Wells Fargo said the results did not include an estimate because “we are unable to predict final resolution” of the matter. “I’m confident that our outstanding team will continue to transform Wells Fargo into a better, stronger company,” chief executive officer Tim Sloan said. Lending should pick up as more businesses take action following US tax reform, Lake said. Citigroup, which reported higher corporate lending, also expects more of a pickup in activity later in the year due to the tax bill. “The real benefits of tax reform are yet to be felt in the overall economy,” Gerspach said.

Source: Taipei Times April 14, 2018 15:56 UTC