Truist Financial Sells $5.5B Auto Loan Portfolio, Reaffirms Outlook
MarketBeat
Truist Financial announced the sale of its $5.5 billion near-prime auto loan portfolio and the exit of its Regional Acceptance Corporation business. This move is expected to modestly improve earnings, tangible book value, and credit metrics, while also generating approximately $950 million in capital. The bank reaffirmed its financial outlook for Q3 and the full year, including its $5 billion share repurchase plan, as new CEO Mike Lyons accelerates a broader portfolio and capital-allocation revi
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