<PAGE>                                   
                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549
                                   
                                   
                               FORM 10-Q
                                   
                                   
         Quarterly Report Pursuant to Section 13 or 15 (d) of
                  the Securities Exchange Act of 1934
                                   
For the Quarterly Period Ended                       Commission File
June 30, 1998                                             No. 1-8019


     P R O V I D E N T   F I N A N C I A L   G R O U P ,   I N C .
                                   
                                   
                                   
Incorporated under                                 IRS Employer I.D.
the Laws of Ohio                                      No. 31-0982792


            One East Fourth Street, Cincinnati, Ohio  45202
                         Phone:  513-579-2000
                                   
                                   
Indicate  by  check  mark whether the registrant  (1)  has  filed  all
reports  required to be filed by Section 13 or 15(d) of the Securities
Exchange  Act  of  1934 during the preceding 12 months  (or  for  such
shorter period that the registrant was required to file such reports),
and  (2) has been subject to such filing requirements for the past  90
days.

                      Yes    X         No ______
                                   
                                   
Indicate  the  number of shares outstanding of each  of  the  issuer's
classes  of  common stock, as of the latest practicable date:   Common
stock, without par value, outstanding at July 31, 1998 is 43,232,212.


                 Please address all correspondence to:
                                   
                          John R. Farrenkopf
              Vice President and Chief Financial Officer
                    Provident Financial Group, Inc.
                        One East Fourth Street
                        Cincinnati, Ohio  45202
                                   
                                - 1 -   
<PAGE>
                PART I.  FINANCIAL INFORMATION
<TABLE>
ITEM 1.  FINANCIAL STATEMENTS

                   PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
                             CONSOLIDATED BALANCE SHEETS
                                (Dollars in Thousands)
<CAPTION>
                                                                June 30,    December 31,
                                                                  1998          1997
                                                               (Unaudited)
<S>                                                            <C>          <C>
                            ASSETS
Cash and Noninterest Bearing Deposits                             $225,541      $274,521
Federal Funds Sold and Reverse Repurchase Agreements                34,000         1,720
Trading Account Securities                                          59,794             -
Investment Securities Available for Sale
  (amortized cost - $1,522,877 and $1,371,303)                   1,520,276     1,371,507
Loans and Leases (Net of Unearned Income):
  Commercial Lending:
    Commercial and Financial                                     3,166,849     2,733,556
    Mortgage                                                       445,120       469,505
    Construction                                                   362,140       305,150
    Lease Financing                                                358,983       340,302
  Consumer Lending:
    Instalment                                                     639,728       624,340
    Residential - Held for Sale                                     99,505       136,183
    Lease Financing                                                515,681       442,806
      Total Loans and Leases                                     5,588,006     5,051,842
  Reserve for Loan and Lease Losses                                (75,472)      (71,980)
      Net Loans and Leases                                       5,512,534     4,979,862
Premises and Equipment                                             202,496       183,854
Other Assets                                                       303,101       312,195
                                                                $7,857,742    $7,123,659

             LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
  Deposits:
    Noninterest Bearing                                           $573,458      $605,166
    Interest Bearing                                             4,208,391     4,091,132
      Total Deposits                                             4,781,849     4,696,298
  Short-Term Debt                                                1,435,657       806,125
  Long-Term Debt                                                   668,101       688,157
  Guaranteed Preferred Beneficial Interests in
    Company's Junior Subordinated Debentures                        98,848        98,817
  Accrued Interest and Other Liabilities                           170,864       197,001
      Total Liabilities                                          7,155,319     6,486,398
Shareholders' Equity:
  Preferred Stock, 5,000,000 Shares Authorized,
    Series D, 70,272 Issued                                          7,000         7,000
  Common Stock, No Par Value, 110,000,000 Shares
    Authorized, 43,226,937 and 42,325,882 Issued                    12,744        12,482
  Capital Surplus                                                  218,541       196,617
  Retained Earnings                                                465,829       417,360
  Reserve for Retirement of Capital Securities                           -         3,667
  Unrealized Gains (Losses) on Marketable Securities
    (net of deferred income taxes)                                  (1,691)          135
      Total Shareholders' Equity                                   702,423       637,261
                                                                $7,857,742    $7,123,659
</TABLE>
                                - 2 -
<PAGE>
<TABLE>
                        PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
                              CONSOLIDATED STATEMENTS OF EARNINGS
                                          (Unaudited)
                            (In Thousands, Except Per Share Amounts)
<CAPTION>
                                                    Three Months Ended    Six Months Ended
                                                         June 30,              June 30,
                                                     1998       1997       1998       1997
<S>                                                <C>        <C>        <C>        <C>
Interest Income:
  Interest and Fees on Loans and Leases            $127,346   $121,839   $250,488   $241,540
  Interest on Investment Securities:
    Taxable                                          26,374     19,901     49,023     37,215
    Exempt From Federal Income Taxes                     35         72        143        127
                                                     26,409     19,973     49,166     37,342
  Other Interest Income                                 944        424      1,831        640
      Total Interest Income                         154,699    142,236    301,485    279,522
Interest Expense:
  Interest on Deposits:
    Savings and Demand Deposits                      12,429      5,461     23,227     10,250
    Time Deposits                                    42,811     50,635     86,699     97,679
      Total Interest on Deposits                     55,240     56,096    109,926    107,929
  Interest on Short-Term Debt                        18,306      8,084     31,192     15,735
  Interest on Long-Term Debt                         10,761     10,344     21,533     22,447
  Interest on Junior Subordinated Debentures          2,165      2,165      4,331      4,331
      Total Interest Expense                         86,472     76,689    166,982    150,442
        Net Interest Income                          68,227     65,547    134,503    129,080
Provision for Loan and Lease Losses                   5,000     15,000     10,000     26,000
  Net Interest Income After Provision
    for Loan and Lease Losses                        63,227     50,547    124,503    103,080
Noninterest Income:
  Service Charges on Deposit Accounts                 6,789      6,329     13,201     11,907
  Other Service Charges and Fees                     13,843     10,373     28,801     19,606
  Operating Lease Income                              9,405      6,405     18,459     11,999
  Gain on Sales of Loans and Leases                  21,023     18,800     34,549     33,708
  Security Gains                                      2,024      1,030      5,716      3,253
  Other                                               3,747      3,857      5,810      6,865
    Total Noninterest Income                         56,831     46,794    106,536     87,338
Noninterest Expense:
  Compensation:
    Salaries                                         26,722     19,728     50,123     38,457
    Benefits                                          3,661      3,035      8,309      6,474
    Profit Sharing                                    1,186      1,608      2,474      3,167
  Depreciation on Operating Lease Equipment           5,242      4,409     10,524      8,161
  Occupancy                                           4,104      2,700      7,911      5,346
  Equipment Expense                                   4,783      3,618      9,014      6,885
  Professional Fees                                   4,341      3,681      8,314      6,729
  Charges and Fees                                    3,607      3,002      6,001      6,435
  Marketing                                           3,017      1,841      5,324      3,883
  Other                                              14,241     10,239     27,541     19,346
    Total Noninterest Expense                        70,904     53,861    135,535    104,883

