Fifth Third Bancorp said its net income available to common shareholders for 2024 was $2.2 billion, or $3.14 per diluted share, net of $159 million in preferred stock dividends. For 2023, net income available to common shareholders was $2.2 billion, or $3.22 per diluted share.

1. 01

   Fifth Third Bancorp said its net income available to common shareholders for 2024 was $2.2 billion, or $3.14 per diluted share, net of $159 million in preferred stock dividends. For 2023, net income available to common shareholders was $2.2 billion, or $3.22 per diluted share.

2. 02

   The company said net interest income on an FTE basis (non-GAAP) for 2024 was $5.7 billion, decreasing $198 million compared to the prior year, and net interest margin was 2.90% for 2023 compared to 3.05% in the prior year. It cited higher funding costs and deposit balance migration into higher yielding products as factors affecting net interest income.

3. 03

   Fifth Third said the provision for credit losses for 2024 was $530 million compared to $515 million in the prior year, and the net charge-off ratio was 0.45% for 2023 compared to 0.32% in the prior year. At 2024, the nonperforming portfolio assets ratio was 0.71% compared to 0.59% at 2023.

4. 04

   The company said it entered into and settled accelerated share repurchase transactions totaling $625 million during 2024 and issued and sold $1.0 billion of fixed-rate/floating-rate senior notes in January and $750 million of fixed-rate/floating-rate senior notes in September.

Key figures

Fiscal year ended December 31, 2024

Revenue

$10.4B

Net income

$2.3B

EPS

$3.14

Operating cash flow

$2.8B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.