Fifth Third Q2 2020 Earnings Report
Key Takeaways
Fifth Third Bancorp reported a net income of $195 million for the second quarter of 2020, compared to $46 million in the previous quarter and $453 million in the year-ago quarter. Net income available to common shareholders was $163 million, or $0.23 per diluted share.
Pre-provision net revenue up 4% from the prior quarter and up 10% from the year-ago quarter despite continued rate headwinds
Record capital markets revenue
Significant improvement in reported and adjusted efficiency ratio compared to both the prior and year-ago quarter
NCO ratio lower than low end of previous guidance range
Fifth Third
Fifth Third
Fifth Third Revenue by Segment
Forward Guidance
The company expects credit quality to remain relatively stable in the near-term, reflecting disciplined client selection, a decade-long focus on improving credit performance, and proactive risk management actions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income