Breaking News Bar
updated: 1/17/2013 7:19 AM

Fifth Third Bancorp's Profit Increases 27% on Stake in Vantiv

hello
Success - Article sent! close
 
Bloomberg News

Fifth Third Bancorp., Ohio's largest lender, said fourth-quarter profit rose 27 percent as the firm booked a gain on a stake in Vantiv Inc.

Net income jumped to $399 million, or 43 cents a share, from $314 million, or 33 cents, a year earlier, the Cincinnati- based company said today in a statement. That compares with the 41-cent average estimate of 29 analysts surveyed by Bloomberg.

The net interest margin, the difference between what a bank pays on deposits and charges for loans, declined to 3.49 percent from 3.56 percent in the third quarter. The company expects the margin to narrow to between 3.35 percent and 3.4 percent in 2013, according to a presentation on its website.

Share

Interested in reusing this article?

Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.

The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.

Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Name * Company Telephone * E-mail *

Message (optional)

Success - Reprint request sent Click to close
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here