FIFTH THIRD BANCORP - FORM 8-K - EX-99.1

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Credit Suisse

Financial Services Forum

Tayfun Tuzun

Executive Vice President & Chief Financial Officer

February 12, 2014

Please refer to earnings release dated January 23, 2014 for further information.

Exhibit 99.1

2013: A record year

Return on avg. assets

Net income to common ($MM)

Generated highest level of net

income in Company’s history

Steadily improving profitability

providing positive momentum

Net charge-off ratio

Problem assets at lowest

levels in five years

Tier 1 common ratio

ALLL / NPLs

Coverage levels among

highest in the industry

Strong and stable capital ratios

2013 is net of the issuance of shares valued at $398MM related to the Series G preferred stock conversion on July 1, 2013.

Repurchases of shares in the amount of after-tax gains on the sale of Vantiv shares.

Non-GAAP measure; see Reg. G reconciliation in appendix; capital ratios estimated; presented under current U.S. capital regulations

Total payout ratio

Net payouts to shareholders

of $1.3B in 2013

$511

$503

$1,094

$1,541

$1,799

2009

2010

2011

2012

2013

2009

2010

2011

2012

2013

2009

2010

2011

2012

2013

2009

2010

2011

2012

2013

2009

2010

2011

2012

2013

2009

2010

2011

2012

2013

Common Dividends

Declared

0.6%

0.7%

1.2%

1.3%

1.5%

23%

11%

31%

21%

23%

7.0%

7.5%

9.4%

9.5%

9.4%

3.20%

3.02%

1.49%

0.85%

0.58%

127%

179%

157%

180%

211%

Share Repurchases

Vantiv

Share Repurchases

ex-Vantiv

100% of

gains

45% of

earnings

ex-Vantiv

gains

26% of

earnings

ex-Vantiv

gains

39%

12%

Earnings per diluted share of $0.43

Strong returns, with sequential growth in NII, deposit fees, payments processing and

wealth management, and ongoing disciplined expense management

Overall credit trends remain favorable with the lowest past-due and nonperforming

asset levels since late 2007

Solid fourth quarter 2013 earnings

Non-GAAP

measure;

see

Reg.

reconciliation

appendix.

Capital

ratios

estimated;

presented

under

current

U.S.

capital

regulations.

The

pro

forma

Basel

III

Tier

common

equity

ratio

management’s estimate based upon its current interpretation of recent prospective regulatory capital requirements approved in July 2013.

Traditional commercial banking franchise utilizing an affiliate based model supported with

strong national businesses

—

Segment and industry specialization in mid-corporate, energy, and healthcare

Top 3 deposit market share in key markets with focus on further improving share of wallet

Redesigning retail distribution strategy and prioritizing key segments in consumer bank

Best-in-class regional wealth management business

Tier

common

ratio

9.4%

(Basel

III

pro

forma

estimate

~9.0%)

Continue to execute on capital plans

—

Issued $450MM of Series I preferred stock in 4Q13

—

Redeemed $750MM of outstanding TruPS and issued $750MM of subordinated debt

—

Announced $656MM share repurchase agreements in 4Q13, and $99MM share

repurchase agreement in 1Q14

Strong

Results

Executing on

Strategic

Plans

Prudent

Capital

Management

Net interest income, margin & balance sheet

Average core deposit balances ($B)

$89.3

$84.3

Loan balances ($B)

NII and NIM (FTE)

$903

$893

$885

$898

$905

•

Growth in NII despite NIM contraction

•

Changed composition and size of investment portfolio

in 3Q13; expect benefit to NII in future quarters

•

New origination spreads remain tight (reflects

increased level of competition, impact of better credit,

and overall relationship profitability approach)

•

Coupons on new fixed rate loan originations continue

to converge with portfolio avg. coupons (~40% of loan

book is fixed)

•

Increase in short-term LIBOR rates key driver for long-

term upside on NIM

3.49%

3.42%

3.33%

3.31%

3.21%

$870

$875

$880

$885

$890

$895

$900

$905

$910

3.0%

3.1%

3.2%

3.3%

3.4%

3.5%

3.6%

4Q12

1Q13

2Q13

3Q13

4Q13

Net Interest Income ($MM)

NIM

$80.2

$80.9

$81.7

$83.2

$85.7

4Q12

1Q13

2Q13

3Q13

4Q13

Transaction deposits

Other time deposits

$85.8

$88.6

$83.9

$85.9

$86.7

$87.3

$87.9

4Q12

1Q13

2Q13

3Q13

4Q13

EOP loans HFI

Avg loans HFI

Disciplined expense management

Expect continued improvement in

2014

Mid-50% efficiency ratio target

Expense trend ($MM)

Operating leverage is a strategic priority in all environments

Efficiency ratio trend

2H13 Mortgage

Expense Reduction

~$50MM of mortgage-related cost

reductions in 2H13

Eliminated overtime and

contract work, some full-time

employee costs and lower

incentive comp due to the

lower origination volumes

Full-year expenses declined 3%

Included 4% increase in

technology and communications

expense and $159MM in additions

to litigation reserves

Significant items reflected in “Adjusted efficiency ratio”

for all quarters listed on page 13 in the appendix.

