Bank of America Is Now More Efficient Than Wells Fargo
There are few banks in the United States as consistently efficient through the years as Wells Fargo (NYSE: WFC). But this reputation is now taking a hit.
Wells Fargo's second-quarter efficiency ratio, which measures the percent of revenue consumed by a bank's operating expenses, came in at 61.1% in the three months ended June 30. That was down from 62.7% in the first quarter, but nevertheless up from 58.1% in the second quarter of last year.
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Source: Fool.com
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