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Truist continues auto scale back in Q3

Auto outstandings fell 15% YoY

Amanda HarrisbyAmanda Harris
October 19, 2023
in Earnings
Reading Time: 4 mins read
0

Truist’s auto book continued to shrink in the third quarter amid a focus on higher-margin business lines, including the financier’s powersports lending arm, Sheffield Financial.  Indirect auto outstandings fell to $24.1 billion in Q3, a decrease of 6.5% sequentially and 14.7% year over year, according to the bank’s earnings release.   Truist is focused on […]

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Tags: Allowance for credit lossesauto originationsauto outstandingsdelinquenciesPremiumtruist
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