Fifth Third Bancorp Presentation

Citigroup 2009

Financial Services Conference

Kevin Kabat, Chairman, President and CEO

January 28, 2009

Please refer to earnings release dated January 22, 2009

for further information, including full results reported on a GAAP basis

Exhibit 99.1

4Q08 IN REVIEW

Difficult quarter due to continued deterioration in credit and significant non-recurring items

—

4Q08 net loss of $2.2 billion, or $3.82 per diluted share; full year net loss of $2.2 billion or

$3.94 per diluted share

—

Sold

transferred

held-for-sale

$1.6

billion

original

loan

balances,

incurred

losses

$800

million

these

loans;

allowance

for

loan

and

lease

losses

increased

$729

million

—

Non-cash

goodwill

impairment

charge

$965

million

Core business momentum remains solid

—

Net interest income growth of 14% from the previous year driven by loan discount accretion

related to the second quarter First Charter acquisition. Excluding loan discount accretion,

net interest income increased 4%

—

Fee

income

growth

26%,

excluding

BOLI

and

OTTI

charges,

continued

growth

in payments processing revenue, deposit service revenue and corporate banking

revenue

—

Average core deposits up 2% and average total deposits up 8%

Strong capital position, well above target ranges

—

Tier 1 capital ratio of 10.6%

—

Total capital ratio of 14.8%

—

Tangible equity ratio of 7.9%

—

Capital actions included reducing the dividend to $0.01 from $0.15 per share and completing

the sale of approximately $3.4 billion in preferred shares to the U.S. Treasury

SIGNIFICANTLY STRENGTHENED

CREDIT METRICS/RISK PROFILE

Source: SNL and company reports. Peer medians exclude banks for which data is not yet available.

Peers include BAC, BBT, COF, C, CMA, FHN, HBAN, JPM, KEY, MTB, MI, RF, SNV, STI, USB and ZION.

* Excludes NPAs held-for-sale for all banks.

Credit Metrics

FITB

3Q08

FITB

4Q08

Peer 4Q08

Median

Allowance/Loans

2.41

3.31

+90 bps

2.17

NPLs/Loans*

3.04

2.69

-35 bps

1.81

NPAs/Loans*

3.30

2.96

-34 bps

2.09

Allowance/NPLs*

0.79

1.23

+44 bps

0.93

Allowance/NPAs*

0.73

1.11

+38 bps

0.78

Capital Ratios

Tier 1 Ratio

8.57

10.59

+202 bps

10.81

Tangible Equity/Tangible Assets

6.19

7.86

+167 bps

7.51

Tangible Common Equity/Tangible

Assets

5.23

4.23

-100 bps

4.97

Tangible book value $1.5 billion lower than year-end 2007 after challenging 2008

—

Allowance/reserves for loan losses and unfunded commitments increased $2.0 billion

—

Net reduction of $223 million of combined capital and after-tax reserves, or 3% of year-end

2007 levels

•

Pre-tax pre-provision earnings, before goodwill impairment of $2.9 billion, has been sufficient to

absorb $2.7 billion in net-charge-offs, including $800 million in charge-offs related to loans sold or

moved to held for sale in 4Q08

•

Fifth Third retains virtually all of its pre-2008 loss absorption capacity; preferred shares have added

to that capacity

4Q07

1Q08

2Q08

3Q08

4Q08

2008

Tangible book value

6.5

6.7

5.9

5.8

5.0

(1.5)

Allowance for loan losses

0.9

1.2

1.6

2.1

2.8

1.9

Reserves for unfunded commitments

0.1

0.2

0.1

Total reserves

1.0

1.3

1.7

2.2

3.0

2.0

Total reserves (after-tax)

0.7

0.9

1.1

1.4

1.9

1.3

Tangible book value plus after-tax reserves

7.2

7.6

7.0

7.3

7.0

(0.2)

STRONG CAPACITY TO ABSORB LOSSES

Loss Absorption Capacity:

2008

2008 PTPP Income*

2.9

YE08 Allowance for Loan Losses

2.8

YE08 Tangible Common Equity

5.0

YE08 Preferred stock

4.2

Total

15.3

Current 1Q09 expected net charge-offs ~$0.5 B

* Excluding $965 million in 4Q08 goodwill impairment.

