Cincinnati-based Fifth Third Bancorp became the latest U.S. bank to flex its second-quarter earnings muscle Friday by posting an increase in net income of $192 million, up by 7%.

Excluding special charges and adjusting for a three-for-two stock split on June 20, Fifth Third's operating earnings per share were 46 cents, in line with estimates. The $45 billion-asset bank, the fifth among the biggest banks to release earnings for the quarter, kept unbroken a string of profit reports from the major banks that have either matched or exceeded estimates.

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