Form 8-K

EX-99.1

Investor Update

February 6, 2014

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

Exhibit 99.1

Advantaged size & scope in current environment

Source: SNL Financial. Rankings based on U.S. headquartered commercial banks, excludes trust banks.

Data as of 12/31/13

JPM

BAC

WFC

USB

PNC

COF

BBT

STI

FITB

KEY

MTB

CMA

HBAN

ZION

FRC

FNFG

BPOP

CYN

$2.4T

$2.1T

$320B

$1.9T

$1.5T

$364B

$297B

$182B

$175B

$130B #10

$117B

$93B

$85B

$65B

$59B

$56B

$42B

$38B

$36B

$30B

JPM

BAC

WFC

USB

PNC

COF

STI

BBT

FITB

KEY

MTB

CMA

HBAN

ZION

FRC

BPOP

FNFG

CYN

$1.1T

$221B

$1.1T

$262B

$205B

$130B

$128B

$99B #10

$93B

$69B

$67B

$53B

$48B

$46B

$32B

$27B

$26B

$1.3T

$968B

WFC

JPM

BAC

USB

COF

PNC

BBT

STI

FITB

MTB

KEY

CMA

HBAN

FRC

ZION

SBNY

EWBC

SIVB

$220B

$44B

$165B

$74B

$41B

$26B

$20B

$18B #10

$15B

$14B

$12B

$9B

$8B

$7B

$6B

$5B

$239B

$159B

Diversified financial services company operating in 12 states

Market Capitalization

Total Deposits

Total Assets

Broad scope of products and services

addressing the needs of wide array of customers

Consumer Lending

Branch Banking

Wealth Management

Wholesale Banking

Retail Bank

Cards

Mortgage

Auto

$560MM total revenue

$8.8B average core deposits

$27B assets under

management

$302B assets under care

$2.3B total revenue

$45.1B

average

loans

$27.9B average core

deposits

$2.3B total revenue

$19.8B average loans

1,320 banking centers

2,586 ATMs

12 states

$1.1B total revenue

$22.2B average loans

#12 mortgage originator

(42 states)

#6 bank indirect auto

Private Bank

Retail Brokerage

Institutional Services

Commercial Bank

Footprint

Business

Lines

Highlights

In footprint markets

National consumer lending

In footprint markets

National commercial banking

$2.0B average loans

originator (45 states)

2013: A record year

Return on avg. assets

Net income to common ($MM)

Generated highest level of net

income in Company’s history

Improving profitability approaching

target for normalized environment

Net charge-off ratio

Problem assets at lowest

levels in five years

Tier 1 common ratio

ALLL / NPLs

Coverage levels among

strongest the industry

Capital ratios strong and above

regulatory well-capitalized levels

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

100% of

gains

45% of

earnings

ex-Vantiv

gains

26% of

earnings

ex-Vantiv

gains

0.64%

0.67%

1.15%

1.34%

1.48%

2009

2010

2011

2012

2013

$511

$503

$1,094

$1,541

$1,799

2009

2010

2011

2012

2013

3.20%

3.02%

1.49%

0.85%

0.58%

2009

2010

2011

2012

2013

7.0%

7.5%

9.4%

9.5%

9.4%

2009

2010

2011

2012

2013

127%

179%

157%

180%

211%

2009

2010

2011

2012

2013

23%

21%

23%

31%

39%

11%

12%

2009

2010

2011

2012

2013

Common Dividends

Declared

Share Repurchases

ex-Vantiv

Share Repurchases

Vantiv

Disciplined expense management

Expense trend ($MM)

Operating leverage is a strategic priority in all environments

Efficiency ratio trend

Reported expense

$1,163

$978

$1,035

$959

$989

Adjusted

expense

$1,013

$972

$985

$920

$896

$500

$600

$700

$800

$900

$1,000

$1,100

$1,200

4Q12

1Q13

2Q13

3Q13

4Q13

65%

60%

53%

59%

62%

61%

60%

59%

4Q12

1Q13

2Q13

3Q13

4Q13

Efficiency ratio

Adjusted efficiency ratio

•

Mid-50% efficiency ratio target

Significant items reflected in “Adjusted expense” and “Adjusted efficiency ratio” for all quarters listed on page 11 in the appendix.

•

Current efficiency ratio reflects below-

capacity balance sheet and lower

revenue than we expect and can

support longer term

–

Normalized interest rate environment

Capital management –

core focus

Tier 1 common equity

$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 at

approximately

current levels, managed with share

repurchases and targeting 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)

9.5%

9.7%

9.4%

9.9%

9.4%

10%

4Q12

1Q13

2Q13

3Q13

4Q13

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

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.

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

billion¹

enterprise

value

Note payable to

Fifth Third Bank

subsidiaries

Equity

value

•

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

$115

$484

$340

$213

Gain on IPO

Gains on share

sales

Net put and

warrant

valuation gains

Equity method

Earnings

83.9

70.2

48.8

$10

$20

$30

$40

$50

$60

$70

2011

2012

2013

Class B shares (MM)

Equity method earnings ($MM)

$1.10B

$1.25B

Enterprise Value Components

Before Fifth Third’s valuation of warrants, put rights, and minority interest discounts expected to reduce its implied valuation of the business by an estimated $50 million.

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

Total gains/earnings recognized ~$3 billion

•

Pre-tax gain of $1.8B

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 business

•

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

Pre-tax pre-provision earnings

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

$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

($ 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

Adjustments

remove

(benefit)

detriment

In noninterest income:

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)

In noninterest expense:

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

Credit-related

items:

In noninterest income

In noninterest expense

(12)

Credit-adjusted

PPNR

$722

$642

$673

$624

$616

Non-GAAP measure; see Reg. G reconciliation on following pages.

Prior quarters include similar adjustments.

There are limitations on the usefulness of credit-adjusted PPNR, including the significant degree to which changes in credit and fair value are integral, recurring components of the

Bancorp’s core operations as a financial institution. This measure has been included herein to facilitate a greater understanding of the Bancorp’s financial condition.

Note: 4Q13 and 3Q13 also included benefits to the mortgage repurchase provision of $28MM and $4MM, respectively. 2Q13, 1Q13, and 4Q12 also included the impact of $47MM,

$30MM, and $21MM in mortgage repurchase provision, respectively. These impacts are reflected in “Credit-related items” listed above.

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 1 common equity ratio under final Basel III rules (opt out) (c) / (e)

9.01%

9.47%

Estimated Tier 1 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


Fifth Third Center
38 Fountain Square Plaza, Cincinnati, Ohio		45263
(Address of Principal Executive Offices)		(Zip Code)


		FIFTH THIRD BANCORP
		(Registrant)

February 6, 2014		/s/ Tayfun Tuzun
		Tayfun Tuzun
		Executive Vice President and
		Chief Financial Officer