$500

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

2012

2013

39%

19%

15%

18%

Sales Compensation

Fulfillment Compensation

Benefits

Loan & Lease Expense

Other

65%

60%

53%

59%

62%

61%

60%

59%

4Q12

1Q13

2Q13

3Q13

4Q13

Efficiency ratio

Adjusted efficiency ratio

Will continue R&D investments with

increased technology,

communications, and equipment

expense in 2014

Will continue to manage

expenses in mortgage business

efficiently in 2014

Normalized interest rate

environment

$1,000

Repositioning consumer bank

with investments and strategic changes

Consumer deposit activity

Enhanced distribution capabilities for customers to access our products and services

Online banking

47%

50%

Mobile banking

24%

Alternative channel delivery

% of checking households with

Transaction volume by channel

Maximize the value offered and the

revenue earned from every

relationship

Continue to grow new households

focusing on the most attractive

segments

Evolve our distribution strategy to

lower costs while improving the

customer experience

Mortgage origination ranking

#16

#13

2009

2013

Indirect auto originator

2013

Prime Bank Rank

by Units

Financed

Source:

Experian

Auto

Count.

Loans

(excluding

leases)

originated

franchised

dealers.

Prime

banks

only

excludes

captives

and

non

primes.

Capital

One

excluded

because

they

are

primarily non-prime. Ally is excluded because they were primarily a captive.

Source: Inside Mortgage Finance

Branch

ATM

Mobile

Integrated channel strategy

—

Redefine branch operating model & reshape physical distribution model

—

Expanded and upgraded self-service channels (image ATMs & mobile )

Maturation of consultative sales process

—

Execution consistency

—

State-of-the-art service tools such as Financial Needs Assessment

Growth in high value segments

—

Dedicated team of specialists to focus on high value segments

—

Significant focus on training & differentiated products

18%

74%

2009

2013

2011

2013

Commercial Bank –

Executing on key strategies

Healthcare

•

Expanded suite of

products designed to

meet full range of

•

Innovative cash

management solutions

simplify cash handling

and improve cash flow

Currency Processing

Solutions

Industry

Specialization

Treasury

Management

Capabilities

Energy

•

Launched in 3Q12

•

Focused on extraction and

distribution (upstream /

downstream)

Commercial Real Estate

•

Centralized group focused

on select opportunities

•

Target clients:

businesses that

generate $500MM to

$2B in revenue

•

Investments in capital

markets capabilities

•

“Lead

left”

strategy

Mid-Corporate

•

Streamline processes,

reduce costs and

maximize convenience

Commercial Card

Solutions

CONSULTATIVE SALES APPROACH

Segment

Specialization

healthcare

clients

needs

’

$115

$484

$340

$213

Gain on IPO

Gains on share

sales

Net put and

warrant

Equity method

earnings

Valuable ownership stake in Vantiv, Inc.

March 2009

Significant unrecognized value unlocked

March

2009

–

Present

Realizing earning potential

Ongoing impact

Positioned well to generate future value

$2.35 billion

enterprise value

Debt incurred

Equity value

Before

Fifth

Third’s

valuation

warrants,

put

rights,

and

minority

interest

discounts

expected

reduce

its

implied

valuation

the

business

estimated

$50

million.

2013 equity method earnings reflect results through 3Q13, as Vantiv has not yet reported 4Q13 results.

