Fifth Third Bancorp 3Q Net Profit Rose

By Pietro Lombardi

Fifth Third Bancorp (FITB) on Tuesday reported an increased in net income, supported by growing net interest income and noninterest income.

The regional banking company earned a quarterly profit of $549 million, or 71 cents a share, compared with $436 million, or 61 cents, for the same period last year. This compares with analysts' expectations of 72 cents, according to FactSet.

Net interest income rose to $1.24 billion from $1.04 billion, while noninterest income grew 31% to $740 million

"Our strong third-quarter results reflect the ongoing discipline throughout the bank and the strength of our diversified revenue streams," Chief Executive Greg Carmichael said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

October 22, 2019 06:53 ET (10:53 GMT)

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