Earnings Before Income Taxes                         49,154     43,480     95,504     85,535
Applicable Income Taxes                              17,154     15,280     33,104     30,028
  Net Earnings                                      $32,000    $28,200    $62,400    $55,507

Net Earnings Per Common Share:
  Basic                                                $.74       $.69      $1.45      $1.36
  Diluted                                               .71        .65       1.39       1.28
Average Basic Shares                                 43,018     40,799     42,817     40,704
Average Diluted Shares                               45,165     43,392     44,995     43,293
</TABLE>
                                - 3 -
<PAGE>
<TABLE>
                                    PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
                              CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                                                      (Unaudited)
                                                    (In Thousands)
<CAPTION>
                                                                       Reserve for    Unrealized
                                                                        Retirement  Gains (Losses)
                            Preferred   Common    Capital    Retained   of Capital   on Marketable   Comprehensive
                              Stock      Stock    Surplus    Earnings   Securities    Securities         Income
<S>                         <C>         <C>       <C>        <C>       <C>          <C>              <C>
Balance at January 1, 1997     $7,000   $11,973   $160,586   $326,599       $6,667          $3,980

  Net Earnings                                                 55,507                                      $55,507
  Dividends Paid on:
    Preferred Stock                                              (316)
    Common Stock                                              (13,050)
  Allocation for Retirement
    of Capital Securities                                        (666)         666
  Retirement of Capital
    Securities                                                  4,000       (4,000)
  Exercise of Stock Options                  82      5,281
  Acquisition                                55      7,097
  Change in Unrealized
    Gains (Losses) on
    Marketable Securities                                                                   (2,367)         (2,367)
  Other                                                             9

Balance at June 30, 1997       $7,000   $12,110   $172,964   $372,083       $3,333          $1,613         $53,140



Balance at January 1, 1998     $7,000   $12,482   $196,617   $417,360       $3,667            $135

  Net Earnings                                                 62,400                                      $62,400
  Dividends Paid on:
    Preferred Stock                                              (395)
    Common Stock                                              (17,203)
  Allocation for Retirement
    of Capital Securities                                        (333)         333
  Retirement of Capital
    Securities                                                  4,000       (4,000)
  Exercise of Stock Options                 262     21,924
  Change in Unrealized
    Gains (Losses) on
    Marketable Securities                                                                   (1,826)         (1,826)

Balance at June 30, 1998       $7,000   $12,744   $218,541   $465,829           $-         ($1,691)        $60,574
</TABLE>
                                - 4 -
<PAGE>
<TABLE>

                            PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
                                  CONSOLIDATED STATEMENTS OF CASH FLOWS
                                               (Unaudited)
                                             (In Thousands)
<CAPTION>
                                                                      Six Months Ended June 30,
                                                                       1998               1997
<S>                                                                <C>               <C>     
Operating Activities:
  Net Earnings                                                        $62,400           $55,507
  Adjustments to Reconcile Net Earnings to
    Net Cash Provided by Operating Activities:
      Provision for Loan and Lease Losses                              10,000            26,000
      Amortization of Goodwill                                            869               814
      Amortization of Unearned Income and Other                       (35,722)          (36,362)
      Depreciation of Premises and Equipment                           17,713            13,520
      Realized Investment Security Gains                               (5,716)           (3,253)
      Proceeds from Sale of Loans Held for Sale                       575,951           677,833
      Origination of Loans Held for Sale                             (559,619)         (379,470)
      Realized Gains on Loans Held for Sale                           (22,038)          (31,427)
      Realized Gains on Sale of Other Loans and Leases                (12,511)           (2,281)
      Increase in Trading Account Securities                          (59,794)                -
      Increase in Interest Receivable                                  (1,166)             (372)
      (Increase) Decrease in Other Assets                               9,391            (9,663)
      Increase in Interest Payable                                        163               512
      Increase (Decrease) in Other Liabilities                        (22,282)           10,259
        Net Cash Provided By (Used In) Operating Activities           (42,361)          321,617

Investing Activities:
  Investment Securities Available for Sale:
    Proceeds from Sales                                             1,646,600           795,684
    Proceeds from Maturities and Prepayments                          442,355            61,567
    Purchases                                                      (2,191,914)       (1,107,893)
  Net Increase in Loans and Leases                                   (531,491)         (154,121)
  Net Increase in Premises and Equipment                              (36,355)          (21,800)
  Net Cash and Cash Equivalents Received in Acquisition                     -             7,410
    Net Cash Used In Investing Activities                            (670,805)         (419,153)

Financing Activities:
  Net Increase in Deposits                                             85,551            71,487
  Net Increase in Short-Term Debt                                     629,532           187,772
  Principal Payments on Long-Term Debt                                (38,245)         (202,708)
  Proceeds From Issuance of Long-Term Debt                             15,040                 -
  Cash Dividends Paid                                                 (17,598)          (13,366)
  Proceeds from Sale of Common Stock                                   22,186             5,363
  Net Increase in Other Equity Items                                        -                 9
    Net Cash Provided By Financing Activities                         696,466            48,557
      Decrease in Cash and Cash Equivalents                           (16,700)          (48,979)
  Cash and Cash Equivalents at Beginning of Period                    276,241           278,747
    Cash and Cash Equivalents at End of Period                       $259,541          $229,768

