Truist Financial Corporation (TFC-PI)

Truist’s Loan Income Misses Estimates as Deposit Costs Weigh

(Bloomberg) -- Truist Financial Corp. posted lower first-quarter lending profits than analysts expected as it was forced to pay customers more for deposits with interest rates remaining elevated, and the bank trimmed its revenue guidance for the rest of the year.Most Read from BloombergTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayTikTok to Remove Executive Tasked With Fending Off US ClaimsRay Dalio’s Famous Trade Is Sputtering and Investors Are BailingUS Dollar’s Extended Reign