What factors influenced FITB's EPS in 2024?

Fifth Third Bancorp's (FITB) EPS was influenced by a combination of factors that impacted its financial performance throughout the year: 1. **Net Interest Income (NII) Challenges**: FITB faced a 10% drop in NII, which fell to $1.42 billion from $1.56 billion year-over-year, primarily due to higher funding costs and a shift in deposit mix. This decline would naturally affect the bottom line, as NII is a key component of the bank's earnings. 2. **Loan Growth and Credit Quality**: The bank experienced sluggish loan growth and higher deposit costs, which pressured margins and contributed to a 30% drop in quarterly profit. Additionally, there were credit concerns and a rise in net charge-offs, which are loans that are unlikely to be repaid. 3. **Noninterest Income Trends**: There was a decline in noninterest income, which fell by 4.3% year-over-year to $695 million, primarily due to lower revenues from commercial banking, mortgage banking, and leasing business. This decline, along with a decrease in private equity gains and reduced demand for commercial customer hedging, contributed to the overall financial performance. 4. **Expense Management and Provisions**: FITB had resilient balance sheet and managed expenses well, which allowed for consistent performance despite the challenges. However, provisions for credit losses were expected to be built up, reflecting a cautious outlook on credit quality and economic conditions. In summary, FITB's EPS in 2024 was influenced by a combination of factors including a decline in NII, challenges in loan growth and credit quality, trends in noninterest income, and careful expense management and provisions.