YE08 Purchase Accounting Marks

0.4

•

Capital

plans

and

targets

designed

help

ensure

strong

capital

levels,

positioning

Fifth

Third

absorb

significant

potential

losses

and

provisions

potentially

difficult

environment through 2009

•

Revised

capital

targets

June

2008

order

provide

greater

cushion

•

Strengthened Fifth Third’s capital position through several capital actions intended to

maintain a Tier 1 ratio within or above target range

—

Capital issuances

–

Issued

$1.1

billion

Tier

capital

the

form

convertible

preferred

securities;

achieved new Tier 1 target immediately

–

Completed

the

sale

$3.4

billion

senior

preferred

the

U.S.

Department of the Treasury under the Capital Purchase Program

—

Dividend reductions

–

Reduced quarterly common dividend to $0.01 per share,

conserves approximately $300 million in common equity on a full year basis

STRONG CAPITAL POSITION

N/A

6-7%

7.9%

TE/TA

14.8%

10.6%

4Q08

11.5-12.5%

8-9%

Target

10%

Regulatory

“well-

capitalized”

minimum

Total Capital

Tier 1 Capital

Ratio

CAPITAL PLANS

Expect capital levels to continue to exceed targets near-term in difficult economic

environment

Comfortable with current levels of capital, including tangible common equity (TCE)

ratio

Longer-term, expect to manage company at higher TCE levels

Potential or expected avenues of improvement

—

Stronger earnings as credit cycle subsides

—

Strategic avenues including potential sale of high-value assets

—

Eventual conversion of convertible preferred stock into $1.1 billion in common

equity (stock convertible into 96 million common shares)

STRONG FUNDING POSITION

Fifth Third remains heavily core funded

—

Core deposit growth of $3.5 billion, total

deposit growth of $5.6 billion since July

2008

Flexibility and liquidity further enhanced by

—

Dividend reductions

—

Large capital raise further bolstered

Holding Company cash and capital levels

—

Significant committed lines available to

access secured borrowings against assets

Stable Funding

Highlights

Equity

10%

Other

liabilities

Borrowings

Savings /

MMDA

17%

Interest

Checking

12%

Foreign Office

Non-core

Deposits

10%

Consumer

Time

12%

Demand

13%

Long Term

Debt

11%

Current holding company cash position through

1Q10 sufficient to satisfy all fixed obligations over

the next 24 months

—

debt maturities; common and preferred

dividends; interest and other expenses

without accessing capital markets, relying on

dividends from subsidiaries, or proceeds from asset

sales

$31 million in debt maturities in 2009; none in next

four years

Holding Company Highlights

Significant available borrowing capacity at each

subsidiary bank

Reduction of overnight borrowings through use of

more dependable, less expensive secured facilities

Current unused borrowing capacity under secured

facilities sufficient to fund all unsecured maturities

for over five years

—

Assumes no access to capital markets

Active management to maintain available lines

associated with pledgeable assets to ensure

contingency funding

—

Current unused available borrowing capacity

$17 billion

Bank Sub Highlights

Wholesale

PORTFOLIO PERFORMANCE DRIVERS

Performance Largely Driven By

No Participation In

Subprime mortgages

Option ARMs

Discontinued or Suspended Lending

Discontinued in 2007:

Brokered home equity ($2.3B)

Suspended in 2008:

Homebuilder/residential development ($2.5B)

Other non-owner occupied commercial RE ($8.6B)

Saleability:

All mortgages originated for intended sale

** Residential construction-related consumer mortgages intended to be held in portfolio until permanent financing complete. Jumbo mortgage originations currently

being held due to market conditions.

