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via americanbanker.comBusiness & Companies

Truist explores sale of specialty lender Afco Credit

FROM THE WIRE · AMERICANBANKER.COM

The potential divestiture comes as new CEO Mike Lyons seeks to get rid of non-core businesses while investing in the branch network, mobile banking and other operations tied to deposit-gathering.

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralPossible divestiture of a non-core unit by a large bank, with limited expected effect on the stock.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Truist is reportedly exploring a sale of Afco Credit.
  2. 02New CEO Mike Lyons wants to shed non-core businesses.
  3. 03The bank will invest in its branch network, mobile banking and deposit-gathering operations.

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