Strong Revenue Growth Driven by Capital Markets and Noninterest Income
Total taxable-equivalent revenue rose 5.5% YoY to $5.31B in Q2 FY2026. Noninterest income surged 17.4% YoY to $1.64B, powered by a 71.7% surge in investment banking and trading income ($352M vs. $205M) and a 7.8% increase in wealth management income ($375M vs. $348M).
Segment Performance Breakdown
Consumer and Small Business Banking (CSBB) net income grew 45.5% YoY to $835M due to expanding deposit spreads and lower credit loss provisions. Wholesale Banking (WB) net income rose 11.5% YoY to $960M, driven by higher investment banking and trading revenues.
Executive Leadership Succession Plan
On June 15, 2026, Truist announced that Michael P. Lyons will become President and CEO effective September 1, 2026, while William H. Rogers, Jr. will step down as CEO and transition to Executive Chair of the Board through the 2027 annual meeting.