Wells Fargo & Company provided net interest income guidance for the second half of the year 2022 and full year 2022. As the company looks ahead to the second half of the year, the company expects the growth in net interest income to more than offset any further pressure on noninterest income.

The company started the year expecting full year net interest income to grow by approximately 8% compared with 2021. Last quarter, the company raised guidance to an increase in the mid-teens. With the market now expecting not only more rate hikes but also larger ones, the company currently expects net interest income in 2022 to increase approximately 20% from 2021.