Fifth Third Q4 2022 Earnings Report
Key Takeaways
Fifth Third reported Q4 2022 net income of $737 million, or $1.01 per diluted share. This compares to net income of $653 million in the prior quarter and $662 million in the year-ago quarter. Revenue increased 16% year-over-year, while expenses increased only 1%.
Generated consumer household growth of 2.5% compared to 4Q21
Repurchased shares totaling $100 million
ROTCE of 29.2%; adjusted ROTCE of 19.2% excl. AOCI
Efficiency ratio of 52.6%; adjusted efficiency ratio of 51.6% improved approximately 8 points compared to 4Q21
Fifth Third
Fifth Third
Forward Guidance
While economic visibility remains limited, Fifth Third has spent nearly a decade focused on generating sustainable financial results. As we navigate the environment, we will follow our guiding principles of stability, profitability, and growth – in that order.