* Loans remaining in loan portfolio as of December 31, 2008 (data excludes loans held-for-sale)

Geography:

Florida, Michigan most stressed

FY2008 C/O ratio:

Total loan portfolio 3.7%

Commercial portfolio 4.0%

Consumer portfolio 3.3%

Remaining Midwest, Southeast performance reflects

economic trends

FY2008 C/O ratio:

Total loan portfolio 1.7% ex-FL/MI

Commercial portfolio 1.7% ex-FL/MI

Consumer portfolio 1.5% ex-FL/MI

Products:

Homebuilder/developer charge-offs $368 million for FY

2008

Total charge-off ratio 2.3% (1.9% ex-HBs)

Commercial charge-off ratio 2.4% (1.8% ex-HBs)

Brokered home equity charge-offs 4.7% in 4Q08

Direct home equity portfolio 1.0%

86% OF COMMERCIAL LOAN CHARGE-OFFS (BY VALUE) IN

2008 ARE FROM LOANS ORIGINATED BEFORE 2007

2004 & prior

32%

2007

Core*

12%

2008

2007 Crown

2005

23%

2006

25%

Profile of 2008 commercial charge-offs ($) by

obligor vintage

Note: Core excludes acquired portfolios

* Includes a $25MM fraud loss, which accounts for 37% of the core 2007 vintage losses

2006 was the single greatest contributing

year to commercial charge-offs in 2008,

comprising 25% of charge-offs

14% of charge-offs in 2008 from loans

originated in 2007 or later

Loans originated in 2005 and 2006 expected

to continue to account for majority of losses

Highlights

‘HOME BUILDER’

LOANS ACCOUNT FOR 40% OF TOTAL 2008

COMMERCIAL LOSSES, LARGELY FROM LOANS IN FLORIDA

AND MICHIGAN

Other

FL (Other)

31%

42%

(Crown)**

14%

‘Home Builder’

loan losses by

geography

* Home builder loans represent loans extended to home builders

and developers to support residential real estate

** Crown losses were driven by several large home builders significantly exceeding their MTM purchase accounting adjustments

•

Florida and Michigan

account for 37% of the

total homebuilder loan

portfolio but 87% of the

‘home builder’

losses

through December 2008

•

Expected home builder

charge-offs absent any

other credit actions, will

likely remain high in 2009

as residential and land

valuations remain under

stress

•

Suspended new

originations to sector in

2007

•

5% of commercial loans;

< 3% of total gross loans

Highlights

Overview of 2008

commercial loan losses

60%

40%

2008 Losses

Other

‘Home

builder’*

100% = $2.0 BN

2008

2007

2006

OVERVIEW OF ACTIONS TAKEN TO IMPROVE COMMERCIAL

CREDIT PROCESS

Tightened

underwriting

Centralized

underwriting

to drive

consistency

Implemented

concentration

limits

Adopted

aggressive

portfolio

management

•

Created centralized business

banking underwriting channel

at two centers

•

Centralized credit reporting

lines from affiliates

•

Enhanced tracking of

covenant and policy

exceptions

•

Reduced individuals with

business banking override

authority by two-thirds

•

Stopped new originations to

home

builders

•

Adopted new commercial

concentration limits by

geography and asset type

•

Implemented

reduction of

watch and criticized loans

•

Stopped new originations for

non-owner occupied RE

•

Created centralized private

banking credit function

Key actions

•

Sold or transferred to held-

for-sale loans with a

contractual balance of $1.6B

COMMERCIAL PORTFOLIO ACTIONS

Loans identified where sale value

believed to exceed work out value

Portfolio actions reduced risk of further

loss on more problematic loan portfolios

Loans sold or transferred to held-for-

sale reduced to value of approximately

$0.33 on dollar

$440 million, or 55%, of losses were on

homebuilder / developer credits

55% of carrying values on non-accrual

as of 9/30/08; remainder believed to

have significant potential issues

warranting sale

Of the $800 million in 4Q08 losses:

