Fifth Third Expects Net Interest Income, Net Interest Margin to Fall in 4Q

Date : 10/22/2019 @ 3:09PM
Source : Dow Jones News
Stock : Fifth Third Bancorp (FITB)
Quote : 15.86  0.39 (2.52%) @ 11:14PM
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Fifth Third Expects Net Interest Income, Net Interest Margin to Fall in 4Q

Fifth Third Bancorp (NASDAQ:FITB)
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   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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