SunTrust reported Q1/16 net income available to common shareholders of $430 million compared to $411 million for the same quarter in 2015. The bank said total revenue in Q1/16 of $2,099 million was up 5.4% or $107 million from $1,992 million a year earlier. The bank said the increase was driven primarily by higher net interest income as a result of loan growth and net interest margin expansion.
The following highlights were excerpted from the news release:
“We delivered solid revenue growth this quarter as we continued to meet more client needs across each of our businesses, benefiting from our diverse business model and consistent strategies,” said William H. Rogers, Jr., chairman and CEO of SunTrust Banks. “This revenue performance, combined with continued expense discipline, resulted in a good start to the year with 8% earnings growth. We remain highly focused on improving the financial well-being of our clients and communities and delivering increased value to our shareholders.”
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