—

93% in Michigan and Florida

—

95% on CRE loans

9/30/2008

Total

Current

Contractual

carrying

4Q08

carrying

($ in millions)

balance

value

charge-offs

value

Sold

240

177

120

Moved to held-for-sale

1,370

1,165

680

473

Total

$1,610

$1,342

$800

$473

NPAs as of 9/30/2008

980

732

474

229

Non-NPAs as of 9/30/2008

630

609

326

244

Total

$1,610

$1,342

$800

$473

Florida

809

670

394

261

Michigan

651

538

354

138

Georgia

North Carolina

Other

106

102

Total

$1,610

$1,342

$800

$473

C&I

Commercial Mortgage

718

625

372

231

Commercial Construction

817

657

389

218

Commercial Lease

Total

$1,610

$1,342

$800

$473

81% OF CONSUMER LOAN CHARGE-OFFS (BY VALUE) IN 2008

ARE FROM LOANS ORIGINATED BEFORE 2007

2006

30%

2005

32%

2007

16%

2008

2004 &

prior

19%

Profile of 2008 consumer charge-offs ($) by

obligor vintage

2005 contributed the largest proportion

(32%) of consumer charge-offs

19% of charge-offs in 2008 from consumer

loans originated in 2007 or later

2005 and 2006 vintages expected to continue

to account for majority of losses in 2009

Highlights

* Excluding credit card.

FITB HAS ADDRESSED THE ORIGINATION SOURCES THAT

LED TO THE MAJORITY OF CONSUMER HOME EQUITY CREDIT

LOSSES

29%

22%

41%

2008 consumer home equity dollar charge-offs

by source/root cause

Targeted actions have addressed the source

of 92% of home equity losses

With these actions in place, relationship-

based underwriting losses would account

for 8% of the total

Similar actions have been taken to address

losses in mortgage portfolio

Highlights

On-going

originations

Addressed

through guideline

restrictions

Retail

broker

HEA

(e.g., increases in

required CLTVs,

FICO scores,

exceptions)

•

Exit/shut-down in Q108

•

Exit/shut-down in Q307

68.4%

75.5%

80.1%

2006

2007

2008

775

761

751

2006

2007

2008

UNDERWRITING ACTIONS HAVE IMPROVED HOME EQUITY

QUALITY

14%

2006

2007

2008

40%

28%

25%

2006

2007

2008

Weighted avg. CLTV (combined loan-to-value)

Weighted avg. FICO score*

% of broker originated loans

% 1

lien position

* At origination

76.3%

80.7%

83.4%

2006

2007

2008

747

729

717

2006

2007

2008

UNDERWRITING ACTIONS SINCE 2006 HAVE SIGNIFICANTLY

IMPROVED ORIGINATION QUALITY IN MORTGAGE

1.5%

2006

2007

2008

16%

2006

2007

2008

Weighted avg. LTV (loan-to-value)

