8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 20, 2016

(Exact Name of Registrant as Specified in Its Charter)

OHIO

(State or Other Jurisdiction of Incorporation)

001-33653	31-0854434
(Commission File Number)	(IRS Employer Identification No.)
Fifth Third Center 38 Fountain Square Plaza, Cincinnati, Ohio	45263
(Address of Principal Executive Offices)	(Zip Code)

(800) 972-3030

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On October 20, 2016 Fifth Third Bancorp issued a press release and its quarterly financial supplement announcing its earnings release for the third quarter of 2016. A copy of this press release and its quarterly financial supplement are attached as Exhibits 99.1 and 99.3, respectively. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01 Regulation FD Disclosure

On October 20, 2016 Fifth Third Bancorp issued a press release and its quarterly financial supplement announcing its earnings release for the third quarter of 2016. A copy of this press release and its quarterly financial supplement are attached as Exhibits 99.1 and 99.3, respectively. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

For the benefit of its investors, Fifth Third Bancorp is furnishing information regarding its earnings conference call. A copy of this item is attached as Exhibit 99.2. The information in this Form 8-K and Exhibit attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 – Press release dated October 20, 2016

Exhibit 99.2 – Third Quarter Earnings Conference Call

Exhibit 99.3 – Quarterly Financial Supplement

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 hereunto duly authorized.

	FIFTH THIRD BANCORP
	(Registrant)
October 20, 2016	/s/ Tayfun Tuzun
	Tayfun Tuzun
	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

		News Release
CONTACTS:	Sameer Gokhale (Investors)	FOR IMMEDIATE RELEASE
	(513) 534-2219	October 20, 2016
	Larry Magnesen (Media)
	(513) 534-8055

FIFTH THIRD ANNOUNCES THIRD QUARTER 2016 NET INCOME TO COMMON SHAREHOLDERS OF $501 MILLION, OR $0.65 PER DILUTED SHARE

• 3Q16 net income available to common shareholders of $501 million, or $0.65 per diluted common share

• Reported results included the following items which had a net positive $0.22 impact on reported 3Q16 EPS:

• A $280 million pre-tax (~$182 million after-tax) gain from the termination and settlement of gross cash flows from existing Vantiv tax receivable agreements (TRA) and the expected obligation to terminate and settle the remaining TRA cash flows upon the exercise of put or call options

• A $28 million pre-tax (~$18 million after-tax) non-cash impairment charge related to previously announced plans to sell or consolidate certain bank branches and land acquired for future branch expansion

• A $12 million pre-tax (~$8 million after-tax) charge related to the valuation of the Visa total return swap

• An $11 million pre-tax (~$7 million after-tax) gain on the sale of a non-branch facility

• A $9 million pre-tax (~$6 million after-tax) charge from the transfer of certain nonconforming investments affected by the Volcker Rule to held-for-sale

• An $8 million beneficial tax impact in connection with certain commercial lease terminations

• 3Q16 return on average assets (ROA) of 1.44%; return on average common equity of 12.8%; return on average tangible common equity** of 15.2%

• Pre-tax income of $694 million and pre-provision net revenue (PPNR)** of $774 million in 3Q16

• Net interest income (NII) of $907 million and NII on a fully taxable equivalent (FTE) basis** of $913 million, up 1 percent from both 2Q16 and 3Q15; net interest margin (on an FTE basis)** of 2.88%, flat sequentially and down 1 bp year-over-year

• Average portfolio loans and leases of $93.5 billion, down $420 million sequentially and up $138 million from 3Q15; Period end portfolio loans and leases of $93.2 billion decreased $758 million sequentially and $423 million from 3Q15 primarily driven by decreases in automobile, C&I, and home equity loans

• Noninterest income of $840 million compared with $599 million in the prior quarter; primarily driven by the gain from the termination and settlement of the Vantiv tax receivable agreement and other items previously mentioned

• Noninterest expense of $973 million was $10 million, or 1 percent, lower than the prior quarter primarily driven by lower compensation and benefit-related expenses and lower card and processing expense

