October 23, 2018 / 10:46 AM / a month ago

Fifth Third Bancorp profit slumps 58 percent

Oct 23 (Reuters) - Fifth Third Bancorp reported a 58 percent decline in quarterly profit on Tuesday, as provisions for bad loans and expenses jumped.

Net income attributable to common shareholders fell to $418 million, or 61 cents per share, in the third quarter ended September, from $999 million, or $1.35 per share, a year earlier. reut.rs/2AnyaY8

Analysts on average had expected a profit of 63 cents per share, according to Refinitiv data. It was not immediately clear if the numbers were comparable.

Reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila

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