Wells Fargo says no material impact from Brexit vote

Wed Aug 3, 2016 3:19pm EDT
 
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(Reuters) - Wells Fargo & Co WFC.N 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 as of June 30.

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

(Reporting by Nikhil Subba in Bengaluru; Editing by Savio D'Souza)

 
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016.  REUTERS/Rick Wilking