• Credit trends

• 3Q16 net charge-offs of $107 million (0.45% of loans and leases) increased from 2Q16 NCOs of $87 million (0.37% of loans and leases)

• Portfolio nonperforming asset (NPA) ratio of 0.73% down 13 bps from 2Q16, nonperforming loan (NPL) ratio of 0.63% down 11 bps from 2Q16; total NPAs of $783 million, including loans held-for-sale (HFS), decreased $42 million sequentially

• 3Q16 provision expense of $80 million; $91 million in 2Q16 and $156 million in 3Q15

• Strong capital ratios*

• Common equity Tier 1 (CET1) ratio 10.16%; fully phased-in CET1 ratio** of 10.08%

• Tier 1 risk-based capital ratio 11.26%, Total risk-based capital ratio 14.87%, Leverage ratio 9.80%

• Tangible common equity ratio of 9.24%**; 8.78%** excluding unrealized gains/losses

• 11 million reduction in common shares outstanding during the quarter due to the $240 million accelerated share repurchase transaction initially settled on August 5, 2016

• Book value per share of $20.44 up 2% from 2Q16 and up 12% from 3Q15; tangible book value per share** of $17.22 up 2% from 2Q16 and up 13% from 3Q15

* Capital ratios estimated; presented under current U.S. capital regulations.

** Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

Fifth Third Bancorp (Nasdaq: FITB) today reported third quarter 2016 net income of $516 million versus net income of $333 million in the second quarter of 2016 and $381 million in the third quarter of 2015. After preferred dividends, net income available to common shareholders was $501 million, or $0.65 per diluted share, in the third quarter of 2016, compared with $310 million, or $0.40 per diluted share, in the second quarter of 2016, and $366 million, or $0.45 per diluted share, in the third quarter of 2015.

Third quarter 2016 included:

Income

• $280 million gain from the termination and settlement of gross cash flows from existing Vantiv tax receivable agreements (TRA) and the expected obligation to terminate and settle the remaining TRA cash flows upon the exercise of put or call options

• $11 million gain on the sale of a non-branch facility

• ($28 million) non-cash impairment charge related to previously announced plans to sell or consolidate certain bank branches and land acquired for future branch expansion

• ($12 million) charge related to the valuation of the Visa total return swap

• ($9 million) charge from the transfer of certain nonconforming investments affected by the Volcker Rule to held-for-sale

• ($2 million) negative valuation adjustment on the Vantiv warrant

Expense

• ($4 million) in severance expense

Results also included an $8 million beneficial tax impact in connection with certain commercial lease terminations

Second quarter 2016 included:

Income

• $19 million positive valuation adjustment on the Vantiv warrant

• $11 million gain on sale of Pennsylvania branches as part of the previously announced branch consolidation and sales plan

• $11 million gain on the sale of the non-strategic agented bankcard loan portfolio

• ($50 million) charge related to the valuation of the Visa total return swap, primarily reflecting the rejection of the merchant litigation settlement

Expense

• ($9 million) in compensation-related expenses due to retirement eligibility changes

• ($3 million) in severance expense

Third quarter 2015 included:

Income

• $130 million positive valuation adjustment on the Vantiv warrant

• ($8 million) charge related to the valuation of the Visa total return swap

Expense

• ($9 million) charge associated with executive retirement and severance costs

Results also included $35 million of provision expense related to the restructuring of a student loan backed commercial credit originally extended in 2007.

