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Fifth Third Sees Net Interest Income Rising Less Than Previously Expected

By Allison Prang

 

Fifth Third Bancorp (FITB) now sees a smaller increase in net interest income year over year than it previously expected.

The company said it expects adjusted net interest income on a fully taxable-equivalent basis to increase by about 14% from the year prior. It had been expecting it to rise between 15% and 16%.

Fifth Third expects its adjusted net interest margin on a fully taxable-equivalent basis to rise by about four basis points. It was expecting it to rise by about 7 basis points.

The company expects noninterest income, not including merger-related items, to increase between 17% to 18%. It was expecting it to increase between 15% and 16%.

The regional lender reaffirmed its adjusted noninterest expense guidance. It expects it to rise about 13%.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

October 22, 2019 09:49 ET (13:49 GMT)

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