Supplemental Disclosures of Cash Flow Information:
  Cash Paid for:
    Interest                                                         $166,044          $149,929
    Income Taxes                                                       22,000            15,000
  Non-Cash Activity:
    Transfer of Loans and Premises and Equipment to
      Other Real Estate                                                   932             9,338
    Residual Interest Securities Created from the
      Sale of Loans                                                    42,384            37,072
    Common Stock Issued To Acquire Business                                 -             7,152
</TABLE>
                                - 5 -
<PAGE>
           PROVIDENT FINANCIAL GROUP, INC. AND SUBSIDIARIES
              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   

In  the opinion of management, the accompanying unaudited consolidated
financial  statements  contain  all adjustments  (consisting  of  only
normal  recurring  accruals)  necessary  for  fair  presentation.  The
results   of  operations  for  interim  periods  are  not  necessarily
indicative of the results to be expected for the full year.

The   financial  statements  presented  herein  should  be   read   in
conjunction  with the financial statements and notes thereto  included
in  Provident Financial Group, Inc.'s 1997 annual report on Form  10-K
filed with the Securities and Exchange Commission.

Basis of Presentation

The   consolidated  financial  statements  include  the  accounts   of
Provident Financial Group, Inc. and its subsidiaries, all of which are
wholly  owned. All significant intercompany balances and  transactions
have  been  eliminated. Certain reclassifications have  been  made  to
conform to the current year presentation.

The accompanying financial statements have been prepared in accordance
with  the  instructions to Form 10-Q and therefore do not include  all
information and footnotes necessary to be in conformity with generally
accepted accounting principles.

Statement  of  Financial  Accounting  Standards  No.  130,  "Reporting
Comprehensive  Income"  establishes standards  for  the  reporting  of
comprehensive income and its components. Comprehensive income includes
net  income  and  certain items that are reported  directly  within  a
separate component of stockholders' equity and bypass net income.  The
provisions  of this SFAS became effective with 1998 interim  reporting
and  is  disclosed within the Consolidated Statements  of  Changes  in
Shareholders' Equity. Implementation of this statement had  no  impact
on  net  earnings  or shareholders' equity. Prior  periods  have  been
restated to conform to the current presentation.

Guaranteed   Preferred  Beneficial  Interests  in   Company's   Junior
Subordinated Debentures

In  1996,  Provident Financial established Provident Capital Trust  I.
Provident  Capital issued $100 million of preferred Capital Securities
to  the  public  and  $3.1 million of common to  Provident  Financial.
Proceeds from the issuance of the capital securities were invested  in
Provident Financial's 8.60% Junior Subordinated Debentures, due  2026.
Taken together, Provident Financial's obligations under the Guarantee,
the  Declaration, the Indenture and the Debentures provide a full  and
unconditional  guarantee of the Capital Securities.  The  sole  assets
(excluding interest receivable on the Debentures, prepaid expenses and
receivables) of Provident Capital are the Debentures.

                                - 6 -
<PAGE>
Provident Auto Leasing Company

In  January  1997, Provident Financial formed Provident  Auto  Leasing
Company,  a  Delaware  business trust, as a  subsidiary  of  Provident
Commercial  Group,  Inc.  Provident Auto  was  created  to  avoid  the
administrative difficulty and expense associated with retitling leased
vehicles  in  connection with the financing or transfer of  beneficial
ownership  of  automobile  and light duty trucks  subject  to  leases.
Provident  Auto  is a separate legal entity from Provident  Commercial
and  each  maintains separate books and records with  respect  to  its
assets  and liabilities. As of June 30, 1998 Provident Auto had  total
assets  of $176.2 million. These assets are not available to creditors
of  Provident  Commercial  to  secure any  indebtedness  of  Provident
Commercial,  or  otherwise  to satisfy the claims  of  such  creditors
against Provident Commercial.

Stock Options

Options to purchase 360,050 shares of Provident Financial Common Stock
were  granted  during the first six months of 1998. The  options  have
exercise prices ranging from $44.12 to $54.47.

Off-Balance Sheet Financial Agreements

In  the  normal course of business, Provident Financial  uses  various
financial  instruments  with off-balance  sheet  risk  to  manage  its
interest  rate risk and to meet the financing needs of its  customers.
At  June  30,  1998, these off-balance sheet instruments consisted  of
standby  letters  of credit of $143.4 million, commitments  to  extend
credit  of $2.2 billion and interest rate swaps with a notional amount
of $1.6 billion.


Item  2.   Management's Discussion and Analysis of Financial Condition
and Results of Operations

Results of Operations

Summary

Provident Financial's net earnings for the second quarter of 1998 were
$32.0  million  compared to $28.2 million for the  second  quarter  of
1997.  Net interest income increased by $2.7 million, or 4%, over  the
comparable period in 1997. The provision for loan and lease losses was
$5.0  million, a decrease of $10.0 million from the second quarter  in
1997. Noninterest income increased $10.0 million, or 21%, primarily in
the  other  service  charges  and  fees  and  operating  lease  income
categories.  Noninterest  expense increased  $17.0  million,  or  32%,
primarily as a result of the continued expansion of Provident Consumer
Financial  Services  and  Information Leasing  Corporation,  and  data
processing expense associated with Year 2000 compliance.

                                - 7 -
<PAGE>
For  the  first six months of 1998, Provident Financial's net earnings
were $62.4 million, an increase of $6.9 million, or 12%, over the same
period during 1997. Interest income increased by $22.0 million,  which
more  than offset the $16.5 million increase in interest expense.  The
provision for loan and lease losses decreased $16.0 million  from  the
same  period during 1997. Noninterest income increased $19.2  million,
or 22%, while noninterest expense increased $30.7 million, or 29%. The
explanations  for the increase in noninterest income and  expense  are
the same as those noted in the above quarterly comparisons paragraph.

