(RTTNews) – Regional bank Fifth Third Bancorp (FITB) on Friday reported higher second-quarter earnings, primarily driven by growth in net interest income and noninterest income.
Net income available to common shareholders was $763 million or $0.83 per share compared with $591 million or $0.88 per share a year ago. Excluding one-time items, adjusted earnings were $1.02 per share.
Net interest income rose 48% to $2.22 billion from $1.50 billion a year ago. Noninterest income increased 41% to $1.059 billion from $750 million.
Provision for credit losses was $129 million, down from $173 million a year ago.
Fifth Third Bancorp shares rose nearly 2% in pre-market trading after closing at $59.37 on Thursday.
