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Fifth Third Bancorp estimates medium-term NIM of ~3%

  • In its latest Barclays conference, Fifth Third Bancorp (FITB +5.8%) continues to expect medium-term NIM of ~3% excluding PPP and impact of excess cash compared to historical average.
  • A quick look at the company's net interest income in the past few quarters:

  • Also, it sees continued growth in cash position expected to further pressure NIM in excess of 10 bps in Q3 vs. Q2 (no impact on NII).
  • The bank's significant Accumulated other comprehensive income (AOCI) position indicates strategic decisions from securities and cash flow hedge portfolios:

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