Fifth Third logs recovery on NCOs, 24% YoY growth in auto in Q3

The bank will roll out an AI-driven digital assistant in Q4

Photographer: Christopher Dilts/Bloomberg

Fifth Third Bank posted positive recoveries in the third quarter, driven by its auto portfolio, which continues to prop up the bank’s overall consumer book. The bank logged a 0.02% recovery rate on net charge-offs for indirect secured consumer loans, primarily indirect auto loans, following a net charge-off rate of 0.01% in the second quarter, […]

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