DBRS confirmed its ratings on Fifth Third Bancorp and Fifth Third Bank, including the long-term issuer ratings of A and A (high), respectively.
The trend on all ratings is stable.
In confirming the ratings, DBRS cited Fifth Third's progress in improving its credit fundamentals. The rating agency said the company lowered its risk profile, optimized its balance sheet, and improved efficiency and core profitability. Profitability should continue to improve as a result of Fifth Third controlling expenses and growing revenues, which will also lead to positive operating leverage generated. The ratings also reflect the company's commercially focused loan portfolio that is less diversified in consumer loan categories compared with some peers, according to DBRS.