Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Wells Fargo & Company (WFC) Halal?

FAIL

Wells Fargo & Company · NYSE: WFC · Financials

The short answer

No - Wells Fargo & Company (WFC) fails this Shariah stock screen at all three gates. Wells Fargo, the San Francisco-based bank holding company (~$2.1 trillion in assets, $986.2B in loans), has conventional interest-based lending and deposit-taking as its core business - a haram activity under AAOIFI-style screens. Total borrowings of $425,722m are about 174.1% of its ~$244.5B market cap ($80.25/share, October 1, 2026), far above the ~33% ceiling, and net interest income of $47,484m is about 56.7% of FY2025 revenue ($83,699m), far above the 5% ceiling. Zoya independently rates WFC not Shariah-compliant. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: FAIL

Wells Fargo & Company (NYSE: WFC), headquartered in San Francisco, California, is a Delaware financial holding company and bank holding company whose principal business is acting as a holding company for its subsidiaries, including Wells Fargo Bank, N.A. Per its Form 10-K for the fiscal year ended December 31, 2025 (Commission File No. 001-2979), it had total assets of about $2.1 trillion, loans of $986.2B, and deposits of $1.4 trillion - the fourth largest US bank holding company by assets. Business-screen implication (factual): the core business is conventional interest-based lending and deposit-taking - interest income is the dominant revenue driver (net interest income $47,484M of $83,699M total revenue). Conventional banking is a haram core activity under AAOIFI-style screens; this pipeline's precedent (Bank of America, Citigroup, Capital One) screens conventional banks as business-gate fails. Gate 1 fails. Facts only.

Gate 2 — Debt and cash: FAIL

Per Wells Fargo's Form 10-K for the fiscal year ended December 31, 2025, total short-term borrowings were $251,010M (federal funds purchased and repurchase agreements $232,687M plus other short-term borrowings $18,323M) and long-term debt was $174,712M - total borrowings of $425,722M. Against a market cap of about $244.5B ($80.25 per share, October 1, 2026, times about 3.075 billion shares outstanding), debt / market cap is about 174.1% - far above the ~33% ceiling. Even long-term debt alone ($174,712M) is about 71.5% of market cap. Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: FAIL

Per Wells Fargo's Q4 2025 earnings release (January 14, 2026), FY2025 net interest income was $47,484M and total revenue was $83,699M (noninterest income $36,215M) - net interest income is about 56.7% of revenue, far above the 5% non-compliant income ceiling. Third-party screener Zoya independently reports gross interest income of $87,314M against combined revenue of $123,529M (70.68%) - the same conclusion. Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does Wells Fargo do?

Wells Fargo & Company (NYSE: WFC), based in San Francisco, California, is a Delaware financial holding company and bank holding company whose principal business is acting as a holding company for its subsidiaries, including Wells Fargo Bank, N.A. Per its Form 10-K for the fiscal year ended December 31, 2025, it had total assets of about $2.1 trillion, loans of $986.2B, and deposits of $1.4 trillion - the fourth largest US bank holding company by assets. Its core business is conventional interest-based lending and deposit-taking.

Why does Wells Fargo fail this Shariah screener?

Wells Fargo fails this Shariah screener at all three gates. Gate 1 (business activity): conventional commercial banking - interest-based lending and deposit-taking - is the core business, a haram activity under AAOIFI-style screens. Gate 2 (debt): total borrowings of $425,722M are about 174.1% of its ~$244.5B market cap, far above the ~33% ceiling (long-term debt alone is about 71.5%). Gate 3 (non-compliant income): net interest income of $47,484M is about 56.7% of FY2025 total revenue ($83,699m), far above the 5% ceiling. Result: FAIL. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Wells Fargo's interest-bearing debt ratio?

Per Wells Fargo's Form 10-K for the fiscal year ended December 31, 2025 (Commission File No. 001-2979), total short-term borrowings were $251,010M (federal funds purchased and repurchase agreements $232,687M plus other short-term borrowings $18,323M) and long-term debt was $174,712M - total borrowings of $425,722M. Against a market cap of about $244.5B ($80.25 per share, October 1, 2026, times about 3.075 billion shares outstanding), debt / market cap is about 174.1% - far above the ~33% ceiling. Even long-term debt alone ($174,712M) is about 71.5% of market cap. Gate 2 fails. Facts only.

How much interest income does Wells Fargo earn?

Per Wells Fargo's Q4 2025 earnings release (January 14, 2026), FY2025 net interest income was $47,484M and total revenue was $83,699M (noninterest income $36,215M) - net interest income is about 56.7% of revenue, far above the 5% non-compliant income ceiling. Third-party screener Zoya independently reports gross interest income of $87,314M against combined revenue of $123,529M (70.68%) - the same conclusion. Gate 3 fails. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover Wells Fargo?

Zoya covers Wells Fargo at zoya.finance/stocks/wfc (updated September 2026) and rates it NOT Shariah-compliant ('not considered halal to invest in'), citing FY2025 revenue of $123,529M and interest income of $87,314M (70.68%). Musaffa: no public Wells Fargo ticker/coverage page was found in web searches - honestly reported as no verifiable coverage, not invented. ShariaPortfolio: no public per-ticker Wells Fargo coverage was found - honestly reported as no coverage found, not invented.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).