Fifth Third says preliminary stress capital buffer 3.2%

Fifth Third Bancorp released its preliminary stress capital buffer requirement resulting from the Federal Reserve Board’s annual bank stress test. Fifth Third’s preliminary stress capital buffer under the FRB severely adverse scenario is 3.2%, effective October 1, 2024. Fifth Third’s Common Equity Tier 1 ratio at March 31, 2024 of 10.5% significantly exceeds the regulatory minimum of 4.5% plus the stress capital buffer, reflecting strong capital levels. In September, Fifth Third intends to recommend to its Board of Directors a 2 cent per share increase to the quarterly cash dividend on its common stock, consistent with its planned capital actions submitted to the Federal Reserve. Additionally, Fifth Third may elect to repurchase shares consistent with its publicly stated CET1 target of 10.5%. All future capital actions are subject to evaluation of Fifth Third’s performance, the state of the economic environment, market conditions, regulatory factors, other risks and uncertainties, and approval by the Board of Directors.