Fifth Third Bank profits climb as interest income surges

The Cincinnati-based bank reported net interest income of $2.22 billion, marking a 48% increase compared to the previous year. This growth reflects a broader trend among regional lenders, which have successfully stabilized funding costs while capitalizing on resilient client activity. Average portfolio loans and leases also expanded, reaching $177.57 billion against $123.07 billion a year ago.

Diversification into advisory services provided a substantial secondary engine for growth. Capital markets fees climbed 71% to $154 million, while wealth and asset management revenue rose 54% to $256 million. These gains align with a wider market rebound in dealmaking, with global mergers and acquisitions activity exceeding $3 trillion this year. Looking forward, the bank projects annual net interest income to land between $8.74 billion and $8.80 billion.