Bank of America Is Now More Efficient Than Wells Fargo

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