Truist Financial Corporation is one of the largest commercial banks in the United States, formed by the historic 2019 merger of equals between BB&T Corporation and SunTrust Banks. Operating through its primary subsidiary, Truist Bank, the company serves millions of consumer households and business clients across the Southeastern and Mid-Atlantic regions. Truist's business model is divided into two primary segments: Consumer and Small Business Banking (CSBB) and Wholesale Banking. The CSBB segment offers retail deposit products, credit cards, home equity and mortgage lending, and small business lending. The Wholesale Banking segment provides corporate and investment banking, commercial real estate lending, asset-based lending, and wealth management services. Truist generates revenue primarily through net interest income from its extensive loan portfolio and non-interest income from wealth management, investment banking, and card fees. In 2024, Truist completed the $15.5 billion sale of its remaining stake in Truist Insurance Holdings to strategically reposition its balance sheet and focus on its core banking operations. The bank differentiates itself through its purpose-driven approach, blending digital banking capabilities with a strong regional branch network.
