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Truist Bank (formerly BB&T, Branch Banking and Trust Company, founded 1872 in Wilson, North Carolina) is the banking subsidiary of Truist Financial Corporation (NYSE: TFC), a top-10 U.S. commercial bank headquartered at 214 N Tryon St., Charlotte, NC. The bank was formed in December 2019 through the merger of equals between BB&T Corporation and SunTrust Banks, and now operates across the Southeast, Mid-Atlantic, Midwest, and Southwest United States. The parent company reported $12.6 billion in revenue for FY2023.

Truist operates a platform-plus-modules architecture anchored by the Truist One Checking product (featuring no overdraft fees and a Balance Buffer of up to $100), Truist One Savings, and a five-product credit card suite (Enjoy Cash, Enjoy Travel, Future, Enjoy Beyond, secured). Lending spans LightStream unsecured personal loans, auto and recreational vehicle financing, home equity lines, and a full mortgage platform (conventional, FHA, VA, construction-to-permanent, affordable lending). Investment and wealth services include Truist Invest (automated), Truist Trade (self-directed), retirement planning, and Premier Banking for higher-balance clients, supported by Truist Investment Services, Inc. (SEC-registered broker-dealer) and Truist Advisory Services, Inc. (SEC-registered investment adviser).

Distribution combines a physical branch network across core southeastern markets with the Truist Mobile App (iOS/Android), online banking, phone banking, and dedicated relationship managers for commercial, corporate, and Premier Banking clients. Integrated payment capabilities include Zelle person-to-person transfers and Paze digital wallet. GTM operates in two parallel motions: a direct-to-consumer digital-plus-branch model for retail and small business banking, and an enterprise field sales model with specialized advisors for corporate, institutional, and wealth clients. The bank is FDIC-insured and operates as an Equal Housing Lender. Revenue is generated through net interest income on loan products (mortgages, personal, auto, home equity, commercial), deposit-related fees, credit card interest and interchange, wealth management advisory fees, and mortgage origination and servicing revenue.

Name

BB&T

Legal name

Truist Bank

Website

https://bbt.com

Company type

Public

Founded year

1872

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Truist Bank, the banking subsidiary of Truist Financial Corporation (NYSE: TFC), is a top-10 U.S. commercial bank formed from the 2019 BB&T-SunTrust merger, serving consumer, small business, commercial, and wealth clients across the Southeast, Mid-Atlantic, Midwest, and Southwest United States with checking, credit cards, loans, mortgages, and investment services.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Digital Retail Banking (Online & Mobile) (FSABAAAF)

akta.pro secondary industries

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Corporate Cards & Expense Solutions (T&E, purchasing, fleet) (FSABAIAG)

Keywords

• Retail banking services
• Commercial banking
• Wealth management
• Mortgage lending
• Consumer credit cards

Headquarters

HQ city

Winston Salem

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Interest earned on loans including mortgages, personal loans, auto loans, home equity lines, and commercial loans. Primary revenue driver for banking operations.
2. Deposit Account Fees: Monthly maintenance fees (waived for qualifying accounts), ATM fees, and other account-related charges.
3. Credit Card Revenue: Interest charges on revolving credit card balances, transaction fees from merchants, and annual fees on certain card products.
4. Wealth Management and Investment Services: Fees from investment management, brokerage accounts, annuities, and advisory services offered through Truist Investment Services and Truist Advisory Services.
5. Mortgage Lending: Origination fees, servicing revenue, and interest on mortgage loans including purchase mortgages, refinances, and home equity products.
6. Commercial Banking Services: Treasury management, payment services, investment banking, and corporate lending services for commercial, corporate, and institutional clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

BB&T, now operating as Truist Bank following the 2019 merger with SunTrust, provides full-service banking including consumer checking and savings accounts, credit cards, mortgages, personal and auto loans, wealth management, and commercial/corporate banking services. Products are delivered through physical branch locations, online and mobile banking platforms, and dedicated relationship managers for business and wealth clients.

