Truist has 10.1% CET1 ratio at end of Q1 with expectations to improve

By Devika Patel

Knoxville, Tenn., April 22 – Truist Financial Corp. reported a CET1 ratio of 10.1% as of March 31 and expects this number to improve from a planned asset sale under current rules and 255 basis points of additional CET1 capital will also be gained under proposed Basel III endgame rules.

“Truist's CET1 ratio remained relatively stable on a linked-quarter basis at 10.1%, as organic capital generation and the impact of lower risk-weighted assets were mostly offset by the impact of the CECL phase-in that occurred during the quarter,” chief financial officer Mike Maguire said on the Charlotte, N.C.-based bank holding company’s first quarter ended March 31 earnings conference call on Monday.

“We still anticipate the sale of TIH will generate approximately 230 basis points of CET1 under current rules and 255 basis points of CET1 capital under proposed Basel III endgame rules,” he said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.