SunTrust Banks Inc

Industry: Regional Banks

Fortune Rank: 224

For the nine months ended 30 September 2005, SunTrust Banks, Inc.'s interest income increased 54% to $5.56B. Net interest income after LLP increased 30% to $3.26B. Net income increased 31% to $1.47B. Net interest income reflects robust loan growth and the acquisition of National Commerce Financial Corporation, partially offset by lower net interest rate spreads. Net income also reflects a sharp increase in non-interest income.

SunTrust Banks, Inc. (SunTrust) is a financial holding company that, through its banking subsidiaries, provides deposit, credit, trust and investment services. Additional subsidiaries provide mortgage banking, insurance, asset management, brokerage and capital markets services. Effective October 1, 2004, National Commerce Financial Corporation (NCF) merged with SunTrust. SunTrust operates under six business segments: Retail, Commercial, Corporate and Investment Banking, Wealth and Investment Management (formerly known as Private Client Services), Mortgage and NCF. The Company's 1,710 retail and specialized service branches and 2,804 automated teller machines are located primarily in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia. In addition, SunTrust provides customers with a selection of technology-based banking channels, including Internet, personal computer and telephone banking.

SunTrust Banks Inc

SunTrust Banks Inc achieved revenue of $10,420.00 million in 2010 but posted a loss of $-1,563.70 million.

SunTrust Banks Inc's rank changes

The company's ranking in 2010 was a decline from 2009 when it was ranked 211th on the Fortune 500. The Previous ranking was based on its 2009 revenue of $12,801 million (a change of -2 million compared to 2010) and profits of $796 million (a change of -797 million compared to 2010).

Another point of view

To many investors, profits are more important than revenue a company earns, If the Fortune 500 was ranked by profits instead of revenue then SunTrust Banks Inc would be ranked 479th rather than 224th due to the fact it made a loss of $-1,564 million in 2010.

SunTrust Banks Inc Revenue* Profit* Fortune Ranking

* US$ Million

USPages Latest Business News At A Glance Business Shortcuts