Financial Results for Fifth Third Bancorp

Fifth Third Bancorp is pleased to announce their earnings for the first quarter of 2007. They have had increases in almost every area, and have received $0.65 per diluted share. The company is more than pleased with their results, and could not wait to share them.

The company said that they feel these earnings show a solid performance by the company in all areas, and although they know times are tough right now, they are cautiously optimistic that things will continue to go well for the company. They are working on many different initiatives as well as having flexibility with their capital – and these things will carry them through the year.

They had a net interest income of $742 million, which was down $2 million from the fourth quarter of 2006 – but this was not something the company is concerned about. They are showing increases in most areas, and they know that these are small trials right now.

They are still going strong in the auto loan area though. They offer many types of loans – commercial, mortgage, leases, etc. Their auto loans had increased from March of 2006 to December of 2006 by 4% - from 9,440 to 9,834. The car loans then increased again from December 2006 to March 2007 by 8% up to 10,230.
 

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