The  following ratios compare Provident Financial's annualized returns
on  average assets and average equity for the first six months of 1998
to the year 1997:
<TABLE>
<CAPTION>
                                                  Six Months Ended      Year Ended
                                                  June 30, 1998(1)   December 31, 1997
<S>                                               <C>                <C>
  Net Earnings to Average Assets                          1.65%              1.67%
  Net Earnings to Average Shareholders' Equity           18.64%             20.32%
<FN>
  (1)  Net earnings for the six months ended June 30, 1998 have been annualized.
</TABLE>

The   ratio   of   noninterest  expense  to  tax  equivalent   revenue
("efficiency  ratio")  was  57.6% for the first  six  months  of  1998
compared  to  49.2% for the first six months of 1997. For purposes  of
calculating  the efficiency ratio, noninterest expense  excludes  non-
recurring expenses. Tax equivalent revenue includes tax equivalent net
interest  income  and  noninterest income but  excludes  non-recurring
income and security gains or losses.

The efficiency ratio has deteriorated over the past twelve months.  As
a  result,  Management will be taking initiatives to reduce  operating
expenses.  Free  Markets  Partner, a database  marketing  division  of
Provident  Bank,  will  be downsized and integrated  into  the  Bank's
retail   division.   The   MeritValu  program   will   be   refocused,
concentrating  its  efforts  in  the  greater  Cincinnati  market  and
developing  alternative  products for  its  technology.  The  national
conforming  mortgage  division  is changing  its  focus  to  Provident
Financial's  regional  markets only, as revenues  are  not  supporting
expenses  being  incurred. Nine supermarket branches which  overlapped
traditional  branches will be closed. In addition, a  consulting  firm
has  been  employed  to reduce costs, increase fee  income,  otherwise
enhance  earnings  through  such means as improved  float  management,
liquidity, compensation balances and working capital, and to  redeploy
resources to enhance revenues.

Nonperforming  assets  as  of June 30, 1998  were  $70.4  million,  an
increase of $11.2 million compared to December 31, 1997. The ratio  of
nonperforming  assets  to total loans, leases and  other  real  estate
owned  was  1.26% at June 30, 1998, compared to 1.17% at December  31,
1997.

                                - 8 -
<PAGE>
Net Interest Income

See  Table  1  for net interest income on a tax equivalent  basis  and
Table  2  for  consolidated average balances, average  rates  and  net
interest margin.

Net  interest income on a tax equivalent basis increased approximately
$5.4  million  for  the first six months of 1998 over  the  comparable
period  in  1997. This increase resulted from a $9.1 million  increase
due  to  changes  in  volume  more than offsetting  the  $3.7  million
decrease  which  was  caused by changes in rates. Volume  changes  are
caused  by changes in the average balances of interest earning  assets
and  interest bearing liabilities. The net interest margin  was  3.89%
for  the  first  six  months  of 1998 as compared  to  4.05%  for  the
comparable period in 1997. This decrease reflects the increase in  the
average  rate  paid on interest bearing liabilities of 4 basis  points
and  the  decrease  in the average rate received on  interest  earning
assets  of  6  basis  points. The increase  in  Provident  Financial's
overall rate on interest bearing liabilities was due primarily to  the
increase  in  the  rate  paid on Premium Index savings  deposits.  The
decrease  in the average rate received on interest earning assets  was
due primarily to holding a higher level of investment securities which
receive  a lower average interest rate than most other earning assets.
Interest  rate  swaps increased the net interest margin  by  12  basis
points  and  22 basis points during the first six months of  1998  and
1997, respectively.

In  preparing the net interest margin tables, nonaccrual loan balances
are  included  in  the  average balances for loans  and  leases.  Fees
included  in  interest and fees on loans and leases  are  as  follows:
second  quarter  1998  -  $4.2 million, second  quarter  1997  -  $3.9
million,  year-to-date 1998 - $8.4 million, and  year-to-date  1997  -
$8.2 million.

Provision for Loan and Lease Losses

The  provision  for loan and lease losses was $5.0 million  and  $15.0
million during the second quarter of 1998 and 1997, respectively,  and
$10.0  million and $26.0 million during the first six months  of  1998
and  1997,  respectively. The decrease in the provision was  primarily
the  result  of  lower net charge-offs incurred during the  first  six
months of 1998 as compared to the first six months of 1997.

                                - 9 -
<PAGE>
Noninterest Income

Second Quarter 1998 Compared to Second Quarter 1997

Noninterest  income increased $10.0 million during the second  quarter
of  1998  compared  to the same quarter in 1997.  Service  charges  on
deposit  accounts  increased primarily as a result of  increased  fees
received  on  demand deposit accounts and ATM usage. The  increase  in
other  service  charges and fees were from gains and fees  related  to
commercial  lending, mortgage loan servicing and brokerage operations.
The growth in operating lease income is the result of the expansion of
Provident  Commercial and Information Leasing lines of  business,  and
the  excess  rental income received over that paid on leased  vehicles
which  were sold and subsequently leased back. Gain on sales of  loans
and  leases  increased primarily as a result of the sale of  equipment
which  was  being leased by Provident Commercial. Security gains  were
recognized primarily from the sale of mortgage-backed securities.

Six  Months Ended June 30, 1998 Compared to Six Months Ended June  30,
1997

Noninterest income increased $19.2 million during the first six months
of  1998  compared  to  the same period in 1997.  Service  charges  on
deposit  accounts,  other service charges and  fees,  operating  lease
income and security gains increased for the same reasons given in  the
quarterly  comparison. The decrease in other income  was  due  to  the
receipt of additional consideration in 1997 relating to a restructured
loan.

