2020 Annual Report

To inspire and build better lives and communities

In a year filled with challenges for our clients, communities, and teammates, Truist demonstrated strong leadership and decisive action in 2020.

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
Small illustrated icon representing a bank or financial institution

6th largest

commercial bank

Small illustrated icon representing a wallet and cash

$509B

in assets

Small illustrated icon representing a document or spreadsheet

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

Download

Get a PDF of the report.