Wells Fargo business model defines simplicity at its best, differ from Citigroup, Bank of America or JPMorgan Chase, that depend heavily investment banking operations, trading revenue, and other income streams to stay profitable, Wells Fargo operates more like a traditional savings and loan.
Basically all of its business is customers deposit money into accounts then Wells Fargo loans the money to other customers at a higher interest rate. It is an oversimplification that isn’t too far off the mark nonetheless his basic modal will always be in demand, as some people always need a safe place to keep their money while other needs a way to borrow money for major purchases. Furthermore Wells Fargo’s size gives it a unique competitive advantage, allowing it to use economies of scale to cut costs and run more efficiently.
In summary, Wells Fargo can be described as “megabank” size running “community bank” business.