Truist Financial Corporation · NYSE:TFC
Truist Financial — Q3 2025 Earnings Presentation
26 slides from Truist Financial's earnings presentation, Oct 17, 2025
Slide 1: Third Quarter Earnings 2025 Conference Call
Fourth Quarter 2024 Third Quarter Earnings 2025 Conference Call Earnings Conference Call Bill Rogers – Chairman & CEO Bill Rogers - Chairman Mike Maguire – CFO& CEO Mike Maguire - CFO October 17, 2025 October 17, 2025
Slide 2: Forward-looking statements
Forward-looking statements From time to time we have made, and in the future will make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current fact
Slide 3: Non-GAAP financial information
Non-GAAP financial information This presentation contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Truist’s management uses these “non-GAAP” measures in their
Slide 4: Purpose, mission and values
Purpose Inspire and build better lives and communities Mission Clients Teammates Stakeholders Provide distinctive, secure, Create an inclusive and Optimize long-term value for and successful client energizing environment that stakeholders through safe, experiences through touch empowers teammates to
Slide 5: 3Q25 key takeaways
3Q25 key takeaways Reported strong 3Q25 results By the numbers – Broad-based wholesale and consumer loan growth $1.3 billion Net income available to common shareholders – Strong fee income growth driven by investment banking and trading and wealth management income $1.04 – Disciplined expense manage
Slide 6: Business segment update
Business segment update Top business growth & profitability initiatives Consumer & Small Business Banking Consumer and Small Business Banking – Premier banking strategy: Continued to advance our Premier banking strategy Grow deposits with a focus on Premier with deposit and lending per banker up 20%
Slide 7: Performance highlights
Performance highlights $ in millions, except per share data Revenue GAAP / Unadjusted 3Q25 2Q25 3Q24 – Revenue increased 4.0% vs. 2Q25 primarily driven Revenue $5,238 $5,035 $5,140 by higher fee income across several key Expense $3,014 $2,986 $2,927 categories, including investment banking & trading
Slide 8: Average loans and leases HFI
Average loans and leases HFI Average loans up 2.5% linked quarter driven by broad-based growth in wholesale and consumer 5-quarter trend Loan portfolio composition ($ in billions) 2% 10% Credit card Other consumer $321 $320 $313 $303 $303 $306 $126 $129 8% $120 $121 $123 Indirect auto 3% Home equity
Slide 9: Average deposits
Average deposits Average deposits decreased 1.0% linked quarter 5-quarter trend Deposit mix ($ in billions) – Linked-quarter decline in average deposits was driven by the withdrawal of two short-term, M&A-related client deposits in mid-July 27% 34% DDA Money market and savings – These deposits impac
Slide 10: Net interest income and net interest margin
Net interest income and net interest margin ~ 5-quarter net interest income and net interest margin trend Fixed rate asset repricing summary ($ in millions) ($ in billions) – Net interest income increased 1.2% linked-quarter due to an $139 – Expect to reprice approximately $11 billion additional day
Slide 11: Noninterest income
Noninterest income Strong performance in investment banking and trading and wealth management income led to an 11% increase in fees Current trend Vs. linked quarter ($ in millions) – GAAP and adjusted noninterest income increased 11% and 9.9%, respectively, primarily driven by: $1,558 – Strong perfo
Slide 12: Noninterest expense
Noninterest expense Expenses reflect ongoing discipline and continued investments Current trend Vs. linked quarter ($ in millions) – GAAP and adjusted noninterest expense increased 0.9% and 1.0%, respectively, primarily driven by: – Higher personnel expense due to higher incentives and $2,927 $2,986
Slide 13: Asset quality
Asset quality Solid asset quality metrics reflect ongoing credit discipline Net charge-offs Provision for credit losses ($ in millions) ($ in millions) $453 $454 $418 $396 $385 $488 $448 $471 $458 $436 0.55% 0.59% 0.60% 0.51% 0.48% 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25 2Q25 3Q25 NCO NCO ratio Nonp
Slide 14: 4Q25 and 2025 outlook
