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Home » Truist’s auto book grows 5.7% YoY

Truist’s auto book grows 5.7% YoY

The bank expects auto loan production to slow in 2023

Amanda HarrisbyAmanda Harris
September 18, 2024
in Earnings
Reading Time: 3 mins read
0
Signage inside a Truist Financial Corp. bank branch in Lexington, Kentucky, U.S., on Sunday, Jan. 16, 2022. Truist Financial reported adjusted earnings per share for the fourth quarter that beat the average analyst estimate. Photographer: Luke Sharrett/Bloomberg

Photographer: Luke Sharrett/Bloomberg

Truist’s auto book grew on a year-over-year basis in the fourth quarter, but the bank expects auto production to slow in 2023.  Auto outstandings clocked in at $28 billion, a decline of 1% sequentially but up 5.7% YoY, according to the bank’s earnings release.   “Going forward, loan growth will moderate from the robust levels […]

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