Fifth Third Announces Fourth Quarter 2020 Results
Rhea-AI Impact
Rhea-AI Sentiment
Fifth Third Bancorp (FITB):
Key Highlights
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CET1 approx. 84 bps above target; positioned to initiate repurchases up to
$180 million in 1Q21
- Solid credit quality, with stable NCOs and declines in NPAs; reserve coverage reflects improved macroeconomic environment and credit results
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Completed divestitures of property & casualty insurance and 401(k) recordkeeping businesses as well as facility exits to help deliver
$200 million of annual expense savings
- Closed acquisition of Hammond Hanlon Camp LLC, expanding our healthcare advisory expertise
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Made
$2.8 billion commitment to accelerate racial equity, equality and inclusion, including 4Q20 donation of$25 million
4Q20 compared to 3Q20
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NII up
1% ; Reported NIM stable, with ~8 bps expansion to underlying NIM excl. excess cash and all PPP impacts(f)
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Noninterest income up
9% , and up16% excl. certain items(a) reflecting record commercial banking revenue
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Noninterest expense up
6% (up3% excl. certain items and after impact of non-qualified deferred compensation(a)) reflecting strong business performance
Key Financial Data |
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$ millions for all balance sheet and income statement items |
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4Q20 |
3Q20 |
4Q19 |
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Income Statement Data |
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Fifth Third Bancorp
NASDAQ:FITBFITB RankingsFITB Latest NewsFITB Stock Data
23.98B
664.25M
0.41%
87.44%
3.9%
Banks - Regional
State Commercial Banks
United States
CINCINNATI
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