SunTrust Bullish on Housing but Wants to Diversify

SunTrust is looking forward to a housing recovery bolstering its fortunes, but its chief executive told attendees at an investor conference that the company does not plan to rely too much on residential real estate.

Chairman and CEO William H. Rogers Jr. said at Citi’s webcast U.S. Financial Services Conference in Boston Tuesday that it perceives opportunities to increase its share within mortgage banking, but it also is diversifying its company loan portfolio away from residential property.

Rogers said it is an opportune time to grow commercial real estate, and would like the company’s exposure to residential real estate as a percentage decrease.