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Wells Fargo says no material impact from Brexit vote

Published 03/08/2016, 20:22
Updated 03/08/2016, 20:30
© Reuters. The sign outside the Wells Fargo & Co. bank in downtown Denver

(Reuters) - Wells Fargo & Co (N:WFC) said on Wednesday that it did not experience any material impact on its UK or other foreign businesses as a result of Britain's vote to leave the European Union.

Wells Fargo said the higher end of its potential litigation losses in excess of its liability for probable losses was about $1 billion (£750.9 million) as of June 30.

© Reuters. The sign outside the Wells Fargo & Co. bank in downtown Denver

The lender's total net exposure to the United Kingdom totalled $27.06 billion as of June 30.

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