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Sep 30, 2020
Fifth Third Q3 2020 Earnings Report
Reported strong Q3 2020 results with diluted earnings per share of $0.78.
Key Takeaways
Fifth Third Bancorp reported a net income of $581 million for Q3 2020, a significant increase compared to the previous quarter's $195 million and a 6% increase year-over-year. Diluted earnings per share were reported at $0.78, up from $0.23 in the prior quarter and $0.71 in the year-ago quarter.
Very strong reported and adjusted return metrics, reflecting strong operating results
Credit losses well below previous expectations with a NCO ratio of 0.35%, the lowest level since 2Q19
PPNR exceeded previous guidance, led by strong fees and better-than-expected NII performance
Strong balance sheet; CET1 ratio of 10.14% well above target range, with record balance sheet liquidity
Fifth Third
Fifth Third
Fifth Third Revenue by Segment
Revenue by Segment
Commercial banking Revenue
CapyFin.com Forward Guidance
Given the anticipated revenue headwinds, we are very focused on optimizing our expense base to maintain healthy levels of returns.