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Fifth Third Bank posts $421 million profit

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According to The Plain Dealer, Fifth Third Bank’s (FITB) third-quarter profit climbed to $421 million, or 47 cents a share, compared to $354 million, or 38 cents a share, a year ago.

The results included an after-tax gain of $55 million or 6 cents on the sale of shares in the payment company Vantiv.

Loan losses fell 3% to $109 million, or 0.49 percent of loans, and seriously delinquent loans were $1 billion, a decline $140 million or 12 percent.

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