2

Earnings Highlights

	For the Three Months Ended										% Change
	September		June		March		December		September
	2016		2016		2016		2015		2015		Seq		Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	516	$	333	$	327	$	657	$	381		55%		35%
Net income available to common shareholders	$	501	$	310	$	312	$	634	$	366		62%		37%
Common Share Data
Earnings per share, basic	$	0.66	$	0.40	$	0.40	$	0.80	$	0.46		65%		43%
Earnings per share, diluted		0.65		0.40		0.40		0.79		0.45		63%		44%
Cash dividends per common share		0.13		0.13		0.13		0.13		0.13		—		—
Financial Ratios
Return on average assets		1.44%		0.94%		0.93%		1.83%		1.07%		53%		35%
Return on average common equity		12.8		8.2		8.3		17.2		10.0		56%		28%
Return on average tangible common equity(b)		15.2		9.7		9.9		20.6		12.0		57%		27%
CET1 capital(c)		10.16		9.94		9.81		9.82		9.40		2%		8%
Tier I risk-based capital(c)		11.26		11.03		10.91		10.93		10.49		2%		7%
CET1 capital (fully-phased in)(b)(c)		10.08		9.86		9.72		9.72		9.30		2%		8%
Net interest margin(a)(b)		2.88		2.88		2.91		2.85		2.89		—		—
Efficiency(a)(b)		55.5		65.3		63.8		48.0		58.2		(15%)		(5%)
Common shares outstanding (in thousands)		755,582		766,346		770,471		785,080		795,439		(1%)		(5%)
Average common shares outstanding (in thousands):
Basic		750,886		759,105		773,564		784,855		795,793		(1%)		(6%)
Diluted		757,456		765,080		778,392		794,481		805,023		(1%)		(6%)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

(c) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets used in the calculation of the tier I risk-based capital and common equity tier 1 ratios. Current period regulatory capital ratios are estimated.

NA: Not applicable.

“Our third quarter results were strong despite the tepid economic environment. Higher net interest income, stable underlying fee revenue, and lower expenses helped us achieve improved returns for our shareholders,” said Greg D. Carmichael, President and CEO of Fifth Third Bancorp.

“During the quarter, we executed on several initiatives which will help us continue to drive improved shareholder returns. While we continue to invest in areas like technology, we plan to improve our operating leverage through an ongoing review of expenses in all business units and staff functions and renegotiations of key vendor contracts. In September, we announced the plan to sell and consolidate certain bank branches which will generate additional operating efficiency.

“We remain focused on improving our profitability without relying on the expectation that economic conditions will improve. We recently launched Project North Star, which has aligned the entire organization toward reaching this objective. Through Project North Star, controlled expenses, opportunities to enhance fee revenue, and actions to optimize the balance sheet should help us achieve our long-term financial targets.”

3

Income Statement Highlights

	For the Three Months Ended										% Change
	September		June		March		December		September
	2016		2016		2016		2015		2015		Seq		Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)(a)	$	913	$	908	$	909	$	904	$	906		1%		1%
Provision for loan and lease losses		80		91		119		91		156		(12%)		(49%)
Total noninterest income		840		599		637		1,104		713		40%		18%
Total noninterest expense		973		983		986		963		943		(1%)		3%
Income before income taxes (taxable equivalent)(a)	$	700	$	433	$	441	$	954	$	520		62%		35%
Taxable equivalent adjustment		6		6		6		5		5		—		20%
Applicable income tax expense		178		98		108		292		134		82%		33%
Net income	$	516	$	329	$	327	$	657	$	381		57%		35%
Less: Net income attributable to noncontrolling interests		—		(4)		—		—		—		100%		—
Net income attributable to Bancorp	$	516	$	333	$	327	$	657	$	381		55%		35%
Dividends on preferred stock		15		23		15		23		15		(35%)		—
Net income available to common shareholders	$	501	$	310	$	312	$	634	$	366		62%		37%
Earnings per share, diluted	$	0.65	$	0.40	$	0.40	$	0.79	$	0.45		63%		44%

