Financial services company Fifth Third Bancorp (NASDAQ: FITB) on Friday reported results for the second quarter of 2024. There is a decline in net interest income.
- The company reported net income of $601 million for the second quarter, which is unchanged from the year-ago quarter
- Net income available to common shareholders was $561 million or $0.81 per share in Q2, vs. $562 million or $0.82 per share a year earlier
- Q2 net interest income decreased to $1.39 billion from $1.46 billion in the comparable quarter of 2023
- Non-interest income was $695 million in the June quarter, compared to $726 million in the prior year quarter
- Second-quarter book value per share increased to $25.13 from $23.05 in the same period last year
- The company generated consumer household growth of 3% in Q2 compared to 2Q23, including 6% in the Southeast
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