Since  the  third  quarter of 1996, it has been Provident  Financial's
policy   to  sell  its  closed-end  nonconforming  residential   loans
originated by Provident Consumer. The recognition of gains on the sale
of  these  loans  have made a notable contribution  to  the  financial
performance  over  this time period. The following  is  a  summary  of
selected  operational data for Provident Consumer for  the  past  five
quarters (in millions):
<TABLE>
<CAPTION>
                                                 Quarter Ended
                              June 1998  Mar. 1998  Dec. 1997  Sept. 1997 June 1997
<S>                           <C>        <C>        <C>        <C>        <C>  
  Loan Originations             $226.2     $193.4     $266.2     $230.3     $213.6
  Loan Sales                     239.2      207.8      255.2      233.2      233.2
  Gain on Sale of Loans           10.8        8.0       10.2       13.8       15.5
  Interest and Fees on Loans       5.3        7.0        6.7        5.6        5.2
</TABLE>

                               - 10 -
<PAGE>
Included  in  "Investment Securities Available for Sale" are  residual
interest  securities representing the present value of net cash  flows
due   Provident  Financial  from  loan  securitizations   and   sales.
Components  of  the  residual interest securities and  the  underlying
assumptions follow (dollars in thousands):
<TABLE>
<CAPTION>
                                                       Closed-End   Closed-End  Opened-End
                                                     Nonconforming  Conforming  Conforming
<S>                                                  <C>            <C>         <C>
  Estimated Cash Flows of Underlying Loans,
   Net of Payments to Certificate Holders                 $223,412      $5,067      $9,661
  Less:
    Off-Balance Sheet Allowance for Loan Losses            (40,652)       (595)       (504)
    Servicing Costs and Insurance Premiums                 (26,455)       (885)     (1,333)
    Discount to Present Value                              (36,827)       (479)     (1,058)
  Carrying Value of Residual Interest Securities          $119,478      $3,108      $6,766

  Assumptions Used (Weighted Average)
    Prepayment Speed (initial)                                9.00%      15.00%       n/a
    Prepayment Speed (ramps up to)                           28.00       15.00        n/a
    Repayment Rate (overall)                                  n/a         n/a        40.00%
    Provision for Loan Losses (annual basis)                  1.06        0.30        0.15
    Provision for Loan Losses (% of original balance)         3.48        0.79        0.30
    Discount Rate                                            11.55        9.36        9.23
</TABLE>

The  structure  for securitizing nonconforming residential  loans  was
changed  for  1998. Prior to 1998 securitizations, the  allowance  for
loan  loss  would be funded from future cash flows of  the  underlying
loans, net of interest payments to the security holders. Beginning  in
1998, an allowance for loan losses is being funded at the beginning of
each  securitization,  separately from the  cash  flows  of  the  loan
payments.   As   of  June  30,  1998  the  allowance   on   the   1998
securitizations was $9.6 million.

Noninterest Expense

Second Quarter 1998 Compared to Second Quarter 1997

Noninterest expense increased $17.0 million during the second  quarter
of   1998  when  compared  to  1997.  Compensation  expense  increased
primarily as a result of the expansion of Provident Consumer  and  the
acquisition  of  the  Florida banks. The larger  volume  of  operating
leases originated by Provident Commercial and Information Leasing  has
resulted  in  the  higher  depreciation  expense  of  operating  lease
equipment.  Occupancy  expense increased primarily  in  the  Provident
Consumer  and  retail distribution areas. Equipment expense  increased
primarily   due  to  the  purchase  of  data  processing   and   voice
communications  equipment. Professional fees have increased  primarily
in  the  areas  of commercial and consumer lending. Charges  and  fees
increased  as a result of credit card origination expenses.  Marketing
costs  increased  primarily  from  advertising  of  Retail,  Provident
Consumer  and  Value  Systems  products  and  services.  Higher   data
processing  expense related to Year 2000 compliance  was  the  primary
reason for the increase in other expense.

                               - 11 -
<PAGE>
Six  Months Ended June 30, 1998 Compared to Six Months Ended June  30,
1997

Noninterest  expense  increased $30.7 million  during  the  first  six
months  of  1998  compared to the same period in  1997.  All  expenses
except for charges and fees increased for the same reasons as given in
the  quarterly comparison. Charges and fees decreased as a  result  of
foreclosed  property costs incurred during 1997 exceeding  the  credit
card origination expenses incurred during 1998.

Financial Condition

Short-Term Investments and Investment Securities

Federal  funds sold and reverse repurchase agreements increased  $32.3
million  since  December 31, 1997. The amount of  federal  funds  sold
changes  daily  as  cash is managed to meet reserve  requirements  and
customer  needs. After funds have been allocated to meet  lending  and
investment requirements, any remainder is placed in overnight  federal
funds.

Beginning  in  1998,  Provident Financial began purchasing  securities
with the intention of recognizing short-term profits. These securities
are  carried  at  fair  value with realized and unrealized  gains  and
losses  reported  in other noninterest income. As  of  June  30,  1998
Provident Financial held $59.8 million in trading account securities.

Securities  purchased with the intention of being held for  indefinite
periods of time are classified as investment securities available  for
sale. This category of securities increased $148.8 million during 1998
as more funds were invested in this manner.

Loans and Leases

Total   loans  and  leases  increased  $536.2  million  during   1998.
Commercial  loan growth of $433.3 million was the primary  reason  for
the  increase  in total loans and leases. Residential loans  decreased
$36.7  million  due  primarily  to  sales  exceeding  originations  of
nonconforming residential loans by $27.4 million.

                               - 12 -
<PAGE>
The  following  table  shows the composition  of  the  commercial  and
financial loan category by industry type at June 30, 1998 (dollars  in
millions):

                                                             Amount on
               Type                   Amount        %       Nonaccrual
  Manufacturing                       $638.3        20           $14.5
  Service Industries                   560.6        18             2.7
  Real Estate Operators/Investment     340.6        11             1.2
  Wholesale Trade                      244.2         8             3.4
  Retail Trade                         239.1         7             1.8
  Residential Warehouse Lending        221.7         7               -
  Transportation/Utilities             179.7         6            14.2
  Finance & Insurance                  162.4         5              .9
  Construction                         128.8         4              .5
  Automobile Dealers                   102.4         3               -
  Other(1)                             349.0        11             3.2
     Total                          $3,166.8       100           $42.4

  (1) Includes various kinds of loans, such  as  small  business loans
      and loans with balances under $100,000.

