CINCINNATI Vantiv, which process cards transactions for more than 800 credit unions, yesterday reported its fourth quarter net income soared 45% to $57.5 million, based on a 20% increase in transaction volume for the period.
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The company, formerly known as Fifth Third Processing Solutions, reported a 13% increase in fourth quarter revenue to $494.1 million.
For the full year Vantiv, which went public a year ago, reported a 15% increase in revenue to $1.86 billion and a 31% rise in net income to $110.7 million.
