I haven't seen any change since the new CEO came on board... This place is a sinking ship and now I don't hold any hope now. In my view a takeover is inevitable.
What is your thoughtful guess of whick bank will take over Truist?
Actually I think citi makes a lot of sense.
@gh If US Bank management is that bad, why is US Bank stock still performing better than TFC?
Better hope it’s not US Bank. Things will go from bad to worse if so. Folks on here are always complaining about the mediocre talent that came over from Wells to Truist, but those folks look like rock stars compared to some of the US Bank Minnesotans at the helm there. Train wreck is an understatement.
There isn’t anything online about the PNC deal bc it was never public, just Demchak making private overtures.
The bank rep and failed merger should scare away any potential acquirer.
@br Interesting…I wasn’t aware of a prior PNC attempted acquisition (and can’t find anything online). Can you share any background?
The PNC deal was rejected before but might be back on now. Since it would make a trillion dollar bank, they have two years to get it done.
My money is on US Bank. It makes the most sense from a footprint stance.
There is a reason Truist keeps selling off portions of the bank. Temporary boost revenue to pay shareholders, executive management bonuses and to get rid of overlap with an acquiring bank. Any acquiring bank is going to want the deposits and large corporate accounts. This new CEO is only here to facilitate the sale and get a big payout. This is why we aren’t seeing any positive change nor will we.
All of the bigs except Citi are over or too close to the national deposit cap, and Citi is struggling with their technology integration. I think it will likely be another regional. My money’s on PNC, with US Bank a close second. Any ideas on the over-under for how long before it happens?
US Bank makes the most sense from a business line and geographic perspective. Citi and Morgan Stanley make sense for a number of reasons as well.
Whether it happens comes down to whether years of missed of missed technology spend can be overcome in a profitable way. I tend to think not because while some of the tech costs are coming down, the competition is getting better. In the end, the franchise may just need to be hollowed out and rebuilt with the acquiring firms tech.
Too early to tell. If more assets are sold off, there may not be anything to take over.
An org and name built on Lies will be hard to sell.