April 20, 2018 / 10:08 AM / 8 months ago

BRIEF-Suntrust Reports Qtrly Net Interest Income Of $1,441 Million Versus $1,366 Million

April 20 (Reuters) - SunTrust Banks Inc:

* SUNTRUST REPORTS FIRST QUARTER 2018 RESULTS

* Q1 REVENUE $2.3 BILLION VERSUS I/B/E/S VIEW $2.28 BILLION

* QTRLY NET INCOME AVAILABLE TO COMMON SHAREHOLDERS OF $1.29 PER AVERAGE COMMON DILUTED SHARE

* QTRLY NET INTEREST INCOME OF $1,441 MILLION VERSUS $1,366 MILLION

* SUNTRUST BANKS - NET INTEREST MARGIN WAS 3.24% IN CURRENT QUARTER, UP 7 BASIS POINTS SEQUENTIALLY AND UP 15 BASIS POINTS COMPARED TO PRIOR YEAR

* COMMON EQUITY TIER 1 (“CET1”) RATIO WAS ESTIMATED TO BE 9.8% AS OF MARCH 31, 2018, SLIGHTLY HIGHER THAN PRIOR QUARTER

* SUNTRUST BANKS - QUARTER-END BOOK VALUE PER COMMON SHARE WAS $47.14 & TANGIBLE BOOK VALUE PER COMMON SHARE WAS $33.97, BOTH DOWN 2% FROM DECEMBER 31, 2017

* QTRLY PROVISION FOR CREDIT LOSSES DECREASED $51 MILLION SEQUENTIALLY AND $91 MILLION YEAR-OVER-YEAR

* SUNTRUST BANKS - NET CHARGE-OFFS FOR CURRENT QUARTER WERE $79 MILLION, OR 0.22% OF TOTAL AVERAGE LHFI ON AN ANNUALIZED BASIS, DOWN $28 MILLION SEQUENTIALLY

* Q1 EARNINGS PER SHARE VIEW $1.11 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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