Truist beats quarterly profit estimates on investment banking gains

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Truist beats quarterly profit estimates on investment banking gains

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Truist beats quarterly profit estimates on investment banking gains

_{//business-finance.news-articles.net/content/202 .. rofit-estimates-on-investment-banking-gains.html}
^{Published in Business and Finance on Friday, January 17th 2025 at 8:40 GMT by Reuters}

Truist Financial on Friday exceeded Wall Street estimates for fourth-quarter profit, helped by stronger investment banking and trading activity as capital markets strengthened.

Truist Financial Corp reported a better-than-expected quarterly profit on January 17, 2025, driven by gains in its investment banking sector. The bank's adjusted earnings per share were $0.81, surpassing the analysts' average estimate of $0.78 per share. This performance was bolstered by a significant increase in investment banking fees, which rose by 15% due to heightened deal-making activities. Despite this, Truist faced challenges such as a slight decrease in net interest income due to higher deposit costs and a competitive lending environment. Additionally, the bank set aside $190 million for potential loan losses, reflecting cautious optimism about economic conditions. Overall, Truist's strategic focus on enhancing its investment banking capabilities paid off, helping to offset pressures from other areas of its operations.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/truist-beats-quarterly-profit-estimates-investment-banking-gains-2025-01-17/ ]

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