2020 Annual Report
To inspire and build better lives and communities
Standing for better
Truist financial corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities.
Regional businesses
- Commercial banking
- Premier banking
- Retail banking
- Small business
- Treasury solutions
- Wealth
National businesses
- Commercial real estate
- Corporate and investment banking
- Dealer finance
- Mortgage
- National consumer finance and payments
- Retail and wholesale insurance
6th largest
commercial bank
$509B
in assets
15.8MM
clients
Purpose
To inspire and build better lives and communities
Mission
For clients
Provide distinctive, secure, and successful client experiences through touch and technology.
For teammates
Create an inclusive and energizing environment that empowers teammates to learn, grow, and have meaningful careers.
For stakeholders
Optimize long-term value for stakeholders through safe, sound, and ethical practices.
Values
Trustworthy
We serve with integrity.
Caring
Everyone and every moment matters.
One Team
Together, we can accomplish anything.
Success
When our clients win, we all win.
Happiness
Positive energy changes lives.
Our financial performance
In our first year as Truist, we reported strong results driven by robust fee income growth, stable net interest income, disciplined expense management, and solid asset quality. Importantly, our diverse and complementary businesses carried that momentum into 2021.
Protecting lives and communities
Supporting our clients, communities, and teammates in response to the pandemic was a priority in 2020.
$750,000+
retail and wholesale clients aided through payment relief programs, including forbearance, deferrals, extensions, and reaging of loans
$11MM
in waived ATM fees and refunded surcharges to retail and small business debit clients
$49.1B
in commercial and consumer loans with accommodations
100,000+
families helped with monthly mortgage relief
$13.4MM
in statement credits given to credit card holders for grocery and pharmacy purchases
Advancing diversity
Our supplier diversity effort aims to ensure that our suppliers reflect who we are as a community and company while enhancing our client experience, strengthening our operations, and enriching our communities.
One team helping clients succeed
Across Truist, teammates are working together to deliver on the promise of our historic merger of equals: a main street bank, deeply embedded in our communities, offering a complete range of financial services to individuals and businesses. We’re also investing in innovation and technology to meet our clients’ expectations wherever and whenever they want to do business.
Truist Leadership Institute
The pandemic changed life at institutions of higher learning—and Truist Leadership Institute quickly adapted to maintain connections to student leaders.
Corporate social responsibility
At Truist, financial services are just the beginning. We believe that a company’s longevity and long-term profitability are bound to its purpose, the benefits it brings to the communities in which it operates and its contributions to society overall.
General information
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