- Wells Fargo & Co. Chief Financial Officer Michael Santomassimo said that the lender’s net interest margin is expected to be better than initially expected.
Coming into the quarter, Santomassimo said executives thought the margin would be down three or four basis points. Now, the measure is likely to be down one basis point or potentially even flat, he said Tuesday at a Barclays Plc conference.*
https://www.bloomberg.com/news/articles/2026-09-15/wells-fargo-cfo-points-to-better-than-expected-interest-margin
... but we will still ✂️ people to improve our efficiency ratio. The target is below 60% for the full year.