Truist Financial (TFC) official guidance

Based on our current pipeline and economic outlook, we continue to expect average loan growth of approximately 3%-4% in 2026.

Based on our current pipeline and economic outlook, we expect 3%-4% average loan growth in 2026.

I think our outlook for deposits year-over-year average is low single digits, John.

As I mentioned earlier in the call, due to increased client-driven transaction activity in our project finance business, we now expect our effective tax rate to approximate 14.5%, or 16.5% on a taxable equivalent basis in 2026, versus our previous expectation of 16.5% and 18.5%, respectively.

Finally, we expect our effective tax rate to approximate 16.5% or 18.5% on a taxable equivalent basis in 2026 versus 16.4% and 18.9% in 2025.

For full year 2026, we now expect net interest income to increase 2%-3%, compared with our prior expectation of 3%-4% growth.

For full year 2026, we expect net interest income to increase by 3%-4%.

In terms of asset quality, there's no change in our expectations for net charge-offs to be about 55 basis points in 2026.

In terms of asset quality, we expect net charge-offs of about 55 basis points in 2026, which is relatively stable compared with net charge-offs of 54 basis points in 2025.

We now expect high single-digit growth in non-interest income compared with our prior expectation of mid- to high-single-digit growth.

For full year 2026, we expect revenue to increase 4% to 5% relative to 2025 revenue of $20.5 billion, driven by 3% to 4% growth in net interest income and mid to high single-digit growth in non-interest income.

In addition, we now expect full year GAAP non-interest expense to increase approximately 1.75% in 2026 versus our previous expectation of 1.25%-2.25% growth.

We expect full year 2026 GAAP non-interest expense to increase by 1.25% to 2.25% in 2026 versus GAAP 2025 non-interest expense of $12.1 billion.

Taken together, although we are modestly refining our revenue outlook to the low end of the prior 4%-5% range, our overall earnings expectations for 2026 remain unchanged.

Our expectation is that our revenue growth will double in 2026, and when combined with our expense discipline, should lead to even greater operating leverage and profitability improvement this year.

Call it 4%+. Yes, sir. Yep.

As we close, I want to reinforce the confidence I have in Truist's direction and earnings trajectory we're building. As shown on slide 18, we continue to have clear line of sight to a 14% return on tangible common equity in 2026 and 15% in 2027, driven by improving profitability, continued execution across the franchise and strong capital return.

I'll also say that this is going to be we see this as more of a straight line. So in addition to 15, we're locked in on 14 for this year.

We are targeting repurchases of $1.2 billion in the second quarter and approximately $5 billion in 2026, compared with our previous expectation for $4 billion of repurchases for full year 2026.

As it relates to buybacks, we're targeting approximately $4 billion of share repurchases during the year.

In addition, we plan to increase our share repurchase program in 2026 to $3 billion-$4 billion, which is above the 2025 level, as we'll now target a 10% CET1 ratio by the end of 2027.

Finally, we expect our effective tax rate to approximate 16.5% or 18.5% on a taxable equivalent basis in 2026 versus 16.4% and 18.9% in 2025.