SunTrust Banks' profit rises 12 pct on higher interest rates

Oct 20 (Reuters) - U.S. regional lender SunTrust Banks Inc's profit rose 12 percent in the third quarter, as interest rate hikes by the Federal Reserve drove higher net interest income.

The Atlanta-based bank said on Friday net income available to its common shareholders climbed to $512 million in the quarter ended Sept. 30, from $457 million a year earlier.

Earnings per share rose to $1.06 from 91 cents. (Reporting by Roopal Verma in Bengaluru; Editing by Sai Sachin Ravikumar)