WFC Reported this cycle

Wells Fargo

San Francisco, CA Banking & Capital Markets

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Latest analysis

Updated Jul 28, 2026

Wells Fargo Q2 2026: Net income +16% YoY to $6.4B on investment banking strength; NII growth offsets deposit repricing headwinds.

Wells Fargo delivered Q2 2026 net income of $6.4 billion, up 16% year-over-year, driven by 35% growth in investment banking fees and 50% gains in trading revenue. Net interest income expanded 5% QoQ to $12.3 billion despite ongoing deposit repricing pressure, signaling NIM stabilization as the deposit maturity cycle moderates. Capital markets revenue (investment banking, trading, advisory) now represents a structural offset to NII cyclicality, with the efficiency ratio held flat quarter-over-quarter at 60.3% amid technology and personnel cost inflation.

Tone: bullish

Revenue

$83.7B

WFC 10-K · FY 2025

Employees

205,000

Revenue FY2024

$82.3B

Headquarters

San Francisco, CA

Profile

WFC 10-K Item 1 · Feb 24, 2026

Wells Fargo & Company is a Delaware-incorporated financial holding company and the fourth-largest U.S. bank by assets, with approximately $2.1 trillion in total assets at year-end 2025. It provides a diversified set of banking, investment, mortgage, and consumer and commercial finance products to individuals, businesses, and institutions primarily in the United States. Its four reportable segments are Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

Read filing description ↓

We are a leading financial services company that provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses and institutions, primarily in the U.S., as well as in countries outside the U.S. We provide consumer financial products and services including checking and savings accounts, credit and debit cards, and home, auto, personal, and small business lending. In addition, we provide personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services. We also provide financial solutions to private, family owned and public companies through products and services including banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management. We also provide a suite of capital markets, banking and financial products and services to corporate, commercial real estate, government and institutional clients through corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity and fixed income solutions, as well as sales, trading, and research capabilities.

Primary products

checking and savings accounts
credit and debit cards
home lending
auto lending
personal lending
small business lending

Business segments

Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management

End markets

individuals businesses institutions private companies family owned companies public companies municipalities corporate clients commercial real estate clients government clients

Geographies

United States countries outside the U.S.

“The financial services industry is highly competitive.” Competitive position, as stated in the filing

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Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.

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