SunTrust 2012 Annual Report Download - page 4

SUNTRUST BANKS, INC. 2012 ANNUAL REPORT
To Our Shareholders
For SunTrust, 2012 marked a year in which we made meaningful
improvements in our financial performance and generated substantial
momentum in key operational areas. Against a backdrop of a slowly
recovering economy and headlines about fiscal concerns and the
European debt crisis, we executed strategic plans that fostered
growth and improved our corporate and competitive positions.
We capitalized on revenue opportunities and
improved our efciency, realizing benets
from our ongoing investments and efforts to
transform our businesses for long-term success.
Efciency improvements, technology upgrades,
client loyalty initiatives, talent acquisitions, and
the build-out of key businesses contributed
to our positive operating trends. Furthermore,
we took denitive actions to strengthen our
balance sheet and improve our risk prole.
Credit quality improved signicantly, and
credit-related expenses began to abate.
The result of all of this was increasingly improved
performance over the course of the year.
As I look toward the future, I’m optimistic about
our prospects and ability to leverage the work we
have done over the last several years. Our company
is strong and, I believe, exceedingly well positioned.
Further, while I wouldn’t yet characterize the overall
economy as recovered, we did see improvements
in the majority of our markets over the course of
the year — most notably in housing — which makes
our opportunity even brighter.