The  composition  of  the commercial mortgage  and  construction  loan
categories by property type at June 30, 1998 is shown in the following
table (dollars in millions):
                                                             Amount on
               Type                   Amount        %       Nonaccrual
  Shopping/Retail                     $183.4        23             $.3
  Office/Warehouse                     171.6        21               -
  Apartments                           141.1        17               -
  Residential Development              121.1        15               -
  Land                                  30.4         4               -
  Auto Sales and Service                27.5         3               -
  Industrial Plants                     15.4         2               -
  Hotels/Motels                         12.8         2               -
  Churches                              12.3         2               -
  Mobile Home Parks                      4.1         0               -
  Health Facilities                      0.8         0               -
  Other Commercial Properties           86.8        11               -
     Total                            $807.3       100             $.3

Provident  Financial maintains a reserve for loan and lease losses  to
absorb  potential losses in its portfolio. Management's  determination
of  the adequacy of the reserve is based on reviews of specific  loans
and  leases,  credit loss experience, general economic conditions  and
other  pertinent factors. The reserve is maintained at a  level  which
management  considers to be adequate to absorb future loan  and  lease
losses.   Reserve   adjustments  needed  for   charge-offs   or   risk
characteristics in the lending portfolio are made through  changes  to
the  provision  for  loan and lease losses. Loans  and  leases  deemed
uncollectible  are  charged  off and deducted  from  the  reserve  and
recoveries on loans and leases previously charged off are added to the
reserve.

                               - 13 -
<PAGE>
The  following table shows the progression of the reserve for loan and
lease losses (in thousands):

                                               1998              1997
  Balance at January 1                       $71,980           $66,693
  Provision for Loan and Lease Losses         10,000            26,000
  Acquired Reserves                                -               334
  Loans and Leases Charged Off               (12,859)          (20,532)
  Recoveries                                   6,351             5,801
  Balance at June 30                         $75,472           $78,296

Net  charge-offs totaled $6.5 million during the first six  months  of
1998  compared  to  $14.7 million for the same time  period  in  1997.
During  the  first  two  quarters of 1998,  net  charge-offs  for  the
commercial lending portfolio were $.8 million, consisting primarily of
commercial  loans  and  equipment  leases.  Net  charge-offs  for  the
consumer lending portfolio were $5.7 million consisting principally of
auto  loans  and  leases and credit card lending. As a  percentage  of
total loans and leases outstanding, the reserve was 1.35% at June  30,
1998 compared to 1.42% at December 31, 1997.

Table  3  shows  a comparison of the major components of nonperforming
assets  over  the past five quarters along with various asset  quality
ratios. Nonperforming assets increased $11.2 million during the  first
six  months  of  1998. Nonaccrual loans increased  $11.5  million  due
primarily to the addition of three commercial loans and one commercial
lease,  which  was partially offset by the removal of  two  commercial
loans, one which was brought current and the other being restructured.
Renegotiated loans increased $8.8 million due to the loan formerly  on
nonaccrual  being  restructured.  Other  real  estate  decreased  $9.1
million  due primarily to three commercial properties being  sold.  At
June  30,  1998, nonperforming assets as a percentage of total  loans,
leases  and other real estate was 1.26% compared to 1.17% at  December
31, 1997.

Short-Term Debt

Short-term  debt  increased $629.5 million, or 78%,  to  $1.4  billion
during the first six months of 1998. The increase was due primarily to
the  purchase  of  term  and overnight federal funds.  The  amount  of
federal  funds  purchased changes daily as cash  is  managed  to  meet
reserve  requirements  and  customer  needs.  After  funds  have  been
allocated to meet lending and investment requirements, any shortage is
offset by the purchase of overnight federal funds.

Capital Resources and Adequacy

During  the  first six months of 1998, shareholders' equity  increased
$65.2  million, or 10%, to $702.4 million. The increase in equity  was
primarily  the result of net income exceeding dividends paid  and  the
exercise of stock options. Dividends of $17.2 million on common  stock
and $395,000 on preferred stock were paid in the first two quarters of
1998.

                               - 14 -
<PAGE>
The  following  table of ratios is important to the  analysis  of  the
adequacy of capital resources.
<TABLE>
<CAPTION>
                                                  Six Months Ended     Year Ended
                                                    June 30, 1998    December 31, 1997
<S>                                               <C>                <C> 
  Average Shareholders' Equity to Average Assets             8.85%              8.22%
  Preferred Dividend Payout to Net Earnings                   .63                .62
  Common Dividend Payout to Net Earnings                    27.57              25.62
  Tier 1 Leverage Ratio                                      9.98              10.13
  Tier 1 Capital to Risk-Weighted Assets                    10.31               9.81
  Total Risk-Based Capital To Risk-Weighted Assets          13.44              13.25
</TABLE>

In  August 1998, Provident Financial announced that it would  purchase
up  to  1 million shares, or approximately 2.3%, of its common  stock.
The  purchases are to be made from time-to-time in open market  or  in
privately  negotiated  transactions at the discretion  of  management.
Shares purchased pursuant to the buy-back program will be used to fund
various company benefit plans and for other corporate purposes.

Capital  expenditures  planned  by Provident  Financial  for  building
improvements  and  furniture  and  equipment  in  1998  are  currently
estimated to be approximately $25 million. Included in this amount are
projected  capital  expenditures for the purchase or  construction  of
computer  equipment  and  software, office  building  renovations  and
branch  enhancements. Through June 30, 1998, approximately $17 million
of these expenditures have been made.

Liquidity

Adequate  liquidity  is  necessary to meet  the  borrowing  needs  and
deposit  withdrawal requirements of customers as well  as  to  satisfy
liabilities,  fund  operations  and support  asset  growth.  Provident
Financial  has  a  number of sources to provide for  liquidity  needs.
First,  liquidity needs can be met by the liquid assets on its balance
sheet  such as cash, deposits with other banks and federal funds sold.
Another  source is the generation of new deposits. Provident Financial
may  borrow  both short-term and long-term funds. Provident  Financial
has  an additional $687.5 million available for borrowing under  a  $1
billion  bank  notes program. Additional sources of liquidity  include
the  sale  of  investment securities and the sale  of  commercial  and
consumer loans and leases.

