Fifth Third (FITB) Thrives on Organic Growth Amid Cost Woes

Fifth Third has been focused on treasury management and wealth and asset management business in the past few quarters to bolster its non-interest income, which is less volatile compared with spread income. Although the metric declined 0.6% in 2022, it grew in 2021, 2023 and the first quarter of 2024. This was primarily driven by strategic investments. FITB is also undertaking efforts to increase non-interest income through new collaboration. In May 2024, in collaboration with Bottomline, the company launche ...