NYSE Shariah screener · October 2026
Is Truist Financial Corporation (TFC) Halal?
Truist Financial Corporation · NYSE: TFC · Financials
The short answer
No -- Truist Financial Corporation (TFC) fails this Shariah stock screen at all three gates. Per its own FY2025 10-K, Truist is a bank holding company whose core business is conventional banking and lending through Truist Bank (one of the 10 largest U.S. commercial banks, ~$547.5B in assets) -- consumer and commercial banking, investment banking, wealth management, and specialized lending -- a non-compliant business activity under the AAOIFI-style business screen, with interest income from loans and securities as its principal source of income. Interest-bearing debt of $69,802M (short-term borrowings $27,839M plus long-term debt $41,963M; deposits excluded) is about 120.74% of its ~$57.81B market cap ($46.28, latest close retrieved October 2, 2026), above the ~33% ceiling. Total interest income of $24,542M is about 80.63% of gross revenue (net interest income $14,423M is 70.98% of reported total net revenue), above the 5% non-compliant income ceiling. Third parties agree where they cover it: Zoya flags TFC not Shariah-compliant and Musaffa classifies it not halal (October 2026); ShariaPortfolio has no TFC page found. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.
Gate 1 — Business activity: FAIL
Truist Financial Corporation (NYSE: TFC), headquartered in Charlotte, North Carolina, is a bank holding company (a BHC that has elected to be a financial holding company, regulated by the Federal Reserve Board) whose principal business, per its FY2025 10-K Item 1, is financial services through two operating segments -- Consumer and Small Business Banking and Wholesale Banking -- including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending. Its largest subsidiary, Truist Bank (chartered 1872), is one of the 10 largest commercial banks in the United States, with 1,927 branches and about $547.5B in total assets at December 31, 2025. Note 1 states that the company's principal source of income is interest income from loans and securities. Its insurance brokerage (TIH) was sold in 2024 and is reported as discontinued operations. Business screen (factual, from the filing): core business is conventional interest-based banking and lending -- a non-compliant business activity under the AAOIFI-style business screen applied on this site, the same treatment as U.S. Bancorp, JPMorgan, and Bank of America in this pipeline. Gate 1 fails. Facts only.
Gate 2 — Debt and cash: FAIL
Per Truist's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $69,802M -- short-term borrowings of $27,839M plus long-term debt of $41,963M. Deposits are excluded (noninterest-bearing deposits $105,092M and interest-bearing deposits $295,306M are not counted as debt). Against a market cap of about $57.81B ($46.28 latest close retrieved October 2, 2026; 1,249,168,322 shares outstanding per the 10-K cover), debt divided by market cap is about 120.74% -- nearly four times the ~33% ceiling. Cash and due from banks plus interest-bearing deposits with banks total $36,377M, about 62.9% of market cap -- expected for a bank, not a gate. Gate 2 fails. Facts only.
Gate 3 — Non-compliant income: FAIL
Truist's FY2025 10-K income statement reports total interest income of $24,542M -- interest and fees on loans and leases $18,744M, interest on securities $3,773M, and interest on other earning assets $2,025M -- against gross revenue of $30,438M (interest income plus noninterest income of $5,896M), or about 80.63% of gross revenue -- more than sixteen times the 5% non-compliant income ceiling. On the net basis the company itself reports, net interest income of $14,423M is about 70.98% of reported total net revenue ($20,319M). Either measure fails decisively, and the gross figure matches Zoya's independent parse of the same filing (80.63%). Gate 3 fails. Facts only.
Key figures used
- Business: bank holding company (BHC elected as FHC), HQ Charlotte, North Carolina -- Truist Bank one of the 10 largest U.S. commercial banks (1,927 branches; ~$547.5B total assets at Dec 31, 2025); segments: Consumer and Small Business Banking, Wholesale Banking; insurance (TIH) sold 2024, discontinued
- Gate 1: conventional interest-based banking/lending is the core business -- non-compliant business activity; Note 1: principal source of income is interest income from loans and securities
- Debt: $69,802M = short-term borrowings $27,839M + long-term debt $41,963M (deposits excluded) -- debt / market cap = 120.74% of ~$57.81B, far above the ~33% ceiling
- Cash: $36,377M cash and equivalents (due from banks + interest-bearing deposits with banks) = ~62.9% of market cap -- expected for a bank, not a gate
- Non-compliant income: total interest income $24,542M (18,744 loans/leases + 3,773 securities + 2,025 other earning assets) = 80.63% of $30,438M gross revenue; net interest income $14,423M = 70.98% of $20,319M reported total net revenue -- both far above the 5% ceiling
- Market cap: $46.28 (latest close, retrieved Oct 2, 2026) x 1,249,168,322 shares outstanding (FY2025 10-K cover) = ~$57.81B
- Zoya: not Shariah-compliant (assessment date blank, Oct 2026; Zoya's data fields: 80.63% interest income corroborates this page's math); Musaffa: not halal (Oct 2026, AAOIFI); ShariaPortfolio: no coverage found
- Result: FAIL at all three gates -- business activity, debt ratio, and non-compliant income
Frequently asked questions
What does Truist Financial do?
