Wells Fargo CFO: Bank earnings 'speak for themselves'

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Wells Fargo CFO John Shrewsberry on Wednesday deflected an analyst's questions over the quality of the bank's earnings, saying the results "speak for themselves."

Reuters reports that during a question and answer session at a conference in New York, Deutsche Bank analyst Matt O'Connor asked Shrewsberry about concerns Wells Fargo's earnings have been "lower quality," or driven by market-related factors that might be difficult to repeat, as opposed to more traditional banking activities such as taking deposits and making loans.

Shrewsberry said the issue "might be a fun academic topic for analysts - you know, getting together and arguing about what's core and what's non-core," but is not a major source of concern at the bank.

Shrewsberry said the bank's earnings "have been the strongest in the business for at least the last five years or so."

To access the complete Reuters article hit the link below:

Wells Fargo CFO downplays questions over earnings quality

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