Truist Financial Corporation ( (TFC) ) has released its Q4 earnings. Here is a breakdown of the information Truist Financial Corporation presented to its investors.
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Truist Financial Corporation is a leading U.S. commercial bank headquartered in Charlotte, North Carolina, offering a wide range of financial services including consumer and small business banking, commercial banking, and wealth management.
Truist Financial Corporation has reported its fourth quarter 2024 earnings, showcasing a net income available to common shareholders of $1.2 billion, or $0.91 per share. The company saw a growth in average deposits by $5.7 billion and completed a $500 million share repurchase.
The key financial highlights include a slight decrease in total revenue, primarily due to a 0.4% drop in net interest income and a 0.9% dip in noninterest income. Noninterest expense increased by 3.7%, driven by higher professional fees and equipment expenses. Asset quality remained stable with a minor decrease in nonperforming loans.
Capital levels remained robust as Truist repurchased $500 million in common shares and maintained a CET1 ratio of 11.5%. The company returned $3.8 billion of capital to shareholders through dividends and share repurchases in 2024.
Looking ahead, Truist Financial Corporation remains committed to enhancing client relationships, investing in core banking and technology, and maintaining its credit and expense discipline as it moves into 2025 with strong momentum.
