Wells Fargo may lose $2 billion to $3 billion on its CRE office loan portfolio, CEO says-March 2024-www.financetom.com

Wells Fargo may lose $2 billion to $3 billion on its CRE office loan portfolio, CEO says

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Wells Fargo may lose $2 billion to $3 billion on its CRE office loan portfolio, CEO says

Nov 3, 2024 11:07 AM

Oct 24 (Reuters) - Wells Fargo ( WFC ) Chief Executive

Officer Charlie Scharf said on Thursday that the U.S. lender may

lose $2 billion to $3 billion on its commercial real estate

office loan portfolio.

"We've reserved for all of it, so the balance sheet is

de-risked, but it's going to play out over three, four years,"

Scharf said at an event.

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