,789 14,739 14,636 14,552 14,568 6,553 6,647 6,
Slide 10: Capital and liquidity
Capital and liquidity 1 Common Equity Tier 1 Ratio under the Standardized Approach Capital Position 1 • Common Equity Tier 1 (CET1) ratio of 11.1% at June 30, 2025 11.3% • CET1 ratio up 11 bps from 2Q24 and up 3 bps from 1Q25 11.0% 11.1% 11.1% 11.1% – The Company’s stress capital buffer (SCB) is exp
Slide 11: Consumer Banking and Lending (CBL)
Consumer Banking and Lending (CBL) Summary Financials • Total revenue up 2% YoY and up 4% from 1Q25 $ in millions (mm) 2Q25 vs. 1Q25 vs. 2Q24 – CSBB up 3% YoY driven by higher net interest income; up 5% from Revenue by line of business: 1Q25 on higher net interest income and seasonally higher debit
Slide 12: Commercial Banking (CB)
Commercial Banking (CB) Summary Financials • Total revenue down 6% YoY and up modestly from 1Q25 $ in millions 2Q25 vs. 1Q25 vs. 2Q24 – Net interest income down 13% YoY driven by the impact of lower interest Net interest income $1,983 $6 (298) rates, partially offset by lower deposit pricing and hig
Slide 13: Corporate and Investment Banking (CIB)
Corporate and Investment Banking (CIB) Summary Financials • Total revenue down 3% YoY and down 8% from 1Q25 $ in millions 2Q25 vs. 1Q25 vs. 2Q24 Revenue by line of business: – Banking revenue down 7% YoY driven by the impact of lower interest rates, partially offset by lower deposit pricing and high
Slide 14: Wealth and Investment Management (WIM)
Wealth and Investment Management (WIM) Summary Financials • Total revenue up 1% YoY and up 1% from 1Q25 $ in millions 2Q25 vs. 1Q25 vs. 2Q24 – Net interest income down 2% YoY driven by the impact of lower interest Net interest income $891 $65 (15) rates, partially offset by higher deposit and loan b
Slide 15: Corporate
Corporate Summary Financials • Revenue increased YoY reflecting the $253 million gain associated with our $ in millions 2Q25 vs. 1Q25 vs. 2Q24 acquisition of the remaining interest in our merchant services joint venture Net interest income ($103) ($139) 41 Noninterest income 662 875 270 • Noninteres
Slide 16: Outlook
Outlook Expect 2025 net interest income (NII) to be roughly in line with 2024 NII of $47.7 billion • The largest driver of the change from our prior guidance is lower NII in our Markets business Net Interest (largely offset by higher noninterest income) Income • Net interest income performance will
Slide 17: Endnotes
Endnotes Page 2 – 2Q25 results 1. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” table on page 19. 2. The ef
Slide 18: Endnotes (continued)
Endnotes (continued) Page 8 – Credit quality: net loan charge-offs 1. Includes provision for credit losses for loans, debt securities, and other financial assets. Page 10 – Capital and liquidity 1. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 r
Slide 19: Tangible Common Equity
Tangible Common Equity Wells Fargo & Company and Subsidiaries TANGIBLE COMMON EQUITY We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling int
Slide 20: Common Equity Tier 1 under Basel III
Common Equity Tier 1 under Basel III Wells Fargo & Company and Subsidiaries 1 RISK-BASED CAPITAL RATIOS UNDER BASEL III Estimated Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, ($ in billions) 2025 2025 2024 2024 2024 Total equity $183.0 182.9 181.1 185.0 178.1 Adjustments: Preferred stock (16.6) (18.6) (1
Slide 21: Disclaimer and forward-looking statements
Disclaimer and forward-looking statements Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and may differ materially from the results and disclosures i
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