(Reuters) – Truist Financial reported a fall in the first quarter profit on Thursday due to a weakness in its banking and trading unit investment in the center of US President Trump's President's whiplash trade policies.
The changing expectations of world -wide tariffs have driven market turbulence and sudden decline, encouraging chief executives to adopt a careful stance and delay deals and IPOS, hurting investment banking income and troubled trading.
Its banking and investment trading income fell 15.5% to $ 273 million against a year ago.
The reduction was due to a merger and lower acquisition fees and trading income, the company said in a statement.
Meanwhile, his net interest income, or the difference between what a bank earns on loans, rose and pays out on deposits, rose 3.8% to $ 3.56 billion in the quarter, compared to the previous year.
A modified profit river from 87 cents reported the share in the quarter reported, compared to 91 cents per share in the same quarter last year. Proceeds were in line with the average expectation of analysts of 87 cents per share, according to data compiled by LSEG.
Truober shares have fallen by 17% in 2025, at last, lagging behind a 15% decrease in the KBW regional banking index.
(Reported by Jaiver Shekhawat and Ateev Bhandari in Bengaluru; edited by Pooja Desai)