June 12, 2019 / 2:00 PM / 6 months ago

Wells Fargo sees net interest income at low end of guidance

FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith

(Reuters) - Wells Fargo & Co’s annual net interest income will likely come in at the lower range of its expectations, a bank executive said.

Speaking at an investor conference on Wednesday, Treasurer Neal Blinde said the current rate environment was already baked into the bank’s guidance of a 2 to 5% decline, but downward pressure on interest rates moves sentiment to the lower end of the range.

(Corrects headline of this story to say net interest income, not revenue, will be down.)

Reporting by Imani Moise; Editing by Chizu Nomiyama

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