Q1 2025 Truist Financial Corp Earnings Call Transcript
Key Points
- Truist Financial Corp (TFC) reported net income available to common shareholders of $1.2 billion or $0.87 per share for the first quarter of 2025.
- The company experienced positive loan and deposit growth momentum, with average loans and deposits increasing late in the quarter.
- Truist Financial Corp (TFC) is maintaining strong expense discipline, achieving a 130 basis point improvement in their efficiency ratio on a linked quarter basis.
- The company is investing in digital capabilities, with 195,000 new digital accounts opened in the first quarter, reflecting a 13% increase over the previous year.
- Truist Financial Corp (TFC) has a strong capital position, allowing for continued share repurchases and dividend payments, with $500 million of share repurchases completed in the first quarter and plans for an additional $750 million in the second quarter.
- Truist Financial Corp (TFC) has reduced its revenue outlook due to market volatility and economic uncertainty, with expectations for flat year-over-year investment banking and trading revenue.
- The company reported a 3.2% decrease in total revenue linked quarter, with declines in both net interest income and non-interest income.
- Non-interest income decreased by 5.3% versus the fourth quarter, primarily due to a decline in other income related to certain equity investments.
- Truist Financial Corp (TFC) has adjusted its net interest income outlook, now expecting a 3% increase in 2025 versus 2024, impacted by lower medium-term interest rates.
- The company faces challenges in investment banking and capital markets, with lower overall M&A and equity capital markets activity resulting in less than expected growth.
Greetings, ladies and gentlemen, and welcome to the Truist Financial Corporation first-quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this event is being recorded.
It is now my pleasure to introduce your host, Mr. Brad Milsaps.
Thank you, Betsy, and good morning, everyone. Welcome to Truist's first quarter 2025 earnings call. With us today are our Chairman and CEO, Bill Rogers; our CFO, Mike Maguire; our Chief Risk Officer, Brad Bender, as well as other members of Truist's senior management team.
During this morning's call, they will discuss Truist's first quarter results, share their perspectives on current business conditions and provided an updated outlook for 2025. The accompanying presentation as well as earnings release and supplemental financial information are available on the Truist Investor Relations website, ir.truist.com.
Our presentation today will include forward-looking statements and certain non-GAAP financial measures.
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