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Mar 31, 2021
Fifth Third Q1 2021 Earnings Report
Reported strong first quarter results driven by record commercial banking revenue and improved credit results.
Key Takeaways
Fifth Third Bancorp reported a strong first quarter with net income available to common shareholders of $674 million, or $0.93 per diluted share, compared to $29 million, or $0.04 per diluted share, in the year-ago quarter. The results reflect record commercial banking revenue, continued momentum in household growth, a strong underlying net interest margin, and historically low net charge-offs.
Returned $180 million to shareholders through repurchases; capacity to repurchase up to $347 million in 2Q21
ROTCE of 16.8%; adjusted ROTCE of 19.8% excl. AOCI improved 150 bps sequentially
Produced record commercial banking revenue
Generated consumer household growth of 3% compared to 1Q20
Revenue by Segment
Forward Guidance
Fifth Third anticipates benefiting from an improving economic environment, including higher interest rates and a more vibrant economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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