During this morning's call, they will discuss Truist's Fourth Quarter and 2025 results, share their perspectives on current business conditions, and provide an updated outlook for 2026. The accompanying presentation, as well as our earnings release and supplemental financial information, are available on the Truist Investor Relations website, ir.truist.com. Despite market volatility early in 2025, we stayed focused on supporting our clients and executing our growth and profitability agenda. This discipline drove higher earnings, stronger client relationships, and attracted new business.
These investments underscore our commitment to the communities we serve and position us to deliver more personalized advice and create opportunities for outsized growth. As we enter 2026, our purpose continues to guide our focus on growth, profitability, and deeper client relationships. We delivered net income available to common shareholders of $1.3 billion, or $1 per diluted share for the fourth quarter, and $5 billion, or $0.0382 per diluted share for the full year 2025. First, we continue to generate strong, broad-based loan growth in both Wholesale Banking and Consumer and Small Business Banking, driven by new loan production and increased client acquisition.
Second, strong loan growth, better second-half results in investment banking, trading, and wealth, along with continued expense discipline, drove 100 basis points of positive adjusted operating leverage in 2025. Third, we made significant investments across our business in talent and technology, laying the foundation for future growth, which we expect to accelerate in 2026. Finally, we returned $5.2 billion of capital to shareholders through our common stock dividend and the repurchase of 2.5 billion of our common stock. Our total capital return in 2025 reflects a 37% increase over 2024.
| Metric | Period | Current guidance |
|---|---|---|
| Average loan growth | 2026 | 3%-4% (in line) |
| Net interest income growth | Full year 2026 | 3%-4% (n/a) |
| Net interest margin | Full year 2026 average | exceed 2025 average; exit 2026 in three-teens area (up) |
| Share repurchases | 2026 | $4 billion (a 60% increase) (up) |
| Revenue growth | 2026 | at least twice the pace of 2025 (up) |
| Fed funds rate cuts | 2026 | two 25 basis point reductions, one in April and one in July (n/a) |
| Average investment securities and other earning assets | 2026 | decline 4%-5% annually (down) |
| Efficiency ratio | Next couple of years | mid-50s area (improving) |
| ROTCE | 2027 / 2026 | 15% in 2027, 14% in 2026 (up) |
| GAAP expense growth | 2026 | 1.25%-2.25% (closer to 2.3%-3.3% ex-legal) (n/a) |
| Metric | YoY | Note |
|---|---|---|
| Revenue | up 1.1% linked quarter | 1.9% growth in net interest income partially offset by a modest decrease in non-interest income |
| Taxable equivalent net interest income | up 1.9% linked quarter ($69 million) | loan and client deposit growth and fixed-rate asset repricing |
| Investment banking and trading | up 3.7% linked quarter to $335 million | stronger M&A-related fees partially offset by lower trading activity |
| Card and treasury management fees | up 3.7% year-over-year | double-digit growth in treasury management fees partially offset by lower merchant and corporate credit card fees |
| Average consumer and small business loans | up 5% in 2025 | market-leading consumer lending businesses including Indirect Auto, Sheffield, Service Finance, and LightStream |
| Total capital return | up 37% versus 2024 | dividends and $2.5 billion of share repurchases |
| Topic | Previous mention | Current period | Trend |
|---|---|---|---|
| Capital return | $750 million quarterly buyback floor | targeting $4 billion in 2026, a 60% increase; new $10 billion authorization | Accelerating |
| Deposit beta and costs | 38% cumulative interest-bearing beta | improved to 45%; expected low 50s by year-end 2026 | Improving |
| Net interest margin | 3.01% prior quarter | 3.07%, expecting to exit 2026 in the three-teens area | Improving |
| Loan mix | consumer-led growth in 2025 | 2026 growth primarily commercial-driven, rebalancing away from lower-value indirect auto | Shifting |
| Expense reporting | adjusted expense with restructuring charges broken out | moving to GAAP expense reporting going forward | Changing |
| Branch strategy | six years of effectively no net new branches | opening 100 new insight-driven branches in high-growth markets plus 300+ renovations | Investing |