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Consumer Activity Strengthening According to Bank Results



  • The economic outlook continues to improve, and seing early signs of commercial real estate loan growth.
  • Card payment rates have stabilized, contributing to modest Card loan growth, but total CCB loans were down 2% reflecting elevated prepayments in mortgage products.
  • Originations in mortgage lending remain strong, up 43%


  • Expects more loan growth across all products as businesses regain organic customer growth momentum seen pre-pandemic
  • Consumer activity rising sharply: Combined credit and debit card spend up 21%, with consumer investment accounts up 9% across the period

Wells Fargo:

  • Small business owners have used their Open for Business Fund to pivot to new business models, buy needed supplies and close the gap on rent and utilities
  • CSBB up 2% Y/Y primarily due to an increase in consumer activity, including higher debit card transactions


  • Recovery from pandemic is creating very active client engagement
  • While strong consumer balance sheets have impacted lending, we are seeing higher consumer spending across our cards products
MNI London Bureau | +44 203-865-3809 |

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