Category: News

Fifth Third FY Net Income More Than Doubles

Fifth Third said fourth-quarter and full-year 2011 net income was $305 million and $1.1 billion, respectively up from $270 million and $503 million for the same periods in 2010. The bank also noted continuing improvement in credit trends.

CFO: Companies Awash in Credit, Too writer Vincent Ryan reported a large refinancing wave in the final quarter of 2011 led to an 80% jump in revolving lines of credit issued last year spurred by uncertainty in the banking industry and concerns over the crisis in Europe.