Truist Financial reported its fourth-quarter and full-year earnings today, exceeding Wall Street expectations and sending shares nearly 3% higher in premarket trading.
The Charlotte based financial firm rounded out the week of big bank earnings by reporting an adjusted income of $1.21 billion in Q4, or $0.91 per share.
Truist’s full-year adjusted net income was $5.0 billion, up 3.3% compared to 2023.
Due to falling interest rates and anticipated regulatory easing, Truist expanded its corporate dealings, such as mergers and acquisitions, and equity and debt issuances in 2024.
Bill Rogers, Truist Chairman & CEO told investors, “2024 was an important year for Truist. We added new clients and deepened existing relationships, invested in our core banking business, made enhancements to our technology and risk infrastructure, and maintained our credit and expense discipline. We executed on several important strategic initiatives, including the sale of Truist Insurance Holdings and the repositioning of our balance sheet. These actions increased our capital and further enhanced our ability to support the growth needs of clients, while also returning capital to shareholders.”
The firm forecast an expected 3% to 3.5% revenue rise in 2025 compared with 2024.
“Going into 2025, we have strong momentum and look forward to growing with our clients in some of the best markets in the country. At our foundation is our purpose to inspire and build better lives and communities. Our dedication to our purpose, along with a clear strategy, deep expertise, seamless teamwork, and client focus positions us to drive our performance and increased profitability in 2025 and beyond.” Rogers concluded.
Truist currently reports a total asset value of $531 billion.
By CEO NA Editorial Staff
