Fifth Third updates guidance

|About: Fifth Third Bancorp (FITB)|By:, SA News Editor

Fifth Third Bancorp (FITB +1%) sees "modest growth" from 2013's net interest income of $3.58B, with net interest margin slipping to around 3.15% from 3.32% for all of last year, and 3.21% in Q4.

Noninterest income (was $2.7B in 2013) is guided to lower my mid-to-high single digits thanks to the continued slide in mortgage action. Noninterest expense is expected to be down mid-single digits from 2013's $3.95B.

Net charge offs should fall about $40M (to 0.50% of loans) from $501M (0.58%).

The tier 1 common equity ratio is expected to remain at 9.39%.

The numbers are part of the materials for the bank's presentation tomorrow at a Barclays conference.