Fifth Third keeps CET1 ratio in close range of 10.5% targeted level

By Devika Patel

Knoxville, Tenn., April 22 – Fifth Third Bancorp recorded a CET1 ratio of 10.44% at the end of the last quarter. Management believes that a ratio of 10.5% is the appropriate near-term level for the Cincinnati-based diversified financial services company.

“We ended the quarter with a CET1 ratio of 10.44% and we continue to believe that 10.5% is an appropriate near-term operating level,” executive vice president and chief financial officer Bryan Preston said on the company’s first quarter ended March 31 earnings conference call on April 19.

“Our consistent and strong earnings added 15 basis points to CET1 during the quarter inclusive of absorbing 8 basis points impact from the CECL phase in,” he said.

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