Truist Increases Prime Rate to 4.00 Percent
Truist Financial Corporation (NYSE: TFC) has announced an increase in its prime lending rate, raising it from 3.50% to 4.00%, effective May 5, 2022. This change reflects ongoing adjustments in the financial landscape.
Truist, based in Charlotte, North Carolina, ranks as a top 10 U.S. commercial bank, boasting total assets of $544 billion as of March 31, 2022. The bank offers a comprehensive range of financial services aimed at enhancing community and economic well-being.
- Strong market position with leading share in high-growth areas.
- Total assets of $544 billion as of March 31, 2022.
- Increase in prime lending rate may lead to higher borrowing costs for consumers and businesses.
CHARLOTTE, N.C., May 4, 2022 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) announced an increase in its prime lending rate to 4.00 percent from 3.50 percent, effective tomorrow, May 5, 2022.
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of
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SOURCE Truist Financial Corporation
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