Truist cost cuts will have minimal impact on D.C. region, says market President Evelyn Lee

Truist Financial Corp. (NYSE: TFC) plans to aggressively cut costs over the next several quarters in a bid to improve its efficiency and its bottom line, but the Charlotte-based bank’s local leader said the impact of those cuts in Greater Washington will be minimal. That’s because Truist’s leadership views the Washington-Baltimore region as a growth area for the $555 billion-asset bank, said Evelyn Lee, the president of the Greater Washington region who next week will also take over as head of the Maryland region following the retirement of that market’s longtime leader, Greg Farno.