Truist Financial Guides for 2Q Net Interest Income to Be Relatively Flat on Linked-Quarter Basis
By Allison Prang
Truist Financial Corp.'s chief financial officer said the
regional lender is expecting its second-quarter net interest margin
to fall in the high single digits on a linked-quarter basis.
The company also is expecting taxable equivalent revenue -- not
including security gains -- to be relatively flat, CFO Daryl Bible
told analysts on the company's earnings call. He also said the
company is guiding net interest income to be relatively flat and
said the company expects the same for noninterest expense adjusted
for merger expenses and amortization.
Mr. Bible said Truist is expecting its tax rate to be between
19% and 20% and for net charge-offs to be between 30 basis points
and 45 basis points.
"As you look out into 2021, our proven economic conditions may
allow for further reserve releases," Mr. Bible said on the
Write to Allison Prang at email@example.com
(END) Dow Jones Newswires
April 15, 2021 10:04 ET (14:04 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.