Wells Fargo raises 2026 loan growth forecast

Wells Fargo expects its 2026 loan growth to exceed its prior forecast of mid-single-digit percentage expansion. Speaking on 15 September at the Barclays 24th Annual Global Financial Services Conference, Chief Financial Officer Mike Santomassimo reported that consumer spending remains healthy and delinquency trends show no meaningful deterioration.

Average loans rose approximately 12% year over year in the second quarter, led by credit cards, auto lending and commercial loans. The bank is expanding its balance sheet after the Federal Reserve lifted an asset-growth restriction in June 2025 and terminated the remaining provisions of its 2018 enforcement action in March 2026.

For the third quarter, management expects investment banking fees and markets trading revenues to each rise at a mid-single-digit percentage rate. Third-quarter net interest margin is tracking better than earlier projections. Wells Fargo maintained its 2026 net interest income forecast at $50 billion and kept its expense guidance at $55.7 billion, supported by roughly $15 billion in gross expense cuts achieved over recent years.

The lender continues to target a medium-term return on tangible common equity of 17% to 18%, upgraded after topping its former 15% goal. Over the past year, Wells Fargo shares rose 8.8%, while the broader industry advanced 16.5%.