The parent company of Fifth Third (NASDAQ: FITB) has reported a significant increase in its second-quarter profit, with the primary driver being the benefits from its recent acquisition and integration of Chemical Bank.

The bank posted a net profit of $763 million for the quarter, equivalent to $0.83 per share. This compares to a net profit of $591 million, or $0.88 per share, in the same period last year, when the number of shares outstanding was smaller.

Excluding one-time items, the adjusted earnings per share came in at $1.02. This figure substantially exceeded the consensus analyst estimate of $0.84, according to data compiled by FactSet.

The bank's net interest income surged by 48% to $2.22 billion, a gain attributed to the inclusion of Chemical Bank's operations. The company stated that this growth was driven by organic loan growth, the ongoing repricing of fixed-rate assets, and prudent management of its liabilities.

Non-interest income also saw a strong increase, rising 41% year-over-year to $1.06 billion. All four of its major business segments—wealth and asset management, corporate payments, personal banking, and capital markets—reported double-digit revenue growth.

Non-interest expenses climbed sharply by 67% to $2.11 billion. This rise was primarily due to a 62% increase in employee compensation and benefits costs. Technology and communication expenses nearly doubled, and net occupancy expenses also rose significantly.

In pre-market trading, the company's stock was up 1.6% at $60.29.