Truist Financial now expects full-year 2026 revenue to increase 3.5% to 4%, down from its prior outlook of 4% growth, while targeting approximately $5 billion of share buybacks and a return on tangible common equity above 14%. CFO Michael Maguire said net interest income growth is now seen at 1% to 1.5%, reduced from the previous 2% to 3%, citing portfolio exits, spread compression, and a less favorable deposit mix. The bank discontinued marine and recreational vehicle lending and sharply cut originations in other consumer units, moves expected to reduce 2026 loan production in those portfolios by about 40% from 2025 levels. Noninterest income growth was raised to roughly 10%, helped by a 72% jump in investment banking and trading revenue. The company also announced that Mike Lyons will become CEO on September 1, with current CEO William Rogers transitioning to executive chair until his planned retirement next April.
Truist Financial CorpTruist lowered 2026 revenue growth outlook to 3.5%-4% from 4%, and NII growth to 1%-1.5% from 2%-3%, citing portfolio exits and spread compression.