Wells Fargo shareholders still upset over the bank’s misconduct can take solace that they’ll be getting rewarded for not bailing out.
Bank CEO Tim Sloan told CNBC that his goal is to reduce the company’s capital ratio so it can return more cash to investors.
“Over time, we want to return more of our excess capital to our shareholders,” Sloan said Friday in a CNBC interview.
The bank is coming off a year in which it returned $12.5 billion to shareholders through repurchases and dividends. That was just a slight decline from the $12.6 billion in 2015 but pretty consistent with recent years.
Though he didn’t mention specific cash levels or a time frame, Sloan was clear that the bank wants to free up more cash.