Truist Financial Corp
TFCCompany Overview
Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate. The Consumer Banking and Wealth segment consists of Retail Community Banking, National Consumer Finance, Services, Payments, Wealth Management and Banking Products and Professional Services and Mortgage Banking. The Corporate and Commercial Banking segment consists of Corporate and Investment Banking, Commercial Community Banking and Commercial Real Estate. The Insurance Holdings segment provides property and casualty, employee benefits and life insurance to businesses and individuals and also provides small business and corporate services, such as workers compensation and professional liability, as well as surety coverage and title insurance. It offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing, and equipment financing. It also markets a range of other services, including deposits, life insurance, property, and casualty insurance. The company was founded on December 6, 2019, and is headquartered in Charlotte, NC.
Shariah Compliance Benchmarks:
- Business Compliance: Non-Shariah compliant revenue must be less than 5% of total revenue
- Liabilities Compliance: Interest-bearing debt must be less than 33% of market capitalization
This stock does not meet all Shariah compliance criteria according to AAOIFI standards.
| Name | Truist Financial Corp |
| Ticker | TFC |
| Main Business | Banks - Regional |
| Type | Common Stock |
| Industry | Banks - Regional |
| Country | US |
| Market Cap | $49.10 B |
Shariah Analysis Breakdown
| Revenue Segment | Value ($M) | Non-Compliant ($M) | Reason |
|---|---|---|---|
| Consumer Banking and Wealth (CB&W) | $13,500.0 | $13,500.0 | Banking |
| Corporate and Commercial Banking (C&CB) | $8,730.0 | $8,730.0 | Banking |
| Insurance Holdings (IH) | $3,240.0 | $3,240.0 | Insurance |
| Other, Treasury and Corporate (OT&C) | $-2,440.0 | $0.0 | - |
| Interest income | $0.0 | $0.0 | - |
| Total | $23,030.0 | $25,470.0 | 52.52% (failed) |
| Liability Item | Value ($M) | % of Market Cap |
|---|---|---|
| long term debt and capital lease obligation non current | $38,920,000,000.0 | 79.26% |
| derivative product liabilities non current | $1,630,000,000.0 | 3.32% |
| current debt and capital lease obligation current | $20,780,000,000.0 | 42.32% |
| Total Interest-Bearing Debt | $61,330,000,000.0 | 124.90% |
| Market Capitalization | $49,103,600,000.0 | 100.00% |
| Compliance Status | Threshold: 33% | failed |