Fifth Third Bancorp Reports Retreat In Q1 Income

(RTTNews) - Fifth Third Bancorp (FITB) reported earnings for first quarter that Dropped, from the same period last year

The company's bottom line totaled $128 million, or $0.15 per share. This compares with $478 million, or $0.71 per share, last year.

Fifth Third Bancorp earnings at a glance (GAAP) :

-Earnings: $128 Mln. vs. $478 Mln. last year. -EPS: $0.15 vs. $0.71 last year.

For the first quarter, the company posted a net interest income of $1.934 billion, higher than $1.437 billion in the same period last year. Non-interest income stood at $895 million as against the previous year’s $694 million a year ago.

Earnings were hurt by a higher non-interest expense of $2.395 billion, compared with a non-interest expense of $1.304 billion last year.