Thread regarding Truist Bank layoffs

Why are clients leaving in droves?

Some think it's because of the merger, while others claim that it's for other reasons.

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| 24304 views | | 4 replies (last January 29, 2022) | Reply
Post ID: @OP+1f0VCryn

4 replies (most recent on top)

OP can’t provide legitimate data to show that clients are “leaving in droves” because this post is speculative and is baseless.

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Post ID: @2ogt+1f0VCryn

Does anyone here actually read the quarterlies? The bank is doing fine - more than fine, actually, Customers are leaving, no doubt, but not at a materially higher clip than the two separate banks lost in any given year ( nor higher than industry averages). Also, new customers are coming in. Deposits are up, lending activity is up, overall earnings - you guessed it - up.

This is not an opinion, nor do I personally want it to be true or not true, it just is what it is and it's in the publicly available earnings reports.

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Post ID: @1gbr+1f0VCryn

Losing customers after a merger is standard. Depending on how the merger/acquisition is handled determines how bad the losses are. After First Virginia, it was pretty bad. Why would this big mess be any different?

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Post ID: @1yyo+1f0VCryn

Link to a reputable source that shows clients are leaving?

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Post ID: @1pwj+1f0VCryn

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