Product overview

Truist Bank offers a comprehensive platform-plus-modules banking architecture centered around its core checking and savings products (Truist One Checking, Truist One Savings), complemented by specialized sub-brands like Truist Marquee Checking, Truist Confidence Accounts, and Money Market products. The credit card portfolio includes five distinct cards (Truist Enjoy Cash, Enjoy Travel, Future Card, Enjoy Beyond, and a secured version). Lending products span personal loans (LightStream unsecured loans, debt consolidation, home improvement, life event loans), auto and recreational financing (including RV, boat, and motorcycle loans), and mortgages (conventional, FHA, VA, construction-to-permanent, and affordable lending options). Investment and wealth services include Truist Invest (automated investing), Truist Trade (self-directed trading), retirement planning, and Premier Banking. Digital banking is delivered through the Truist Mobile App with integrated payment solutions including Zelle and Paze. The platform operates across consumer, small business, wealth management, and commercial/institutional segments.

Differentiator

Problem solved

Functional benefit

Brands

• Truist One Banking: Primary checking and banking product line including Truist One Checking and Truist One Savings
• LightStream
• Truist Marquee
• Truist Confidence
• Truist Invest
• Truist Trade

Products and services

• Truist One Checking
• Truist Marquee Checking
• Truist One Savings

Quantifiable outcome

• Balance Buffer provides up to $100 overdraft protection with no overdraft fees for qualifying accounts

Segments1 record

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• ZellecoreTechnology or IntegrationTruist offers Zelle person-to-person payment integration within its online and mobile banking platform, allowing clients to send money to friends and family directly from their Truist accounts.
• PazecoreTechnology or IntegrationTruist offers Paze digital wallet payment integration within its online and mobile banking platform for secure digital transactions.
• Truist Investment Services, Inc.coreTechnology or IntegrationSEC registered broker-dealer providing securities, brokerage accounts, and annuities. Member FINRA and SIPC. Licensed insurance agency offering investment advisory services through Truist Advisory Services, Inc.
• Truist Advisory Services, Inc.coreTechnology or IntegrationSEC registered investment adviser providing investment advisory services. Affiliated with Truist Financial Corporation and its banking subsidiaries.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Bank of America: Top-2 US full-service commercial bank with national retail, commercial, and wealth franchises. Overlaps Truist across consumer banking, credit cards (Truist Enjoy vs. BofA cards), mortgages, and Merrill wealth management, but at significantly larger scale.
• Wells Fargo: Top-3 US full-service commercial bank operating in the same core categories (retail, commercial, credit cards, mortgages, wealth) but at materially larger scale and with a national footprint. Useful benchmark for product breadth and digital scale.

Direct peers

• PNC Financial Services: Top-10 US commercial bank with comparable retail, small business, and corporate banking franchises. Similar business model spanning deposits, lending, mortgages, and wealth management, with similar geographies in the East and Midwest.
• U.S. Bancorp: Top-10 US commercial bank with a similarly diversified platform across consumer, commercial, payments, and wealth. Closely comparable in scale, product breadth, and customer-segment strategy.
• Fifth Third Bank: Top-10 US regional bank with full-service consumer, commercial, and wealth offerings. Comparable in mid-cap bank positioning, fee-income diversification, and Midwest/Southeast geographic overlap with Truist.
• M&T Bank Corporation: Large US regional bank with similar consumer and commercial banking model. Comparable in branch-based service model, deposit gathering, and commercial lending focus along the East Coast and Mid-Atlantic.
• Citizens Financial Group: Top-15 US regional bank with a similar product mix of deposits, mortgages, student lending, and commercial banking. Comparable in scale, branch-light to digital transformation strategy, and East Coast / Mid-Atlantic footprint.
• KeyCorp: Mid-cap US regional bank with comparable consumer and commercial banking businesses. Similar product portfolio spanning deposits, loans, mortgages, and wealth, with broadly comparable geographic footprint.
• Huntington Bancshares: Top-15 US regional bank with comparable full-service offerings in consumer, commercial, and wealth. Similar scale, Midwest geographic overlap, and emphasis on regional banking relationships.
• Regions Financial Corporation: Top-10 US regional bank with overlapping footprint across the Southeast and consumer/commercial banking model nearly identical to Truist. Directly comparable in revenue mix, branch density, and product breadth, making it the closest like-for-like peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/askBBT
• YouTubeyoutube.com/channel/UC10Dmvy2Ih93O8hCg_UYN6w
• Facebookfacebook.com/BBTBank
• LinkedInlinkedin.com/company/bbt
• Instagraminstagram.com/truist

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A11 records

Investments6 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BB&T