Truist reported steady quarterly results, driven by stable capitalization and loan quality, but assets were more sensitive to rate cuts as net interest income and margins both declined.
Truist reported solid quarterly results, driven by an increase in NII and net interest margins with credit quality also showing improvement; loan growth continues to be challenging.
Our credit view of this issuer reflects the firm's funding structure, supported by its financial strength, certain low-yielding assets and Truist's profitability.
Earnings pressure continues with elevated rates and modest loan growth, but is likely to ease even if asset quality remains a bit weaker than historical averages.
Our credit view of this issuer reflects its strong franchise and material increase in capital somewhat offset by a more concentrated revenue mix following the sale of TIH.
Higher core earnings were largely driven by strong investment banking income and lower provisions. Modest CRE and nonresidential consumer loan asset quality weakness will continue in 2024.
Our credit view of this issuer reflects its status as a strong and diverse bank. The review reflects our view of the credit negative sale of the bank's insurance agency business.
Truist reported a net loss due to a goodwill impairment. However, core income rose modestly as revenue was flat and core expenses declined. Profitability will likely decline a bit in 2024.
Our credit view of this issuer reflects its status as a strong and diverse deposit franchise, constrained by its weaknesses in asset-liability management.
Truist reported lower net interest income as average loans dropped, in large because of the sale of its student loan portfolio, with NIM improving modestly. Asset quality was mixed.
Our credit view of this issuer reflects its status as a strong and diverse deposit franchise, constrained by its weaknesses in asset-liability management.
Truist reported lower NIM and net interest income as funding costs rose materially faster than loan yields. Asset quality continues to modestly worsen as economic conditions soften.
Truist reported strong growth in net interest income and robust loan growth, which more than offset modestly higher expenses and loan loss provisions, though credit remains remain strong.
Our credit view of this issuer reflects its sizable wealth management platform, constrained by a reduction in capital that follows multiple quarters of reserve releases.
Truist reported strong growth in net interest income and robust loan growth, which offset modestly higher expenses and higher loan loss provisions, though credit remains remain strong.
Truist reported its best cost/income ratio in more than two years as the merger integration is largely complete. Credit remained strong, but capitalization fell modestly.
Our credit view of this issuer reflects its franchise diversity and receding integration risks, against its comfort operating at a lower capital level.
Truist reported weaker earnings on lower revenue, but credit quality remained strong and the merger integration is largely complete. However, capitalization fell modestly.
Our credit view of this issuer reflects its diverse franchise and healthy balance sheet, as well as the remaining integration and execution risks from the BB&T/SunTrust merger.