Weighted avg. FICO score*

$ of non-owner occupied home originations

% of lot loan originations

*At origination

Note: 2008 non-owner occupied data is YTD as of September 30, 2008

OVERVIEW OF ACTIONS TAKEN TO IMPROVE CONSUMER

CREDIT PROCESS

Tightened

underwriting

Centralized

underwriting

to drive

consistency

Adopted

aggressive

portfolio

management

•

Established Regional Credit

Centers for direct real estate

and indirect underwriting

•

Reduced from 22

affiliate

mortgage fulfillment centers to

13 centers

•

Began loan modification

program for borrowers,

resulting in 40% cure rate and

~20% re-default rate today

•

Limited exceptions in home

equity, targeting broker and

high LTV segments

•

Limited override authorities to

affiliate presidents, LOB heads

•

Started home equity line

management, reducing

unutilized line exposure by

nearly $1B

•

Reduced from 13

affiliate

mortgage fulfillment centers to

3 centralized centers

•

Centralized underwriting of

auto loans through indirect

channel

•

Tightened home equity

lending collateral and credit

guidelines

•

Reduced policy exception

levels to <5%

•

Ceased brokered home equity

lending

•

Discontinued mortgage spec

lending

•

Revised auto guidelines and

improved risk/return through

pricing changes

•

Implemented new bankcard

scoring model with minimum

FICO of 660

•

Centralized underwriting of

auto loans through direct

channel

•

Adopted 95% mortgage

salability strategy

•

Implemented appraisal review

desk

2008

2007

2006

Key actions

SUMMARY

Solid operating results despite sluggish economy

Significant reduction in credit risk, improvement in coverage ratios

Capital position remains strong in conjunction with credit risk actions

Core funding orientation

Proactive measure to mitigate exposures, tighten credit standards for new

loans, improve operations to contain losses in existing portfolios

CAUTIONARY STATEMENT

This

report

may

contain

forward-looking

statements

about

Fifth

Third

Bancorp

within

the

meaning

Sections

27A

the

Securities

Act

1933,

amended,

and

Rule

175

promulgated

thereunder,

and

21E

the

Securities

Exchange

Act

1934,

amended,

and

Rule

3b-6

promulgated

thereunder,

that

involve

inherent

risks

and

uncertainties.

This

report

may

contain

certain

forward-looking

statements

with

respect

the

financial

condition,

results

operations,

plans,

objectives,

future

performance

and

business

Fifth

Third

Bancorp

including

statements

preceded

by,

followed

that

include

the

words

phrases

such

“believes,”

“expects,”

“anticipates,”

“plans,”

“trend,”

“objective,”

“continue,”

“remain”

similar

expressions

future

conditional

verbs

such

“will,”

“would,”

“should,”

“could,”

“might,”

“can,”

“may”

similar

expressions.

There

are

number

important

factors

that

could

cause

future

results

differ

materially

from

historical

performance

and

these

forward-looking

statements.

Factors

that

might

cause

such

difference

include,

but

are

not

limited

to:

(1)

general

economic

conditions

and

weakening

the

economy,

specifically

the

real

estate

market,

either

national

the

states

which

Fifth

Third,

does

business,

are

less

favorable

than

expected;

(2)

deteriorating

credit

quality;

(3)

political

developments,

wars

other

hostilities

may

disrupt

increase

volatility

securities

markets

other

economic

conditions;

(4)

changes

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

maintain

required

capital

levels

and

adequate

sources

funding

and

liquidity;

(7)

changes

and

trends

capital

markets;

(8)

competitive

pressures

among

depository

institutions

increase

significantly;

(9)

effects

critical

accounting

policies

and

judgments;

(10)

changes

accounting

policies

procedures

may

required

the

Financial

Accounting

Standards

Board

other

regulatory

agencies;

(11)

legislative

regulatory

changes

actions,

significant

litigation,

adversely

affect

Fifth

Third,

the

businesses

which

Fifth

Third,

engaged;

(12)

ability

maintain

favorable

ratings

from

rating

agencies;

(13)

fluctuation

Fifth

Third’s

stock

price;

(14)

ability

attract

and

retain

key

personnel;

(15)

ability

receive

dividends

from

its

subsidiaries;

(16)

potentially

dilutive

effect

future

acquisitions

current

shareholders'

ownership

Fifth

Third;

(17)

effects

accounting

financial

results

one

acquired

entities;

(18)

difficulties

combining

the

operations

acquired

entities;

(19)

lower

than

expected

gains

any

potential

sale

businesses,

(20)

loss

income

from

any

potential

sale

businesses

that

could

have

adverse

effect

Fifth

Third’s

earnings

and

future

growth

(21)

ability

secure

confidential

information

through

the

use

computer

systems

and

telecommunications

networks;

and

(22)

the

impact

reputational

risk

created

these

developments

such

matters

business

generation

and

retention,

funding

and

liquidity.

Additional

information

concerning

factors

that

could

cause

actual

results

differ

materially

from

those

expressed

implied

the

forward-looking

statements

available

the

Bancorp's

Annual

Report

Form

10-K

for

the

year

ended

December

31,

2007,

filed

with

the

United

States

Securities

and

Exchange

Commission

(SEC).

Copies

this

filing

are

available

cost

the

SEC's

Web

site

www.sec.gov

the

Fifth

Third’s

Web

site

www.53.com.

Fifth

Third

undertakes

obligation

release

revisions

these

forward-looking

statements

reflect

events

circumstances

after

the

date

this

report.