•

Equity valuation of $1.1B

–

Including $561MM cash payment

related to Advent’s 51% ownership

and put rights

–

Fifth Third retained 49% ownership

with additional warrants

Recognized value to date

($MM pre-tax)

•

Currently own 25% interest in

Vantiv Holding, LLC, convertible to

Vantiv, Inc. shares (NYSE: VNTV)

–

Carrying (book) value of

$415MM as of 9/30/13

–

Ownership (market) value of

~$1.6B as of 12/31/13

•

Ongoing equity method earnings

•

Warrant to purchase additional

shares in Vantiv

–

Carried as a derivative asset at

fair value of $384MM as of

12/31/13

•

Annual payment corresponding

with tax benefits accruing to Fifth

Third associated with the tax

receivable agreement (TRA)

–

Vantiv reported FITB TRA at a

gross value of $494MM as of

3Q13

–

$9MM in 4Q13

Equity ownership & earnings

Total gains / earnings recognized ~$3 billion

•

Pre-tax gain of $1.8B

$1.10B

$1.25B

Enterprise Value Components

83.9

70.2

48.8

$10

$20

$30

$40

$50

$60

$70

2011

2012

2013

Class B shares (MM)

Equity method earnings ($MM)

valuation gains

9.5%

9.7%

9.4%

9.9%

9.4%

10%

4Q12

1Q13

2Q13

3Q13

4Q13

Capital management –

core focus

$710MM common

stock repurchases

(net of $398MM

shares issued

related to Series G

conversion)

$407MM common

dividends declared

$212MM common

stock repurchases

utilizing AT Vantiv

gains

Common Shares Outstanding (MM)

and Tangible Book Value per share

•

2014 CCAR plan designed to maintain capital ratios at

approximately current levels, managed with share

repurchases and dividends consistent with the Federal

Reserve's 30% guidance.

–

Consistent with prior plans, would generally intend to

repurchase any equity created through Vantiv-related

gains

–

Plans contingent on non-objection from the Federal

Reserve and on the Board’s future decisions

Basel III

Est. 9.5%²

Basel III

Est. 9.0%²

$200

$400

$600

$800

$1,000

$1,200

$1,400

2013 Net Payouts

($MM)

882

875

851

887

855

$12.33

$12.62

$12.69

$13.09

$13.00

650

700

750

800

850

900

$11.00

$11.50

$12.00

$12.50

$13.00

$13.50

$14.00

4Q12

1Q13

2Q13

3Q13

4Q13

Common Shares O/S

TBV per share

Tier

common

equity

Non-GAAP measure; See Reg. G reconciliation in appendix.

Capital ratios estimated; presented under current U.S. capital regulations. The pro forma Basel III Tier I common equity ratio is management’s estimate based upon its current interpretation of

recent prospective regulatory capital requirements approved in July 2013.

Investment thesis

•

Consistent earnings power with high returns

•

Healthy balance sheet with strong growth potential

•

Commercial Bank with growing scale and scope of products and services

•

Redesign of Consumer Bank for long term profitability

•

Growing wealth management and brokerage services

•

Long history of disciplined expense management

•

Balanced capital management supporting growth and shareholder returns

Cautionary statement

This report contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of

1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule

3b-6 promulgated thereunder. These statements relate to our financial condition, results of operations, plans, objectives, future performance

or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is

anticipated,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,”

“trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,”

“might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties,

including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K. When considering these forward-

looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover,

you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-

looking statements. Factors that might cause such a difference include, but are not limited to: (1) general economic conditions and

weakening in the economy, specifically the real estate market, either nationally or in the states in which Fifth Third, one or more acquired

entities and/or the combined company do business, are less favorable than expected; (2) deteriorating credit quality; (3) political

developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in

the interest rate environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss

provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of funding and liquidity; (7) maintaining capital

requirements may limit Fifth Third’s operations and potential growth; (8) changes and trends in capital markets; (9) problems encountered

by larger or similar financial institutions may adversely affect the banking industry and/or Fifth Third; (10) competitive pressures among

depository institutions increase significantly; (11) effects of critical accounting policies and judgments; (12) changes in accounting policies or

procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (13) legislative or

regulatory changes or actions, or significant litigation, adversely affect Fifth Third, one or more acquired entities and/or the combined

company or the businesses in which Fifth Third, one or more acquired entities and/or the combined company are engaged, including the

Dodd-Frank Wall Street Reform and Consumer Protection Act; (14) ability to maintain favorable ratings from rating agencies; (15) fluctuation

of Fifth Third’s stock price; (16) ability to attract and retain key personnel; (17) ability to receive dividends from its subsidiaries;

(18) potentially dilutive effect of future acquisitions on current shareholders’ ownership of Fifth Third; (19) effects of accounting or financial

results of one or more acquired entities; (20) difficulties from the separation of or the results of operations of Vantiv, LLC; (21) loss of

income from any sale or potential sale of businesses that could have an adverse effect on Fifth Third’s earnings and future growth;

(22) ability to secure confidential information and deliver products and services through the use of computer systems and

telecommunications networks; and (23) the impact of reputational risk created by these developments on such matters as business

generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on

other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking

statements.

