Fifth Third Bancorp Q3 Net Income Rises - Quick Facts

(RTTNews) - Fifth Third Bancorp (FITB) Tuesday said its third-quarter net income increased to $381 million from $340 million in the third quarter of 2014. earnings per share were $0.45, compared to $0.39 last year.

On average, 33 analysts polled by Thomson Reuters expected earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Pre-provision net revenue totaled $671 million in the just concluded quarter. Corporate banking revenues grew 4 percent from a year ago, driven by capital markets fee growth of 17 percent. Analysts expected revenues of $1.51 billion.

Provision for loan and lease losses totaled $156 million in the third quarter of 2015, compared to $71 million last year.

Return on average assets were 1.07 percent, compared to 1.02 percent last year.

Greg Carmichael, President and CEO-elect of Fifth Third Bancorp, said, "Our core businesses continue to produce solid results despite the uncertainties surrounding the domestic and global economic environment."