Fifth Third Announces Second Quarter 2022 Results

About this update from Fifth Third Bancorp

[{"type":"text","content":"\nReported diluted earnings per share of $0.76\n\nReported results included a negative $0.03 impact from certain item(s) on page 2\n\n CINCINNATI--(BUSINESS WIRE)--\nFifth Third Bancorp (NASDAQ: FITB):\n\nKey Highlights\n\nSelect Business Highlights:\n\n\nGenerated consumer household growth of 2% compared to 2Q21\n\n\nAnnounced stress capital buffer requirement of 2.5% (regulatory minimum)\n\n\nClosed acquisition of Dividend Finance, a national point-of-sale consumer lender\n\n\nAnnounced $100 billion environmental and social finance target to be achieved through 2030\n\n\nSelect Financial Highlights:\n\n\nROTCE(a) of 17.5%; adjusted ROTCE(a) of 15.2% excl. AOCI\n\n\nCompared to 2Q21, PPNR(a) increased 13% (adjusted PPNR(a) increased 11%)\n\n\nEfficiency ratio(a) of 55%, a 4 point improvement from 2Q21\n\n\nNet interest income(a) increased 12% compared to 1Q22; NIM(a) up 33 basis points compared to 1Q22\n\n\nACL of 1.85%, an increase of 5 bps from 1Q22 (includes 4 bps from Dividend Finance); Net charge-off ratio of 0.21% and NPA ratio of 0.47%\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nKey Financial Data\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n$ millions for all balance sheet and income statement items\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n2Q22\n\n\n\n \n\n\n\n1Q22\n\n\n\n \n\n\n\n2Q21\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nIncome Statement Data\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet income available to common shareholders\n\n\n\n$526\n\n\n\n \n\n\n\n$474\n\n\n\n \n\n\n\n$674\n\n\n\n \n\n\n\n\n\nNet interest income (U.S. GAAP)\n\n\n\n1,339\n\n\n\n \n\n\n\n1,195\n\n\n\n \n\n\n\n1,208\n\n\n\n \n\n\n\n\n\nNet interest income (FTE)(a)\n\n\n\n1,342\n\n\n\n \n\n\n\n1,198\n\n\n\n \n\n\n\n1,211\n\n\n\n \n\n\n\n\n\nNoninterest income\n\n\n\n676\n\n\n\n \n\n\n\n684\n\n\n\n \n\n\n\n741\n\n\n\n \n\n\n\n\n\nNoninterest expense\n\n\n\n1,112\n\n\n\n \n\n\n\n1,222\n\n\n\n \n\n\n\n1,153\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nPer Share Data\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nEarnings per share, basic\n\n\n\n$0.76\n\n\n\n \n\n\n\n$0.69\n\n\n\n \n\n\n\n$0.95\n\n\n\n \n\n\n\n\n\nEarnings per share, diluted\n\n\n\n0.76\n\n\n\n ...

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