NEW YORK (Standard&Poor's) July 19, 2012--Standard&Poor's Ratings Services today said its ratings on Fifth Third Bancorp (BBB/Positive/A-2) are not affected by the company's second-quarter earnings, which we view as good and consistent with our expectations. Fifth Third reported adjusted net income of $349 million, consistent with $348 million in the first quarter and up from $318 million in second-quarter 2011. (These numbers exclude Vantiv-related benefits and charges in each quarter.) Relative to first-quarter 2012, earnings benefited from positive credit leverage, an increase in average loans and leases, and a decrease in operating expenses. However, contraction in its net interest margin (NIM) and lower noninterest income (excluding Vantiv-related charges and benefits) offset these improvements. Net interest income
