Fifth Third Q3 2024 EPS $0.78, down from $0.81 QoQ and $0.91 YoY; net income $573M

FIFTH THIRD BANCORP

2024-Q3 EPS reported $2.28 revenue$467,000,000

Diluted EPS of $0.78, down 4% sequentially and 14% YoY; net income available to common $532M.
Net interest income (FTE) $1,427M, up 2% QoQ; net interest margin 2.90%, up 2 bps.
Noninterest income $711M, up 2% QoQ but down 1% YoY; fee growth driven by wealth management and commercial payments.
Credit provision $160M, up 65% QoQ and 34% YoY; NCO ratio 0.48% (stable QoQ, up 7 bps YoY).
CET1 ratio improved to 10.75%; executed $200M share repurchase and raised common dividend 6%.

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