Wells Fargo expects loan growth by 2026, focusing on credit cards and auto loans

LootboxPhobia · 2026-02-12T13:02:35+00:00

Wells Fargo expects loan growth by 2026, especially in credit cards and auto loans. The Chief Financial Officer stated that credit card business is steadily growing, auto loans are also showing positive momentum, and mortgage lending is expected to stabilize. The bank will continue to expand its market through new products, with good credit performance and no signs of deterioration in consumer and commercial loans.

LootboxPhobia

2026-02-12 13:02:35

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Investing.com – Wells Fargo expects loan growth by 2026, with a particular focus on credit card and auto loan businesses, while anticipating its mortgage business will stabilize after previous declines, Chief Financial Officer Mike Santomassimo said Tuesday.

Speaking at the UBS Financial Services Conference, Santomassimo highlighted the strong performance of the credit card business, attributing it to new products launched over the past three to four years.

“In the credit card space, we’ve seen good growth. This growth trend has been quite stable for some time now,” Santomassimo said.

The bank plans to continue expanding its credit card business by launching more products targeted at wealth management clients and other customer segments.

After the Federal Reserve lifted the $1.95 trillion asset cap in June, Wells Fargo is now focused on organic growth, an move that eliminated major penalties related to the bank’s fake account scandal and created new growth opportunities.

With the cap lifted, the bank is advancing its previously planned balance sheet expansion while maintaining prudent credit quality and increasing investments in credit cards, auto loans, and investment banking.

Santomassimo noted that the auto loan business has shown positive momentum in recent quarters, benefiting from prioritized financing partnerships with Volkswagen and Audi in the U.S.

“We are very optimistic about the current momentum. Therefore, we should expect overall growth to continue,” he said.

Driven by increased issuance and rising loan balances, the auto business recovered in 2025.

The bank’s previously declining mortgage business is expected to stabilize and remain relatively steady throughout 2026.

Santomassimo also reported that spending levels on debit and credit cards remained strong earlier this year, laying a foundation for a positive year in the bank’s consumer banking operations.

“Credit performance remains very good. We haven’t seen any signs of systemic deterioration in consumer or commercial portfolios,” Santomassimo added.

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