Appendix

PPNR trend

PPNR down 6% from 3Q13 and flat to prior year; adjusted PPNR up 3% sequentially and down 3% from prior year

PPNR reconciliation

Non-GAAP

measure;

see

Reg.

reconciliation

following

pages.

Prior

quarters

include

similar

adjustments.

There

are

limitations

the

usefulness

credit-adjusted

PPNR,

including

the

significant

degree

which

changes

credit

and

fair

value

are

integral,

recurring

components

the

Bancorp’s

core

operations

financial

institution.

This

measure

has

been

included

herein

facilitate

greater

understanding

the

Bancorp’s

financial

condition.

Note:

4Q13

and

3Q13

also

included

benefits

the

mortgage

repurchase

provision

$28MM

and

$4MM,

respectively.

2Q13,

1Q13,

and

4Q12

also

included

the

impact

$47MM,

$30MM,

and

$21MM

mortgage

repurchase

provision,

respectively.

These

impacts

are

reflected

“Credit-related

items”

listed

above.

Pre-tax

pre-provision

earnings

($ in millions)

4Q12

1Q13

2Q13

3Q13

4Q13

Income before income taxes (U.S. GAAP) (a)

$540

$591

$841

$604

$561

Add: Provision expense (U.S. GAAP) (b)

PPNR (a) + (b)

$616

$653

$905

$655

$614

Gain from sales of Vantiv shares

(157)

(242)

(85)

Vantiv warrant & puts

(34)

(76)

(6)

(91)

Other Vantiv-related income

(9)

Valuation of 2009 Visa total return swap

Sale of certain Fifth Third funds

(7)

BOLI settlement

(10)

Securities (gains) / losses

(2)

(17)

(2)

Debt extinguishment (gains) / losses

134

Severance expense

Large bank assessment fees

Gain on sale of affordable housing investments

(9)

(2)

(1)

Donation to Fifth Third Foundation

Additions to litigation reserves

Adjusted PPNR

$641

$608

$632

$603

$623

In noninterest income

In noninterest expense

(12)

$722

$642

$673

$624

$616

$641

$608

$632

$603

$623

$100

$200

$300

$400

$500

$600

$700

4Q12

1Q13

2Q13

3Q13

4Q13

Adjusted PPNR

PPNR $616 $653 $905 $655 $614

Adjustments

remove

(benefit)

detriment

Credit-adjusted

PPNR

noninterest

income:

noninterest

expense:

Credit-related

items:

Regulation G Non-GAAP reconciliation

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

December

September

June

March

December

2013

2012

Income before income taxes (U.S. GAAP)

$561

$604

$841

$591

$540

Add:

Provision expense (U.S. GAAP)

Pre-provision net revenue (a)

614

655

905

653

616

Net income available to common shareholders (U.S. GAAP)

383

421

582

413

390

Add:

Intangible amortization, net of tax

Tangible net income available to common shareholders

384

422

583

414

392

Tangible net income available to common shareholders (annualized) (b)

1,523

1,674

2,338

1,679

1,559

Average Bancorp shareholders' equity (U.S. GAAP)

14,757

14,440

14,221

13,779

13,855

Less:

Average preferred stock

(703)

(593)

(717)

(398)

Average goodwill

(2,416)

(2,417)

Average intangible assets

(20)

(22)

(24)

(26)

(28)

Average tangible common equity (c)

11,618

11,409

11,064

10,939

11,012

Total Bancorp shareholders' equity (U.S. GAAP)

14,589

14,641

14,239

13,882

13,716

Less:

Preferred stock

(1,034)

(593)

(991)

(398)

Goodwill

(2,416)

Intangible assets

(19)

(21)

(23)

(25)

(27)

Tangible common equity, including unrealized gains / losses (d)

11,120

11,611

10,809

11,043

10,875

Less: Accumulated other comprehensive income

(82)

(218)

(149)

(333)

(375)

Tangible common equity, excluding unrealized gains / losses (e)

11,038

11,393

10,660

10,710

10,500

Total assets (U.S. GAAP)

130,443

125,673

123,360

121,382

121,894

Less:

Goodwill

(2,416)

Intangible assets

(19)

(21)

(23)

(25)

(27)

Tangible assets, including unrealized gains / losses (f)

128,008

123,236

120,921

118,941

119,451

Less: Accumulated other comprehensive income / loss, before tax

(126)

(335)

(229)

(512)

(577)

Tangible assets, excluding unrealized gains / losses (g)

