Fifth Third Announces Third Quarter 2020 Results
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Fifth Third Bancorp (FITB) Tops Q3 EPS by 18c
October 22, 2020 6:34 AM EDTFifth Third Bancorp (NASDAQ: FITB) reported Q3 EPS of $0.78, $0.18 better than the analyst estimate of $0.60.
Key Highlights
Very strong reported and adjusted return metrics, reflecting strong operating resultsCredit losses well below previous expectations with a NCO ratio of 0.35%, the lowest level since 2Q19PPNR(a) exceeded previous guidance, led by strong fees and better-than-expected NII performance (interest-bearing core deposit costs down 14 bps, more than previous guidance)3Q20 NIM was negatively impacted ~48 bps... More