SunTrust sees Signs of Profitable Third Quarter
Press release from the issuing company
Thursday, September 16th, 2010
SunTrust Banks expects to post its first profit in two years for the third quarter, citing better-than-expected deposit volume, lower balances in its high-risk construction loan portfolio and solid performance in its investment banking and mortgage businesses.
If its projection holds true for the three-month period that ends Sept. 30, the profit would reverse a string of quarterly losses the Atlanta-based banking giant has racked up since the third quarter of 2008.
