Reported 2 days ago
Truist Financial announced a drop in its first-quarter profit, primarily driven by a decline in its investment banking and trading sectors amidst turbulent market conditions influenced by U.S. trade policies. The company's investment banking income fell 15.5% to $273 million, impacted by reduced merger and acquisition fees. While net interest income rose 3.8% to $3.56 billion, adjusted profits per share decreased slightly, aligning with analyst expectations. Truist's stock has dropped 17% this year, trailing behind the KBW Regional Banking Index.
Source: YAHOO