CHARLOTTE, N.C., June 30,
2023 /PRNewswire/ -- Truist Financial Corporation
(NYSE: TFC) today announced the Federal Reserve Board has
determined the Company's preliminary stress capital buffer ("SCB")
requirement is 2.9%. The Federal Reserve Board will provide the
Company's final SCB requirement on or before Aug. 31, 2023. Once finalized, the new SCB
requirement will be in effect from Oct. 1,
2023 to Sept. 30, 2024.
Truist also announced plans to maintain its current quarterly
common stock dividend of $0.52 per
share, subject to approval by its board of directors.
"Truist's 2023 annual stress test results again demonstrate the
benefits of our diverse business mix and prudent and disciplined
risk management culture," said Truist Chairman and Chief Executive
Officer Bill Rogers. "Our strong
liquidity and capital positions, bolstered by the approximately 30
basis point increase to our CET1 ratio from the minority stake sale
of Truist Insurance Holdings that was completed after the start of
the 2023 annual stress test exercise, provide us significant
capacity to serve our clients and stakeholders, maintain a strong
dividend for our shareholders, and ultimately help us deliver on
our purpose to inspire and build better lives and communities."
About Truist
Truist Financial Corporation is a
purpose-driven financial services company committed to inspiring
and building better lives and communities. Truist has leading
market share in many high-growth markets in the country, and offers
a wide range of products and services through our retail, small
business and commercial banking; asset management; capital markets;
commercial real estate; corporate and institutional banking;
insurance; mortgage; payments; specialized lending; and wealth
management. Headquartered in Charlotte,
North Carolina, Truist is a top 10 U.S. commercial bank with
total assets of $574 billion as of
March 31, 2023. Truist Bank, Member
FDIC. Learn more at Truist.com.
Forward-Looking Statements
This communication contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
regarding the financial condition, results of operations, business
plans and future performance of Truist, including under
hypothetical regulatory stress testing scenarios. Words such as
"anticipates," "believes," "estimates," "expects," "forecasts,"
"intends," "plans," "projects," "could," "may," "should," "will" or
other similar words or expressions are intended to identify these
forward-looking statements. These forward-looking statements are
based on Truist's current expectations and assumptions regarding
Truist's businesses, the economy, and other future conditions or
reflect theoretical performance under prescribed hypothetical
scenarios and the regulatory stress testing rules. Because
forward-looking statements relate to future results and
occurrences, they are subject to inherent uncertainties, risks, and
changes in circumstances that are difficult to predict. Many
possible events or factors could affect Truist's future financial
results and performance and could cause actual results or
performance to differ materially from anticipated results or
performance. Except to the extent required by applicable law or
regulation, Truist disclaims any obligation to update such factors
or to publicly announce the results of any revisions to any of the
forward-looking statements included herein to reflect future events
or developments. Further information regarding Truist and factors
which could affect the forward-looking statements contained herein
can be found in Truist's Annual Report on Form 10-K for the fiscal
year ended December 31, 2022, as
updated by its Quarterly Reports on Form 10-Q, and its other
filings with the Securities and Exchange Commission.
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SOURCE Truist Financial Corporation