SunTrust 2011 Annual Report Download - page 5
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3
strategic priorities
Grow Consumer Market and
Wallet Share
Over the last several years, we
have evolved our retail focus from
one that was more sales-led to one
in which service excellence forms
the foundation for expanded client
relationships. We believe that
delivering industry-leading service
quality will lead to improved client
loyalty and increased consumer
wallet and market share.
Evidence that our approach is working
emerged in 2011. We expanded
our primary relationships over the
prior year, and building on client
loyalty as a foundation, signicantly
expanded our product penetration per
relationship. From an overall deposit
market share perspective, and despite
increased competition, we were up in
eight of our 10 largest markets.
And on the lending side, we delivered
strong performance particularly in
the second half of the year.
In a very short period of time, we
have become an industry leader in
service quality and client loyalty. Our
goal now is to better monetize this
position with an increased focus on
client acquisition and retention, and
signicant improvement in expanding
current relationships. We are making
progress and these objectives are on
a positive trajectory today.
Better Diversify the Loan Portfolio
Our second strategic priority is to
improve the diversity, and thereby
the risk prole, of our loan portfolio.
We have targeted loan growth in
commercial and industrial, consumer,
and government guaranteed loans,
while signicantly reducing and
better diversifying our exposure to
real estate-related loans.
We made noteworthy progress
during 2011. Commercial and
industrial loans were up 11 percent.
Direct and indirect consumer loans
were up 9 percent, including
portfolio acquisitions.
At the same time, we continued
the multi-year trend of reducing
our exposure to certain higher-risk
real estate-related loans, signicantly
improving our overall risk prole.
We have made purposeful and
meaningful shifts in the composition
of our portfolio. We will continue
to target growth in select portfolios
while reducing exposure to specic
loan categories.
In a very short period
of time, we have
become an industry
leader in service
quality and client
loyalty.