Fifth Third Bancorp profit rises on Vantiv sale gain

Thu Jan 17, 2013 6:42am EST

Jan 17 (Reuters) - U.S. regional bank Fifth Third Bancorp posted a higher quarterly profit on a gain from the sale of its shares in payment processor Vantiv Inc.

Net income available to common shareholders rose to $390 million, or 43 cents per share, for the fourth quarter from $305 million, or 33 cents per share, a year earlier.

The bank realized a pretax gain of $157 million in the quarter from the sale of its shares in Vantiv.

Vantiv, which went public in March last year, is owned by the bank and private equity firm Advent International.

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