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Jun 30, 2020
Truist Q2 2020 Earnings Report
Truist's second quarter performance in 2020 was marked by earnings of $902 million, driven by growth in earning assets, a strong performance from investment banking, a record quarter from insurance brokerage, and great results from residential mortgage banking, while also providing $844 million for credit losses due to economic uncertainty.
Key Takeaways
Truist Financial Corporation reported net income available to common shareholders of $902 million for the second quarter of 2020, an increase of 7.1% compared to the same period last year. Earnings per diluted common share were $0.67, a decrease of 38.5% compared to the previous year. Adjusted net income was $1.1 billion, or $0.82 per diluted share.
Earnings per diluted common share were $0.67; adjusted diluted earnings per share were $0.82.
ROA was 0.75 percent; adjusted ROA was 0.91 percent.
ROCE was 5.90 percent; adjusted ROCE was 7.26 percent.
ROTCE was 11.83 percent; adjusted ROTCE was 14.17 percent.