Truist Financial reported second-quarter earnings of $1.23 per diluted share on Friday, up 37% from a year ago, beating analyst expectations of $1.08 per share, according to Barron’s.
Net income available to common shareholders was $1.5 billion for the quarter
Total revenue on a tax-equivalent basis reached $5.31 billion, a 5.5% increase from the prior year, with gains in investment banking, trading, and wealth management driving the improvement, the company said. Noninterest income climbed 17% from the second quarter of 2025 to $1.64 billion, while tax-equivalent net interest income grew to $3.67 billion, up 0.9% from a year earlier. Net interest margin on a tax-equivalent basis was 2.98%, down four basis points year over year.
Noninterest expense totaled $3.06 billion, up 2.3% from a year ago, reflecting higher personnel costs, partly offset by lower professional fees and outside processing expense, the company said. The provision for credit losses fell to $395 million from $488 million in the second quarter of 2025. The net charge-off ratio was 0.50%, roughly in line with 0.51% a year earlier.