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Dec 31, 2024
Fifth Third Q4 2024 Earnings Report
Reported diluted earnings per share of $0.85, driven by growth in loans and fees, and improved net interest margin.
Key Takeaways
Fifth Third Bancorp reported a strong and consistent performance in 2024, with growth in loans, deposits, and fees in Q4. The company's net interest margin expanded, and expense discipline was maintained. Total consumer households surpassed 2.5 million, and 21 new branches were opened in high-growth markets.
Net income available to common shareholders was $582 million, or $0.85 per diluted share.
Net interest income increased 1% sequentially, driven by loan growth and deposit rate management.
Efficiency ratio improved to 56.4%, with an adjusted efficiency ratio of 54.7%.
Wealth and asset management revenue increased 11%, and capital markets fees were up 16% compared to Q4 2023.
Revenue by Segment
Forward Guidance
Fifth Third Bancorp's balance sheet is positioned to continue its strong performance in 2025 through a range of interest rate outcomes. The company remains proactive in managing its credit risk and is committed to generating long-term, sustainable value for its shareholders.
Positive Outlook
- Resilient balance sheet delivers continued positive momentum in net interest income.
- Disciplined expense management.
- Strong fee performance driven by strategic investments.
- Period-end consumer and commercial loans increased.
- Strong profitability allowed the company to return capital to shareholders while increasing capital ratios.
Challenges Ahead
- Risks are well-understood and well-contained.
- The company remains proactive in managing our credit risk.
- Navigate risks, we are committed to generating long-term, sustainable value for our shareholders as we adhere to our guiding principles of stability, profitability, and growth - in that order.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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