Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Truist beats quarterly profit estimates on investment banking gains

admin by admin
January 17, 2025
in Economy
0
Truist beats quarterly profit estimates on investment banking gains
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

(Reuters) – Truist Financial (NYSE:TFC) on Friday exceeded Wall Street estimates for fourth-quarter profit, helped by stronger investment banking and trading activity as capital markets strengthened.

A resilient economy, declining interest rates and expectations of relaxed regulations under the Trump administration have boosted corporate enthusiasm for mergers and acquisitions.

Equity and debt issuance also surged in the latter half of 2024.

Charlotte, North Carolina-based Truist’s shares rose nearly 3% in premarket trading on Friday.

The bank’s performance aligns with that of larger competitors such as JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC), which exceeded their quarterly profit forecasts on the back of investment banking gains.

Truist’s investment banking and trading income increased by 58.8% to $262 million in the fourth quarter from a year ago. However, it was down 21.1% from the previous quarter.

The bank’s net interest income, or the difference between what a bank earns on loans and pays out on deposits, rose nearly 2% to $3.64 billion.

Net interest margin, which measures lending profitability, expanded to 3.07%, compared with 2.95% a year earlier.

Truist’s quarterly adjusted net income available to common shareholders was $1.21 billion, or 91 cents per share, surpassing estimates of $1.18 billion, or 88 cents, according to estimates compiled by LSEG.

Provision for credit losses declined by nearly 18% in the quarter.

For fiscal 2025, Truist expects its adjusted revenue to rise between 3% and 3.5%, compared with 2024.

This post appeared first on investing.com

Previous Post

Mullen Automotive stock analysis: Will MULN survive in 2025?

Next Post

UK financial regulator pledges to help government boost growth

admin

admin

Next Post
UK financial regulator pledges to help government boost growth

UK financial regulator pledges to help government boost growth

Trending News

Waymo’s potential: how big of an opportunity is it for Google?

Waymo’s potential: how big of an opportunity is it for Google?

April 30, 2025
Affirm stock price forecast: set to enter beast mode soon

Affirm stock price forecast: set to enter beast mode soon

December 7, 2024
CLSA shifts focus from China to India amid Trump’s return and economic challenges

CLSA shifts focus from China to India amid Trump’s return and economic challenges

November 15, 2024
Subscribe to Insightful Word


    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025
    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    June 5, 2025
    Why Bank of America sees 13% upside on Roblox (RBLX)

    Why Bank of America sees 13% upside on Roblox (RBLX)

    June 5, 2025

    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025

    Latest News

    • ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant
    • Ripple releases $2.18B in XRP, price dips 2%
    • Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.