CHARLOTTE, N.C. — Truist Monetary Corp., created in December 2019 with the merger of BB&T and SunTrust Banks, has reported earnings for the fourth quarter of 2020.
Web revenue was $1.2 billion, up 74.9 p.c, in comparison with the fourth quarter final 12 months. Earnings per diluted frequent share had been 90 cents, a rise of 20 p.c in contrast with the identical interval final 12 months.
“In a 12 months of unprecedented challenges for our nation and the monetary companies business, I’m extraordinarily happy with our teammates and their fast and sustained response to fulfill the wants of our purchasers and communities,” stated Chairman and Chief Govt Officer Kelly S. King. “Regardless of this troublesome atmosphere, our efficiency was very robust in 2020 and we closed the 12 months on a excessive level with our greatest quarter but when it comes to monetary efficiency.
The pandemic brought about the corporate to take extraordinary measures in 2020 “to help our teammates, purchasers and communities,” King stated.
“This included over $100 million in particular COVID-19 help for teammates; cost reduction help by greater than 750,000 consumer mortgage lodging; $50 million by Truist Cares to help front-line neighborhood wants and $78 million to help traditionally underrepresented communities; and serving to roughly 80,000 corporations safe almost $13 billion in Paycheck Safety Program funding to save lots of almost three million jobs,” he stated. “We strengthened our dedication to social justice, shifting previous phrases to significant and measurable actions. We additionally made nice progress on our integration efforts with a deal with a clean transition for our purchasers. We look ahead to continued progress on these fronts, whereas serving our purchasers and communities and persevering with to face for higher in 2021 and past.”
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