Fifth Third Announces First Quarter 2021 Results
Fifth Third Bancorp (NASDAQ: FITB) reported a strong performance in 1Q21, returning $180 million to shareholders through stock repurchases and having the capacity for an additional $347 million in 2Q21.
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Fifth Third Bancorp (NASDAQ®: FITB):
Key Highlights
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Returned
$180 million to shareholders through repurchases; capacity to repurchase up to$347 million in 2Q21 -
ROTCE(a) of
16.8% ; adjusted ROTCE(a) of19.8% excl. AOCI improved 150 bps sequentially - Produced record commercial banking revenue
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Generated consumer household growth of
3% compared to 1Q20 - Historically low NCO ratio reflecting improvements in commercial and consumer
- Benefit to credit losses and resulting reserve coverage reflects improved macroeconomic environment and strong credit results; NPA ratio improved 7 bps sequentially
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NII(a) down
1% ; reported NIM(a) increased 4 bps, with ~4 bps decline in underlying NIM excl. excess cash and all PPP impacts(f) - Named one of the "World's Most Ethical Companies" by Ethisphere
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Exceeded five-year commitment to low-and-moderate income communities by more than
$9 billion
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Key Financial Data |
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$ millions for all balance sheet and income statement items |
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1Q21 |
4Q20 |
1Q20 |
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Income Statement Data |
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