Wells Fargo Sees Q4 Growth Despite Shrinking Interest Margin, Higher Costs

To make matters worse, the bank's non-interest expenses jumped almost 5% year-on-year and 3% quarter-on-quarter - outpacing revenue growth for both these periods. The resulting reduction in Wells Fargo's operating margin for the period also did not go down well with investors, as the bank has relied considerably on managing its expenses to maintain profitability over recent quarters. However, the bank saw marked improvement in its card fees and investment banking fees. Also, Wells Fargo is well ...