Truist Q4 2020 Earnings Report
Key Takeaways
Truist Financial Corporation reported strong Q4 2020 results with a record adjusted net income of $1.6 billion, or $1.18 per share. The performance was driven by a significant decline in the provision for credit losses and strong results from noninterest-income generating businesses. The adjusted efficiency ratio improved to 55.9 percent and the adjusted return on tangible common equity was very strong at 19.03 percent.
Earnings per diluted common share were $0.90
Adjusted diluted earnings per share were $1.18, up $0.21 per share compared to third quarter 2020
ROA was 1.05 percent; adjusted ROA was 1.35 percent
ROTCE was 14.99 percent; adjusted ROTCE was 19.03 percent
Truist
Truist
Forward Guidance
Truist's Board of Directors authorized the repurchase of up to $2 billion of the company’s common stock beginning in the first quarter of 2021, as well as certain other actions to optimize Truist’s capital position. Management’s intention is to maintain an approximate 10 percent Common Equity Tier 1 ratio after considering strategic actions such as non-bank acquisitions or stock repurchases, as well as changes in risk-weighted assets.