The major source of liquidity for Provident Financial on a parent-only
basis  ("the  Parent")  is dividends paid to it by  its  subsidiaries.
Pursuant to Federal Reserve and state banking regulations, the maximum
amount  available for dividend distribution to the Parent at June  30,
1998 by its banking subsidiaries was approximately $234.6 million. The
Parent has not received any dividends from its subsidiaries during the
first six months of 1998.

                               - 15 -
<PAGE>
At  June  30,  1998,  the  Parent  had $219.2  million  of  short-term
commercial  paper outstanding. A portion of commercial paper  proceeds
was   used  to  fund  investment  securities  and  short-term   loans.
Contractual  lines of credit totaling $175 million have been  obtained
by  the  Parent to support its commercial paper borrowings. Also,  the
Parent has $40 million in general purpose lines of credit. These lines
had  not  been  used  at June 30, 1998. The Parent  had  approximately
$126.0  million in cash, interest earning deposits and  federal  funds
sold at June 30, 1998.

                               - 16 -
<PAGE>
<TABLE>
Provident Financial Group, Inc. and Subsidiaries
Condensed Consolidated Statements Of Earnings
(unaudited)
(In Thousands)
Table 1.
<CAPTION> 
                                                           Quarter Ended            Six Months Ended
                                                          June        June          June        June
                                                          1998        1997          1998        1997
<S>                                                      <C>         <C>           <C>         <C>
Total Interest Income                                    $154,699    $142,236      $301,485    $279,522
Taxable Equivalent Adjustment                                  59          86           158         164

Taxable Equivalent Interest Income                        154,758     142,322       301,643     279,686
Total Interest Expense                                     86,472      76,689       166,982     150,442

Net Interest Income                                        68,286      65,633       134,661     129,244
Provision for Loan and Lease Losses                         5,000      15,000        10,000      26,000

Taxable Equivalent Net Interest Income After
    Provision for Loan and Lease Losses                    63,286      50,633       124,661     103,244

Noninterest Income                                         56,831      46,794       106,536      87,338
Noninterest Expense                                        70,904      53,861       135,535     104,883


Taxable Equivalent Earnings Before Income Taxes            49,213      43,566        95,662      85,699

Applicable Income Taxes                                    17,154      15,280        33,104      30,028

Taxable Equivalent Adjustment                                  59          86           158         164

Net Earnings                                              $32,000     $28,200       $62,400     $55,507
Net Earnings Applicable to Common Stock                   $31,802     $28,042       $62,004     $55,191
</TABLE>
                               - 17 -
<PAGE>
<TABLE>
Provident Financial Group, Inc. and Subsidiaries
Consolidated Average Balances, Rates and Yields
On a Fully Taxable Equivalent Basis
(unaudited)
(Dollars In Millions)
Table 2.
<CAPTION>
                                                          Quarter Ended                             Six Months Ended
                                                Jun. 30,1998         Jun. 30,1997         Jun. 30,1998         Jun. 30,1997
                                              Average      Avg     Average      Avg     Average      Avg     Average      Avg
                                              Balance     Rate     Balance     Rate     Balance     Rate     Balance     Rate
<S>                                           <C>         <C>      <C>         <C>      <C>         <C>      <C>         <C>
Assets:
 Loans and Leases (Net of Unearned Income):
  Commercial Lending:
   Commercial and Financial                    $3,049      9.37%    $2,479      9.47%    $2,949      9.32%    $2,437      9.34%
   Mortgage                                       443      9.08        511      9.18        447      9.20        500      9.22
   Construction                                   333      8.92        286      8.89        322      8.91        283      8.79
   Lease Financing                                352     11.64        248     11.22        348     11.69        245     11.15
  Consumer Lending:
   Instalment                                     625      9.62        877      9.86        625     10.12        893      9.76
   Residential                                    212      7.59        204      9.09        220      8.99        314      8.33
   Lease Financing                                486      7.87        647      7.57        470      7.87        631      7.63
    Total Loans and Leases                      5,500      9.29      5,252      9.31      5,381      9.39      5,303      9.19
 Investment Securities:
  Taxable                                       1,621      6.53      1,176      6.79      1,527      6.47      1,101      6.82
  Tax-Exempt                                        3      8.63          7      6.36          6      7.27          7      5.36
    Total Investment Securities                 1,624      6.53      1,183      6.78      1,533      6.48      1,108      6.81
 Trading Account Securities                        58      5.55          -         -         47      5.53          -         -
 Federal Funds Sold and Reverse
   Repurchase Agreements                           11      5.61         22      7.78         20      5.51         21      5.79
    Total Earning Assets                        7,193      8.63      6,457      8.84      6,981      8.71      6,432      8.77
 Cash and Noninterest Bearing Deposits            188                  106                  187                  138
 Other Assets                                     380                  193                  398                  202
    Total Assets                               $7,761               $6,756               $7,566               $6,772
Liabilities and Shareholders' Equity:
 Deposits:
  Demand Deposits                                $268      2.20       $263      2.18       $269      2.18       $241      2.25
  Savings Deposits                              1,023      4.29        535      3.02        970      4.22        529      2.88
  Time Deposits                                 3,011      5.70      3,505      5.79      3,055      5.72      3,448      5.71
   Total Deposits                               4,302      5.15      4,303      5.23      4,294      5.16      4,218      5.16
 Short-Term Debt:
  Federal Funds Purchased and
   Repurchase Agreements                        1,090      5.56        427      5.41        906      5.50        435      5.31
  Commercial Paper                                221      5.77        156      5.91        226      5.76        149      5.72
  Short-Term Notes Payable                          2      5.35          1      5.09          2      6.05          1      5.52
   Total Short-Term Debt                        1,313      5.59        584      5.55      1,134      5.55        585      5.42
 Long-Term Debt                                   676      6.39        665      6.24        678      6.40        722      6.27
 Junior Subordinated Debentures                    99      8.79         99      8.79         99      8.84         99      8.84
   Total Interest Bearing Liabilities           6,390      5.43      5,651      5.44      6,205      5.43      5,624      5.39
 Noninterest Bearing Deposits                     534                  396                  531                  443
 Other Liabilities                                152                  157                  160                  166
 Shareholders' Equity                             685                  552                  670                  539
   Total Liabilities and Shareholders' Equity  $7,761               $6,756               $7,566               $6,772