Truist Financial Corporation (NYSE: TFC), headquartered in Charlotte, North Carolina, is a bank holding company (a BHC that has elected to be a financial holding company) whose principal business, per its FY2025 10-K Item 1, is financial services delivered through two operating segments -- Consumer and Small Business Banking, and Wholesale Banking -- including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending. Its largest subsidiary, Truist Bank (chartered 1872), is one of the 10 largest commercial banks in the United States, with 1,927 branches and about $547.5B in total assets at December 31, 2025. Note 1 to the financial statements states that the company's principal source of income is interest income from loans and securities. Its insurance business (Truist Insurance Holdings, TIH) was sold in 2024 and is reported as discontinued operations, so it is no longer part of the current business.
Why does Truist Financial fail this Shariah stock screen?
Truist fails all three gates of this screen. Gate 1 (business activity): its core business is conventional banking -- interest-based lending (commercial, real estate, mortgage, auto, credit card), deposit-taking, investment banking, wealth management, and payments -- which is a non-compliant business activity under the AAOIFI-style business screen applied on this site (the same treatment as the other banks screened in this pipeline, e.g., U.S. Bancorp, JPMorgan, Bank of America). Note 1 states interest income from loans and securities is its principal source of income. Gate 2 (debt): interest-bearing debt of $69,802M is about 120.74% of its ~$57.81B market cap, far above the ~33% ceiling. Gate 3 (non-compliant income): total interest income of $24,542M is about 80.63% of gross revenue -- far above the 5% ceiling. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.
What is Truist Financial's interest-bearing debt ratio?
Per Truist's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $69,802M -- short-term borrowings of $27,839M plus long-term debt of $41,963M. Deposits are excluded from this figure (noninterest-bearing deposits $105,092M and interest-bearing deposits $295,306M are not counted as debt). Against a market cap of about $57.81B ($46.28 latest close retrieved October 2, 2026; 1,249,168,322 shares outstanding per the 10-K cover), debt divided by market cap is about 120.74% -- nearly four times the ~33% ceiling. Cash and due from banks plus interest-bearing deposits with banks total $36,377M (cash and cash equivalents at December 31, 2025), about 62.9% of market cap -- expected for a bank, not a gate. Gate 2 fails.
What is Truist Financial's non-compliant income ratio?
Truist's FY2025 10-K income statement reports total interest income of $24,542M -- interest and fees on loans and leases $18,744M, interest on securities $3,773M, and interest on other earning assets $2,025M -- against gross revenue of $30,438M (interest income plus noninterest income of $5,896M), or about 80.63% of gross revenue -- more than sixteen times the 5% non-compliant income ceiling. On the net basis the company itself reports, net interest income of $14,423M is about 70.98% of reported total net revenue ($20,319M). Either measure fails decisively; the figure matches Zoya's independent parse of the same filing (80.63%). Gate 3 fails.
Do Zoya, Musaffa, or ShariaPortfolio cover Truist Financial?
Zoya covers TFC and flags it as not Shariah-compliant (zoya.finance/stocks/tfc; the page's displayed assessment date was blank when accessed in October 2026) -- it does not rate Truist halal; its data fields independently record FY2025 interest income of $24,542,000,000 on gross revenue of $30,438,000,000 (80.63%), corroborating this page's Gate 3 math. Musaffa covers TFC and classifies it as not halal as of October 2026 under its AAOIFI methodology (musaffa.com/stock/TFC/). No ShariaPortfolio screener page for TFC was found in web searches -- honestly reported as no coverage found, not invented. All coverage found is consistent with this page's own FAIL outcome. This page applies the screen directly from Truist's own filings and reports these positions honestly.
Sources
- Truist Financial Corporation -- FY2025 Form 10-K (fiscal year ended Dec 31, 2025; CIK 92230; SEC filing as converted): cover (Common Stock TFC, New York Stock Exchange; 1,249,168,322 shares outstanding at Jan 31, 2026), Item 1 Business (BHC elected FHC; Truist Bank one of 10 largest US commercial banks; 1,927 branches; WB and CSBB segments), consolidated balance sheet (short-term borrowings $27,839M; long-term debt $41,963M; deposits excluded; total assets $547,538M; total liabilities $482,349M; cash and equivalents $36,377M), consolidated statements of income (interest and fees on loans and leases $18,744M; interest on securities $3,773M; interest on other earning assets $2,025M; total interest income $24,542M; net interest income $14,423M; noninterest income $5,896M; net income $5,307M), Note 1 (principal source of income is interest income from loans and securities)
- Finnhub -- TFC market data ($46.28 latest close, ~$56.75B market cap, XNYS listing; retrieved Oct 2, 2026)
- Zoya -- Truist Financial (TFC) stock page (status: not Shariah-compliant; assessment date blank when accessed Oct 2026; data fields record FY2025 revenue $30,438,000,000 and interest income $24,542,000,000 = 80.63% of combined total)
- Musaffa -- Truist Financial Corp (TFC) stock page (status: not halal as of October 2026, AAOIFI methodology)
Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.
Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).