Why the Newest Big Bank on the Block Should Outperform
Truist Financial (NYSE: TFC), the sixth-largest bank in the U.S., formed last December from the merger of SunTrust and BB&T. With $504 billion in assets as of June 30, it is among the largest regional banks in the country. While all banks are facing headwinds during the coronavirus-sparked recession, Truist has some key differentiators that should help it outperform its peers. When it posted earnings on July 16, Truist said it saw quarterly net income rise 7.1% to $901 million, compared to the same period a year ago.