Net Interest Spread                                        3.20%                3.40%                3.28%                3.38%

Net Interest Margin                                        3.81%                4.08%                3.89%                4.05%
</TABLE>
                               - 18 -
<PAGE>
<TABLE>
Provident Financial Group, Inc. and Subsidiaries
Consolidated Quarterly Nonperforming Assets
(unaudited)
(Dollars In Thousands)
Table 3.
<CAPTION>
                                                                           Quarter Ended
                                                       June         Mar.         Dec.         Sep.         June
                                                       1998         1997         1997         1997         1997
<S>                                                  <C>          <C>          <C>          <C>          <C>
Nonaccrual Loans: (1)
 Commercial Lending:
   Commercial and Financial                            $42,413      $32,746      $37,800      $28,551      $27,230
   Mortgage                                                335          335          335          553            -
   Construction                                              -            -           27           87           27
   Lease Financing                                      11,862        7,046        4,798        5,481        7,292
 Consumer Lending:
   Instalment                                                -            -            -           14            -
   Residential                                           3,314        3,287        3,459        2,239        2,028
   Lease Financing                                           -            -            -            -            -
     Total Nonaccrual Loans                             57,924       43,414       46,419       36,925       36,577

Renegotiated Loans (2)                                   9,196        9,327          377          257          246
   Total Nonperforming Loans                            67,120       52,741       46,796       37,182       36,823

Other Real Estate and Equipment Owned:
   Commercial                                            2,247        4,330       11,207       11,088        8,820
   Residential                                             983        1,124        1,079        1,662        3,369
   Land                                                     91           92          110           15           68
     Total                                               3,321        5,546       12,396       12,765       12,257

     Total Nonperforming Assets                        $70,441      $58,287      $59,192      $49,947      $49,080

Loans 90 Days Past Due Still Accruing                  $10,058      $17,109       $9,811      $10,504      $20,460

Total Loans and Leases                               5,588,006    5,265,159    5,051,842    5,105,578    5,205,897

Reserve for Loan and Lease Losses                       75,472       72,837       71,980       75,242       78,296

Total Assets                                         7,801,614    7,699,935    7,123,659    7,079,578    6,985,035

Reserve for Loan and Lease Losses as a Percent of:
  Nonperforming Loans                                   112.44%      138.10%      153.82%      202.36%      212.63%
  Nonperforming Assets                                  107.14%      124.96%      121.60%      150.64%      159.53%
  Total Loans and Leases                                  1.35%        1.38%        1.42%        1.47%        1.50%

Nonperforming Loans as a % of Total
  Loans and Leases                                        1.20%        1.00%         .93%         .73%         .71%


Nonperforming Assets as a Percent of:
  Total Loans, Leases  and Other Real Estate              1.26%        1.11%        1.17%         .98%         .94%
  Total Assets                                             .90%         .76%         .83%         .71%         .70%
<FN>
(1) Provident Financial generally stops accruing interest on loans and leases when the payment of principal and/or
    interest is past due 90 days or more.
(2) Loans renegotiated to provide a reduction or deferral of interest or principal because of a deterioration in
    the financial position of the borrower.
</TABLE>
                               - 19 -
<PAGE>
                     PART II  -  OTHER INFORMATION


Item 4.  Submission of Matters to a Vote of Security Holders

Registrant's annual meeting of shareholders was held on May 28,  1998.
Proxies  were solicited pursuant to Regulation 14 under the Securities
Exchange  Act  of 1934 and the following matters were voted  upon  and
approved by the shareholders as indicated below.

                                   Votes        Votes
                                    For        Against     Abstentions
Election of the following directors:
(a)Jack M. Cook                  39,775,186       25,911        48,966
(b)Allen L. Davis                39,754,702       25,911        69,450
(c)Thomas D. Grote, Jr.          39,777,058       25,911        47,094
(d)Robert L. Hoverson            39,775,589       25,911        48,563
(e)Philip R. Myers               39,777,883       25,911        46,269
(f)Joseph A. Pedoto              39,773,165       25,911        50,987
(g)Sidney A. Peerless            39,765,094       25,911        59,058
(h)Joseph A. Steger              39,722,667       25,911       101,485


Item 5.  Other Information

The  form  of  Proxy  for  Provident  Financial's  Annual  Meeting  of
Shareholders  grants authority to the designated proxies  to  vote  in
their  discretion on any matters that come before the  meeting  except
for  those  set  forth  in Provident Financial's Proxy  Statement  and
except  for matters as to which adequate notice is received. In  order
for  a  notice to be deemed adequate for the 1999 Annual Shareholders'
Meeting, it must be received prior to March 14, 1999.


Item 6.  Exhibits and Reports on Form 8-K

(a)  Exhibits filed:

       Exhibit 10 - Material Contract

       Exhibit 27.1 - Financial Data Schedule for June 30, 1998

       Exhibit 27.2 - Restated Financial Data Schedule for
                      June 30, 1997


All  other  items required in Part II of this form have  been  omitted
since they are not applicable or not required.

                               - 20 -
<PAGE>
                              SIGNATURES
                                   

Pursuant  to the requirements of the Securities Exchange Act of  1934,
the  Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.





                                       Provident Financial Group, Inc.
                                                  Registrant





Date:  August 12, 1998                      \s\ John R. Farrenkopf
                                              John R. Farrenkopf
                                              Vice President and
                                           Chief Financial Officer

                               - 21 -