U.S. Markets open in 5 hrs 14 mins

How Rate Hikes Are Affecting Wells Fargo

Robert Karr
How Rate Hikes Are Affecting Wells Fargo

Wells Fargo (WFC) benefited alongside other bankers from rising rates, which resulted in better rate spreads for existing loan books. The bank continues to command the highest net interest margins (or NIMs) among peers (XLF). However, rate hikes going forward aren’t expected to boost margins, and will instead put pressure on further lending due to higher interest rates.