2021 bank reputation survey: Goodwill humming
Last year could have been a reputational disaster for Truist Financial. When the COVID-19 pandemic struck in early 2020, the company was just starting to blend the franchises of BB&T and SunTrust into one after their coupling in 2019.
Mergers often reveal organizational weaknesses, and the pandemic brought major new challenges for all businesses. So much so that most U.S. industries suffered a decline in their reputation over the past year, according to RepTrak, a Boston-based reputation research company.
But Truist successfully managed a slew of potential disruptions. Organization and leadership emerged as key strengths, helping drive up its reputation score in a meaningful way among both customers and noncustomers, based on the results of the annual American Banker/RepTrak Survey of Bank Reputations.