Truist’s net profit surged 37% in the second quarter, and investment banking revenue soared 72%
Truist Financial Corp recently announced its financial report for the second quarter of 2026. Data showed that the company's net profit increased significantly by 37% year-on-year. The financial report showed that Truist’s second-quarter net profit reached US$1.52 billion, or US$1.23 per share, significantly higher than the US$0.90 in the same period last year, and also exceeded Wall Street expectations of US$1.08. Total revenue for the quarter was US$5.27 billion, a year-on-year increase of approximately 5.6%. From the perspective of income structure, non-interest income became the biggest highlight of this quarter, increasing 17% year-on-year to US$1.64 billion. Among them, investment banking and trading income soared nearly 72% year-on-year, and wealth management income increased by about 8%. In contrast, net interest income increased slightly to $3.62 billion, but the net interest margin narrowed 4 basis points to 2.98%, reflecting the continued market-driven compression of loan spreads. In terms of asset quality, the company's provision for credit losses fell to US$395 million, down from US$488 million in the same period last year. Return on tangible common equity increased to 15.4%, an improvement of 310 basis points compared with the same period last year. The company returned $1.2 billion in capital to shareholders through repurchases and dividends during the quarter, and its common equity Tier 1 capital adequacy ratio was 10.9%. However, management lowered its full-year net interest income growth guidance to 1%-1.5% from the previous 2%-3%, reflecting loan portfolio adjustments and spread pressure. Truist Chairman and CEO Bill Rogers said at the performance briefing that the company is moving in a more profitable and capital efficient direction to drive growth by deepening customer relationships, expanding into attractive markets and improving operational efficiency. Current CEO Bill Rogers will step down in September and will be replaced by Michael Lyons from Fiserv.