Fifth Third Bancorp (FITB) saw its earnings jump 14% as the lender’s provisions for loan losses fell, the Wall Street Journal reported.
The journal says the bank benefitted from the improved credit quality of the loans on their books, allowing them to reduce funds that are set aside to write off bad debt.
Fifth Third reported a profit of $385 million, which is up from $337 million a year earlier.
Click here to read more in the WSJ.
