other material
confidence high
sentiment positive
materiality 0.85
Truist completes sale of TIH for ~$10.1B in cash, executes $27.7B securities repositioning
TRUIST FINANCIAL CORP
- Sale closed: after-tax cash proceeds ~$10.1B; after-tax gain ~$4.7B; CET1 ratio increased 230 bps to 12.4% pro-forma.
- Sold $27.7B lower-yielding AFS securities; after-tax loss $5.1B in Q2 2024; reinvested ~$18.7B at 5.27% yield.
- Repositioning reduces pro-forma CET1 by 107 bps to 11.4%; no impact to tangible book value per share of $28.80.
- NII estimate raised: Q2 2024 +$160M, FY 2024 +$710M; revenue outlook improved: Q2 rev +1% QoQ, FY rev -0.5% to -1.5%.