127,882

122,901

120,692

118,429

118,874

Common shares outstanding (h)

855

887

851

875

882

Ratios:

Return on average tangible common equity (b) / (c)

13.1%

14.7%

21.1%

15.4%

14.1%

Tangible common equity (excluding unrealized gains/losses) (e) / (g)

8.63%

9.27%

8.83%

9.03%

8.83%

Tangible common equity (including unrealized gains/losses) (d) / (f)

8.69%

9.42%

8.94%

9.28%

9.10%

Tangible book value per share (d) / (h)

13.00

13.09

12.69

12.62

12.33

For the Three Months Ended

Regulation G Non-GAAP reconciliation

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

December

September

June

March

December

2013

2012

Total Bancorp shareholders' equity (U.S. GAAP)

$14,589

$14,641

$14,239

$13,882

$13,716

Goodwill and certain other intangibles

(2,492)

(2,496)

(2,504)

(2,499)

Unrealized gains

(82)

(218)

(149)

(333)

(375)

Qualifying trust preferred securities

810

Other

Tier I capital

12,094

12,762

12,426

11,878

11,685

Less:

Preferred stock

(1,034)

(593)

(991)

(398)

Qualifying trust preferred securities

(60)

(810)

Qualifying noncontrolling interest in consolidated subsidiaries

(37)

(39)

(38)

(48)

Tier I common equity (a)

10,963

11,320

10,587

10,632

10,429

Risk-weighted assets, determined in accordance with

prescribed regulatory requirements (b)

116,836

114,544

112,285

109,626

109,699

Ratio:

Tier I common equity (a) / (b)

9.38%

9.88%

9.43%

9.70%

9.51%

Basel III -

Estimated Tier 1 common equity ratio

December

September

2013

Tier 1 common equity (Basel I)

$10,963

$11,320

Add:

Adjustment related to capital components

$82

$88

Estimated Tier 1 common equity under final Basel III rules without AOCI (opt out)(c)

$11,045

$11,408

Add:

Adjustment related to AOCI

$82

$218

Estimated Tier 1 common equity under final Basel III rules with AOCI (non opt out)(d)

$11,127

$11,626

Estimated risk-weighted assets under final Basel III rules (e)

122,602

120,447

Estimated

Tier

common

equity

ratio

under

final

Basel

III

rules

(opt

out)

(c)

(e)

9.01%

9.47%

Estimated

Tier

common

equity

ratio

under

final

Basel

III

rules

(non

opt

out)

(d)

(e)

9.08%

9.65%

(c), (d)

(e)

Under the final Basel III rules, non-advanced approach banks are permitted to make a one-time election to opt out of the requirement to include AOCI in Tier 1 common equity. Other

adjustments include mortgage servicing rights and deferred tax assets subject to threshold limitations and deferred tax liabilities related to intangible assets.

Key differences under Basel III in the calculation of risk-weighted assets compared to Basel I include: (1) Risk weighting for commitments under 1 year; (2) Higher risk weighting for

exposures

to securitizations, past due loans, foreign banks and certain commercial real estate; (3) Higher risk weighting for mortgage servicing rights and deferred tax assets that are

under certain

thresholds as a percent of Tier 1 capial; and (4) Derivatives are differentiated between exchange clearing and over-the-counter and the 50% risk-weight cap is removed.

For the Three Months Ended

Regulation G Non-GAAP reconciliation

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconcilation

$ and shares in millions

(unaudited)

2013

2012

2011

2010

2009

Total Bancorp shareholders' equity (U.S. GAAP)

$14,589

$13,716

$13,201

$14,051

$13,497

Goodwill and certain other intangibles

(2,492)

(2,499)

(2,514)

(2,546)

(2,565)

Unrealized gains

(82)

(375)

(470)

(314)

(241)

Qualifying trust preferred securities

810

2,248

2,763

Other

(26)

Tier I capital

12,094

11,685

12,503

13,965

13,428

Less:

Preferred stock

(1,034)

(398)

(3,654)

(3,609)

Qualifying trust preferred securities

(60)

(810)

(2,248)

(2,763)

Qualifying noncontrolling interest in consolidated subsidiaries

(37)

(48)

(50)

(30)

Tier I common equity (a)

10,963

10,429

9,807

7,518

7,056

Risk-weighted assets, determined in accordance with

prescribed regulatory requirements (b)

116,836

109,699

104,945

100,561

100,933

Ratio:

Tier I common equity (a) / (b)

9.38%

9.51%

9.35%

7.48%

6.99%

For the Year Ended

Attached files

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