NEW YORK (Reuters) - SunTrust Banks Inc , a large U.S. southeast regional bank, said on Thursday that third-quarter profit fell 25 percent, hurt by the effects of the tough credit environment.
Net income for the Atlanta-based bank fell to $307.3 million, or 88 cents per share, from $412.6 million, or $1.18 a share, a year earlier. Revenue rose 20.7 percent to $2.46 billion.
SunTrust set aside $503.7 million for loan losses, up from $147 million a year earlier.
Earlier this year, SunTrust announced plans to dispose of its 43.6-million-share stake in Coca-Cola
Analysts have said the disposition could make SunTrust a more attractive takeover candidate.
(Reporting by Jonathan Stempel and Franklin Paul; Editing by Lisa Von Ahn)
