In Q4 FY24, Truist Financial Corporation strengthened its performance through strategic initiatives, including enhanced efficiency and balance sheet optimization. Despite a mixed economic environment, key metrics reflected operational resilience.
📊 Income Statement Highlights (vs 4Q23):
▫️ Net Income: $1.28B vs -$5.09B (Goodwill impairment in 4Q23)
▫️ Total Revenue: $5.11B vs $4.94B (+3.44%)
▫️ Adjusted EPS: $0.91 vs $0.81 (+12.35%)
▫️ Net Interest Income: $3.64B (+1.76%)
▫️ Noninterest Income: $1.47B (+7.85%)
▫️ Efficiency Ratio: 57.7% vs 55.0% (Adjusted)
Particulars:
▫️ Mortgage Banking Income: $117M (+24.47%)
▫️ Investment Banking Income: $262M (+58.79%)
💼 Balance Sheet Highlights (vs 4Q23):
▫️ Total Assets: $531.18B (-0.78%)
▫️ Deposits: $390.52B (-1.35%)
▫️ Loans & Leases: $307.77B (-1.77%)
▫️ CET1 Ratio: 11.5% (+140 bps)
▫️ Tangible Book Value per Share: $30.01 (+37.57%)
Particulars:
▫️ Allowance for Loan Losses (ALLL): $5.16B (+1.33%)
▫️ Nonperforming Loans Ratio: 0.47%
🔮 Future Outlook
Truist enters 2025 with strong momentum, focusing on client growth and operational discipline. Strategic investments in technology and risk infrastructure aim to enhance credit quality and drive sustainable profitability.