Saturday, Oct 01, 2016
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Economy

Fifth Third to double loan-loss provision

CINCINNATI Fifth Third Bancorp said yesterday it plans to set aside $275 million in the fourth quarter to cover loan losses, more than double its provision in the same quarter last year, citing weaker performance of home equity loans and commercial mortgages.

In a regulatory filing, it said it expects fourth-quarter earnings of about 24 cents to 27 cents a share, missing the 66-cent average estimate for 17 analysts surveyed by Bloomberg.

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