Truist Eyes Sale of Specialty Lender Afco to Sharpen Core Banking Focus
By PYMNTS
AI summary of the source article
Truist is seeking a buyer for specialty lender Afco Credit, looking to sell the business outright or divest its assets. The move comes as Truist unloads noncore lending businesses to sharpen its focus on banking operations.
Why it matters
The sale is intended to help the bank unload noncore lending businesses and sharpen its focus on banking operations.
Key facts
- Truist is seeking a buyer for specialty lender Afco Credit.
- Afco specializes in insurance premium financing.
- Truist is looking to sell the business outright or sell its assets.
Source excerpt · PYMNTS
Truist is seeking a buyer for specialty lender Afco Credit as the bank sharpens its focus on banking operations, Bloomberg reported Monday (Oct. 26), citing unnamed sources. Afco handles insurance premium financing, and Truist is unloading noncore lending businesses, according to the report. Truist is looking to sell the business outright, or its assets, per […] The post Truist Eyes Sale of Specia…