4Q25 and 2025 outlook Full year 2025 revenue and expense outlook unchanged; NCO outlook improved 3Q25 actuals 4Q25 outlook 13.9% (compared to 3Q25) Adjusted revenue (TE): $5.2 billion Up 1% to 2% Adjusted expenses: $3.0 billion Stable Share repurchases: $500 million $750 million Full year 2024 actua
Slide 15: Expect momentum to accelerate in 2026
Expect momentum to accelerate in 2026 Revenue growth, operating leverage, share repurchases, and EPS growth expected to increase Adjusted revenue growth Adjusted operating leverage Share repurchases Adjusted EPS growth ~100 ~$2.5B bps ~2.0% ~6-8% $1B 3% 30 bps (0.5)% 2024A 2025E 2026E 2024A 2025E 20
Slide 16: Targeting a 15% ROTCE in 2027
Targeting a 15% ROTCE in 2027 ROTCE outlook Key drivers Execute top business growth and profitability initiatives ~15% Drive positive operating leverage ~14% Continue to benefit from fixed rate asset ~13% repricing 12-13% Increase buybacks; targeting 10% CET1 ratio by 12/31/2027 Stable economic and
Slide 17: Appendix
Appendix
Slide 18: Consumer and Small Business Banking
Consumer and Small Business Banking Represents Branch Banking, Digital Banking, Premier Banking, Small Business Banking, and National Consumer Lending Metrics Commentary – Net income of $663 million, compared to $601 million in the prior quarter Income statement ($ MM) 3Q25 vs. 2Q25 vs. 3Q24 – Net i
Slide 19: Wholesale Banking
Wholesale Banking Represents Commercial & Corporate Banking, Investment Banking & Capital Markets, CRE, Wholesale Payments, and Wealth Metrics Commentary – Net income of $1.2 billion, compared to $933 million in the prior quarter Income statement ($ MM) 3Q25 vs. 2Q25 vs. 3Q24 – Net interest income o
Slide 20: Preferred dividend
Preferred dividend 4Q25 1Q26 2Q26 3Q26 Estimated dividends based on projected interest rates $59 $104 $76 $104 and amounts outstanding ($ MM) Estimates assume forward-looking interest rates as of 9/30/25. Actual interest rates could vary significantly causing dividend payments to differ from the est
Slide 21: Non-GAAP reconciliations: adjusted net income and diluted EPS
Non-GAAP reconciliations Adjusted net income and diluted EPS $ in millions, except per share data, shares in thousands Quarter Ended Year-to-Date Sept. 30 June 30 March 31 Dec. 31 Sept. 30 Sept. 30 Sept. 30 Dec. 31 Dec. 31 2025 2025 2025 2024 2024 2025 2024 2024 2023 Net Income (loss) available to c
Slide 22: Non-GAAP reconciliations: CET1 capital ratios
Non-GAAP reconciliations Calculations of common equity tier 1 capital ratios $ in millions Quarter Ended Sept. 30 June 30 Sept. 30 2025 2025 2024 Risk-based capital: (preliminary) Common equity tier 1 $ 48,031 $ 47,678 $ 48,076 Accumulated Other Comprehensive Income (AOCI) related adjustments (6,246
Slide 23: Non-GAAP reconciliations: efficiency and fee income ratio
Non-GAAP reconciliations Efficiency ratio and fee income ratio from continuing operations $ in millions Quarter Ended Year-to-Date Sept. 30 June 30 March 31 Dec. 31 Sept. 30 Sept. 30 Sept. 30 2025 2025 2025 2024 2024 2025 2024 Efficiency ratio numerator - noninterest expense - unadjusted $ 3,014 $ 2
Slide 24: Non-GAAP Reconciliations: operating leverage
Non-GAAP Reconciliations Operating leverage(1) $ in millions Year-to-Date Dec. 31 Dec. 31 2024 2023 Revenue(2) - GAAP $ 13,278 $ 20,022 Taxable equivalent adjustment 212 220 Securities (gains) losses 6,651 — Revenue(2) - adjusted $ 20,141 $ 20,242 Noninterest expense - GAAP $ 12,009 $ 18,678 Restruc
Slide 25: Non-GAAP reconciliations: pre-provision net revenue
Non-GAAP reconciliations Pre-provision net revenue $ in millions Quarter Ended Year-to-Date Sept. 30 June 30 March 31 Dec. 31 Sept. 30 Sept. 30 Sept. 30 2025 2025 2025 2024 2024 2025 2024 Net income from continuing operations $ 1,452 $ 1,240 $ 1,261 $ 1,289 $ 1,439 $ 3,953 $ (1,334) Provision for cr
Slide 26: Calculations of tangible common equity and related measures
Non-GAAP reconciliations Calculations of tangible common equity and related measures $ in millions, except per share data, shares in thousands As of / Quarter Ended Year-to-Date Sept. 30 June 30 March 31 Dec. 31 Sept. 30 Sept. 30 Sept. 30 2025 2025 2025 2024 2024 2025 2024 Common shareholders’ equit