SunTrust Banks Inc. said Wednesday that its 4Q earnings were down 99 percent because of rising loan loss provisions and a loss linked to bailing out investment funds.
Net income decreased to 3/3 million dollars – or a cent per share – from $498.6 million, or $1.39 per share.
SunTrust Banks, Inc. is an American bank holding company. The largest subsidiary is SunTrust Bank. It had $182.2 billion in assets as of December 31, 2006 . SunTrust Bank's most direct corporate parent was established in 1891 in Atlanta , Georgia , where its headquarters remain. SunTrust Bank operates approximately 1,700 bank branches across southeastern states, including Alabama , Arkansas , Florida , Georgia , Maryland , Mississippi , North Carolina , South Carolina , Tennessee , Virginia , West Virginia, and Washington, DC.
"We should use shock therapy to sober up the Americans. In this case, the Americans will speak about the need to resume dialogue. There is no other option"
The United States is concerned about the current crisis in the relations with Russia and suggests returning to reasonable policies to avoid a nuclear war