Bad management at SunTruist is being exposed more everyday. NII will continue to drop over the next year continuing the erosion in stock price. Selling part of a cash cow to help prop up reserves, if Democrats weren’t in control now this bank would be ripe for a takeover.
The largest US banks, and major regional lenders, can often borrow more in bond markets globally when they lose deposits. The biggest banks probably won’t need to change their bond issuance plans, but bigger regional banks, like USBancorp and Truist Financial Corp., may need to borrow more in bond markets, according to BI. Kakuda estimates they may have to sell as much as $10 billion to $15 billion for each of the next few years
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In case you were wondering why the sale of insurance:
The transaction increases Truist's Common Equity Tier 1 ratio by approximately 30 basis points. Truist also continues to expect the transaction to be relatively neutral to earnings per share.
So by the closing bell TFC "only" hemorrhaged 17% instead of 20%. Is this all panic over SIVB?
So Suntrust bought the fintech loan operation in 2013 and rebranded it as Lightstream. Anyone have any idea how it does financially?
Light Scream is the next shoe to drop. Nothing says we are the smartest guys in the room like spending a ton of money to buy a consumer based lending company run by a traditional bank that wasn’t that good at running a traditional bank.
Post from TheLayoff.com
It's a giant Ponzi scheme.
Truist is trying to be a big bank by being two outdated regional banks in a trenchcoat but we're not fooling anybody.
Narrator: The global financial system is already bankrupt.
Okay but the Republicans threatening to let the US default on our debt and take down the whole global financial system to "own the libs".
I guess it's too much to ask to have grown adults running things in DC or in Charlotte.
Drop Truist like a used rubber!
But . . . but . . . how can this be?? I was told that everything was going great!