Wells Fargo Targets 17-18% ROTCE: What's Powering Profitability Push?

Key Takeaways Wells Fargo raises its ROTCE goal to 17-18% from the 15% mentioned previously. The removal of the Fed's asset cap enables WFC to expand lending and fee-based businesses. Cost cuts, branch closures and CET1 optimization support higher returns and margins. Wells Fargo & Company (WFC) announced that it is aiming for a 17-18% return on tangible common equity (ROTCE) over the medium term, up from the earlier target of 15%. This move underscores the company’s growing confidence in its profitability ...