“We expect to achieve positive operating leverage of greater than 200 basis points for the full year.”

In context

“ies remain. We will now provide second-quarter and full-year 2025 forward-looking guidance based on our current expectations. Starting with the second quarter 2025 guidance, we expect net interest income for the second quarter on a fully taxable equivalent basis to be in the range of $4.1 billion to $4.2 billion. Total non-interest income is expected to be a We expect total non-interest expense to be $4.2 billion or lower in the second quarter. And we expect to deliver positive operating leverage in the second quarter of 200 basis points or more on a year-over-year adjusted basis. I'll now provide full-year 2025 guidance, which is consistent with our previous guidance. Total net revenue growth on an adjusted basis is estimated to be in the range of 3% to 5% compared to the full year 2024. We expect to achieve positive operating leverage of greater than 200 basis points for the full year. Slide twenty shows that we have made measurable progress toward achieving our medium-term targets. Compared to the first quarter of 2024, we have improved both our profitability and efficiency ratios and have continued to enhance our capital position positioning and operating leverage trajectory. We have more work to do, but we are pleased with our progress to date. Now hand it back over to Gunjan for closing remarks. Gunjan Kedia: Thank you, John. Let me close on slide twenty-one. I am excited to lead our exceptional bank into the future. Over the last two years, we have been focused on integrating our Union Bank franchise and then swiftly building back capital after the banking failures of 2023. We are now focused on organic growth, and our momentum on expenses is timely as we navigate”