July 22 (Reuters) - Truist Financial ( TFC ) reported a

33% drop in second-quarter profit on Monday, dragged down by a

$5.1 billion loss on the sale of some securities and lower net

interest income (NII).

The bank's results mirror earnings at several lenders, which

have seen a decline in NII as high interest rates impede loan

demand.

NII fell 2% to $3.58 billion. Average loans and leases

decreased 6% from same quarter last year, Truist said.

The bank in May sold a portfolio of low-yielding securities

to focus on better alternatives, leading to an after-tax loss of

$5.1 billion, in a move that it said would help push its 2024

revenue higher than previously forecast.

Its second-quarter profit was also dragged down by a $150

million charitable contribution and restructuring charges of $96

million, partly offset by a gain from the sale of its insurance

business, the bank said.

Net income available to common shareholders fell to $826

million, or 62 cents per share, for the quarter ended June. That

compares with $1.23 billion, or 92 cents per share, in the

year-ago period.

Truist's shares fell nearly 1% in premarket trading.