Fifth Third Bancorp (OQ:FITB)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 38 Fountain Square Plaza CINCINNATI OH 45263 |
| Tel: | N/A |
| Website: | https://www.53.com |
| IR: | See website |
| Key People | ||
| Timothy N. Spence Chairman of the Board, President, Chief Executive Officer | Kristine R. Garrett Executive Vice President, Group Regional President, Head - Wealth and Asset Management | Bryan D. Preston Chief Financial Officer, Executive Vice President |
| James C. Leonard Chief Operating Officer, Executive Vice President | Nancy C. Pinckney Chief Human Resource Officer, Executive Vice President | Jude A. Schramm Executive Vice President, Chief Information Officer |
| Melissa S. Stevens Executive Vice President, Chief Marketing Officer | Robert P. Shaffer Executive Vice President, Chief Risk Officer | Mark D. Hazel Executive Vice President, Controller | Susan B. Zaunbrecher Executive Vice President, Chief Legal Officer and Company Secretary |
| Business Overview |
| Fifth Third Bancorp (the Bancorp) is a bank holding company for Fifth Third Bank, National Association (the Bank). It operates three main businesses: Commercial Banking, Consumer and Small Business Banking and Wealth & Asset Management. The Commercial Banking offers credit intermediation, cash management and financial services to large and middle-market businesses and government and professional customers. The Consumer and Small Business Banking segment includes residential mortgage, home equity loans and lines of credit, credit cards, automobile and other indirect lending and other consumer lending activities. Residential mortgage activities include the origination, retention and servicing of residential mortgage loans, sales and securitizations of those loans and all associated hedging activities. The Wealth and Asset Management segment provides a full range of wealth management solutions, such as wealth planning, investment management, banking, insurance, trust and estate services. |
| Financial Overview |
| For the three months ended 31 March 2024, Fifth Third Bancorp interest income increased 18% to $2.61B. Net interest income after loan loss provision decreased 5% to $1.29B. Net income applicable to common stockholders decreased 10% to $480M. Net interest income after loan loss provision reflects Consumer and small Business Banking segment decrease from $1.21B to $0K, Net Interest Margin, Total -% decrease of 13% to 2.86%, Net Interest Spread. |
| Employees: | 18,724 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $43,326M as of Mar 31, 2024 |
| Annual revenue (TTM): | $10,154M as of Mar 31, 2024 |
| EBITDA (TTM): | $3,393M as of Mar 31, 2024 |
| Net annual income (TTM): | $2,158M as of Mar 31, 2024 |
| Free cash flow (TTM): | N/A |
| Net Debt Last Fiscal Year: | $15,761M as of Mar 31, 2024 |
| Shares outstanding: | 683,812,000 as of Mar 31, 2024 |
| Index Membership: | S&P 500 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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