Earnings Summary: Highlights of Fifth Third Bancorp’s (FITB) Q3 2024 report

Fifth Third Bancorp (NASDAQ: FITB) announced financial results for the third quarter of 2024, reporting a decline in earnings.

• The company reported net income available to shareholders of $532 million for the third quarter, down 15% year-over-year
• On a per-share basis, September-quarter earnings dropped to $0.78 from $0.91 in Q3 2023
• Tangible book value per share rose sharply to $20.20 in Q3 from $13.76 in the same period last year
• Q3 net interest income edged down to $1.42 billion from $1.45 billion in the comparable quarter of 2023
• Non-interest income was $711 million in the September quarter, compared to $715 million in the prior year quarter
• Third-quarter average deposits increased to $167.2 billion from $165.6 billion in the same period last year
• The company generated consumer household growth of 3% in Q3 compared to 3Q23