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Stock impact report

UPDATE 1-Fifth Third Bancorp profit beats on higher interest income, loan growth [Reuters (UK)]

Fifth Third Bancorp (FITB) 
Last fifth third bancorp earnings: 4/21 06:30 am Check Earnings Report
US:NASDAQ Investor Relations: ir.53.com/investor-overview
Company Research Source: Reuters
Fifth Third Bancorp profit beats on higher interest income, loan growth | Reuters 2 Min Read (Reuters) - Fifth Third Bancorp’s ( FITB.O ) quarterly profit beat analysts’ estimates on Tuesday, as it earned more from interest-bearing assets and gave out more commercial loans. U.S. banks have benefited from higher interest rates since the Federal Reserve started raising them in 2015. Higher interest rates allow banks to charge customers more for loans, while maintaining relatively low cost of borrowing from deposits. Most regional banks have posted an increase in loans in the latest quarter, even as mortgage lending slowed. Commercial loans have risen the most as businesses borrow more to reduce their cost of borrowing in a rising interest rate environment. Consumer loan growth has been relatively sluggish as higher interest rates reduce borrowers’ ability to take out costly loans. Fifth Third’s net interest income rose 7 percent to $1.05 billion in the quarter, while total commercial Show less Read more
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