SunTrust 2012 Annual Report Download - page 6
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SUNTRUST BANKS, INC. 2012 ANNUAL REPORT
Strategic Priorities
The rst strategic priority is to continue to optimize
the balance sheet and business mix. Our efforts
in this area have been centered on managing down
our concentration of real estate-related loans while
growing targeted portfolios. In 2009, nonguaranteed
mortgages, home equity, commercial real estate,
and construction loans totaled one-half of our
portfolio. Today, those categories are down $13
billion to 36% of our portfolio. During that same
period, we more than offset this decline with
growth in targeted loan categories, including
commercial and industrial and consumer, which
are up a combined $18 billion. Achieving better
diversication in our business mix, particularly
A complete review of our 2012 performance
follows this letter, and I invite your attention
to those details.
Looking forward, we are building a more effective
and efcient company and we expect to continue
to grow by leveraging the momentum we have
generated. We have a strong foundation, intensity
across the organization is high, and we are focused
on executing our strategic priorities to drive
continuing improvement in our core performance.
Wholesale Banking
• This business segment generated record
revenue and net income in 2012, which reects
the success of our holistic approach toward
meeting the needs of our business clients.
• Revenue increased by 8%, driven by increased
capital markets fees and higher net interest
income associated with loan growth and
favorable deposit trends.
• This revenue growth, together with improved
credit quality, led to net income in 2012 that
was more than double that of 2011.
Mortgage Banking
• During 2012 we originated more than $32 billion
in mortgage loans, an almost 40% increase from
2011, helping over 128,000 borrowers buy or
renance a home.
• We also received external recognition for our
customer service in both mortgage servicing and
origination. In the J.D. Power and Associates
2012 Primary Mortgage Servicer Study,
SM SunTrust
ranked third in overall satisfaction, and in the
2012 Primary Mortgage Origination Study,
SM
SunTrust ranked fth in overall satisfaction.