Fifth Third Expects Net Interest Income, Net Interest Margin to Fall in 4Q
October 22 2019 - 10:09AM
Dow Jones News
By Allison Prang
Fifth Third Bancorp (FITB) expects its adjusted net interest
income and net interest margin to fall in the fourth quarter
compared with the third quarter.
It expects adjusted net interest income on a fully
taxable-equivalent basis to fall by about 1% compared to the third
quarter.
It expects its adjusted net interest margin on a fully-taxable
equivalent basis to fall between four and five basis points from
the third quarter.
Fifth Third is expecting adjusted noninterest income--not
including merger-related items--to fall by about 4% from the third
quarter.
It expects adjusted noninterest expense to be flat to slightly
lower compared to the third quarter.
The company is expecting fourth-quarter average loans and
leases, including those held for sale, to be "relatively stable"
compared with the third quarter.
The company is expecting its charge-offs to be "generally
consistent" with the third quarter, it said.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 22, 2019 09:54 ET (13:54 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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