Truist Financial Corporation (NYSE: TFC)
Banks - Regional · Charlotte, NC, United States · Founded 2019
- Market capitalization: $50.0 billion
- Annual revenue: $15.0 billion
- Net income: $3.0 billion
- Employees: 50,000
- Sector: Financial Services
- Headquarters: Charlotte, United States
- Founded: 2019
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Truist Financial Corporation was formed from the 2019 merger of BB&T and SunTrust Banks, creating the seventh-largest US bank by assets. The company provides retail banking, commercial banking, insurance, and wealth management services primarily across the Southeast and Mid-Atlantic. Truist is also one of the largest insurance brokerages in the US through its Truist Insurance Holdings subsidiary.
Truist earns revenue from net interest income on loans and deposits, insurance brokerage commissions, wealth management fees, and investment banking advisory fees. The insurance brokerage business provides fee income diversification unusual among regional banks.
BB&T was founded in 1872 in Wilson, North Carolina, while SunTrust traces its origins to 1891 in Atlanta. The merger of equals closed in 2019, creating a combined institution with over $500 billion in assets. Truist sold its insurance brokerage unit, Truist Insurance Holdings, in 2024 for $12.4 billion to strengthen its capital position.
| Market Capitalization | $50.0B |
| Annual Revenue | $15.0B |
| Net Income | $3.0B |
| Profit Margin | 20% |
| Revenue per Employee | $300000K |
| Stock Exchange | NYSE |
| Ticker Symbol | TFC |
Financial data is approximate and based on most recent annual filings.
The BB&T-SunTrust merger was the largest US bank merger since the 2008 financial crisis. SunTrust famously held the original Coca-Cola stock certificate and served as the company's banker for over a century.
Truist's merger integration has been bumpier than promised, and the sale of the insurance business—while capital-accretive—removed a key differentiator. The bank needs to demonstrate that the combined franchise can deliver the revenue synergies that justified the deal.
What is Truist Financial Corporation's revenue?
Truist Financial Corporation generates approximately $15.0 billion in annual revenue.
How many employees does Truist Financial Corporation have?
Truist Financial Corporation employs approximately 50,000 people worldwide.
What is Truist Financial Corporation's market cap?
Truist Financial Corporation (TFC) has a market capitalization of approximately $50.0 billion on the NYSE.
When was Truist Financial Corporation founded?
Truist Financial Corporation was founded in 2019 and is headquartered in Charlotte, NC, United States.
Who is the CEO of Truist Financial Corporation?
Bill Rogers is the current CEO of Truist Financial Corporation.
What is Truist Financial Corporation's website?
Truist Financial Corporation's official website is truist.com.
| CEO | Bill Rogers |
| Sector | Financial Services |
| Industry | Banks - Regional |
| Founded | 2019 |
| HQ | Charlotte, NC |
| Country | United States |
| Website | truist.com |
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