Fifth Third Profit Stalls, Loan Losses Grow
Fifth Third Bancorp, a large U.S. Midwest bank, said on Friday that third-quarter profit was little changed, as an increase in loan losses offset growth in fee-related income.
Net income for the Cincinnati-based company fell to $376 million from $377 million a year earlier. Profit per share rose to 71 cents from 68 cents because Fifth Third had fewer shares outstanding.
Shares of Fifth Third were 0.6 percent lower in Frankfurt trading.