Fifth Third Bancorp reported Q1/16 net income, after preferred dividends, was $312 million compared to $346 million in Q1/15.
The following highlights were excerpted from the news release:
“First quarter results were strong despite significant market volatility,” said Greg D. Carmichael, president and CEO of Fifth Third Bancorp. “Our net interest income increased from the fourth quarter, reflecting the benefit of the Fed’s December rate hike on loan yields. In addition, we had very strong results this quarter in our fee generating businesses. At the same time the results also highlight our focus on expense management. We remain cautious about the economic outlook and are continuing to look to drive better near term performance without relying on higher interest rates.”
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