Home / Business and Economy / Truist Sells $5.5B in Auto Loans
Truist Sells $5.5B in Auto Loans
16 Sep
Summary
- Truist Financial is selling $5.5 billion in auto loans.
- CEO Mike Lyons is driving a bank overhaul.
- The move exits less profitable, non-core businesses.
Truist Financial has agreed to sell $5.5 billion of its auto loans. This move aligns with CEO Mike Lyons' broader strategy to restructure the U.S. bank. The divestiture targets the exit of business areas that are less profitable or considered non-core assets. This sale represents a significant step in Truist's ongoing efforts to streamline its operations and focus on more core business functions.
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