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Fifth Third Announces Third Quarter 2019 Results

Nachrichtenquelle: Business Wire (engl.)
22.10.2019, 12:30  |  283   |   |   

Fifth Third Bancorp (FITB):

Key Highlights

  • Achieved previously stated 4Q19 financial targets sooner than expected

 

Reported

Adjusted(1)

ROTCE(a)

14.2%

16.5%

ROA

1.28%

1.35%

Efficiency(a)

58.4%

56.7%

  • Revenue and expense performance exceeded July expectations
  • Record capital markets revenue
  • Strong commercial loan production, up 15% vs. 3Q18 and up 26% vs. 2Q19
  • Effectively managed interest bearing core deposit costs (down 2 bps vs. 2Q19) while continuing to grow average core deposits (up 2% vs. 2Q19)
  • Remain on-track to achieve MB expense savings by 1Q20 ($255 million pre-tax); expect to achieve ~80% of run-rate savings by year-end
  • Continue to realize desired MB employee and client outcomes

 

 

 

 

 

 

 

 

 

Key Financial Data

 

 

 

 

 

 

 

 

 

$ millions for all balance sheet and income statement items

 

 

3Q19

2Q19

3Q18

 

 

 

 

 

 

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