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

4

Net Interest Income

	For the Three Months Ended										% Change
	September		June		March		December		September
	2016		2016		2016		2015		2015		Seq		Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)(a)	$	1,063	$	1,052	$	1,044	$	1,035	$	1,031		1%		3%
Total interest expense		150		144		135		131		125		4%		20%
Net interest income (taxable equivalent)(a)	$	913	$	908	$	909	$	904	$	906		1%		1%
Average Yield											bps Change
Yield on interest-earning assets (taxable equivalent)		3.36%		3.34%		3.34%		3.26%		3.29%		2		7
Rate paid on interest-bearing liabilities		0.70%		0.67%		0.64%		0.61%		0.58%		3		12
Net interest rate spread (taxable equivalent)		2.66%		2.67%		2.70%		2.65%		2.71%		(1)		(5)
Net interest margin (taxable equivalent)(a)		2.88%		2.88%		2.91%		2.85%		2.89%		—		(1)
Average Balances ($ in millions)											% Change
Loans and leases, including held for sale	$	94,417	$	94,807	$	94,078	$	94,587	$	94,329		—		—
Total securities and other short-term investments		31,675		32,040		31,573		31,256		30,102		(1%)		5%
Total interest-earning assets		126,092		126,847		125,651		125,843		124,431		(1%)		1%
Total interest-bearing liabilities		85,193		86,145		85,450		85,381		85,171		(1%)		—
Bancorp shareholders’ equity		16,883		16,584		16,376		15,982		15,815		2%		7%

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

Net interest income of $907 million and net interest income (FTE)* of $913 million both increased $5 million from the second quarter of 2016, primarily driven by improving investment portfolio yields, an increase in 1-month LIBOR, and day count, partially offset by the full quarter impact of $1.25 billion of unsecured debt issued in the second quarter and lower average C&I loan balances.

The net interest margin (FTE)* was 2.88 percent, stable from the previous quarter, as the impact of higher yielding investments and an increase in 1-month LIBOR were offset by the full quarter impact of the debt issuance and day count.

Compared to the third quarter of 2015, net interest income and net interest income (FTE)* increased by $6 million and $7 million, respectively. The net interest margin (FTE)* decreased by 1 bp year-over-year. The increase in net interest income was driven by the impact of higher investment securities balances, as well as short-term market rate improvements from the December 2015 Fed funds rate increase. The decrease in the net interest margin from the prior year was primarily driven by an increase in long-term debt, lower commercial loan yields, and a decrease in cash flow hedges, partially offset by the December 2015 Fed funds rate increase.

Securities

Average securities and other short-term investments were $31.7 billion in the third quarter of 2016 compared to $32.0 billion in the previous quarter and $30.1 billion in the third quarter of 2015. Average balances of other short-term investments decreased by $126 million sequentially to $1.8 billion.

* Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 33.

5

Loans

	For the Three Months Ended										% Change
	September		June		March		December		September
	2016		2016		2016		2015		2015		Seq		Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	43,116	$	43,876	$	43,089	$	43,154	$	43,149		(2%)		—
Commercial mortgage loans		6,888		6,831		6,886		7,032		7,023		1%		(2%)
Commercial construction loans		3,848		3,551		3,297		3,141		2,965		8%		30%
Commercial leases		3,962		3,898		3,874		3,839		3,846		2%		3%
Total commercial loans and leases	$	57,814	$	58,156	$	57,146	$	57,166	$	56,983		(1%)		1%
Consumer:
Residential mortgage loans	$	14,455	$	14,046	$	13,788	$	13,504	$	13,144		3%		10%
Home equity		7,918		8,054		8,217		8,360		8,479		(2%)		(7%)
Automobile loans		10,508		10,887		11,283		11,670		11,877		(3%)		(12%)
Credit card		2,165		2,134		2,179		2,218		2,277		1%		(5%)
Other consumer loans and leases		651		654		662		676		613		—		6%
Total consumer loans and leases	$	35,697	$	35,775	$	36,129	$	36,428	$	36,390		—		(2%)
Total average portfolio loans and leases	$	93,511	$	93,931	$	93,275	$	93,594	$	93,373		—		—
Average loans held for sale	$	906	$	876	$	803	$	993	$	956		3%		(5%)

Average loan and lease balances (excluding loans held-for-sale) decreased $420 million sequentially and increased $138 million from the third quarter of 2015. The sequential decrease was primarily driven by declines in commercial and industrial (C&I) and automobile loans, partially offset by an increase in residential mortgage and commercial construction loans. The year-over-year increase in average loans and leases was driven by increased residential mortgage and commercial construction, partially offset by decreases in automobile and home equity loans. Period end loans and leases (excluding loans held-for-sale) of $93.2 billion decreased $758 million sequentially and $423 million from a year ago. The decrease sequentially was primarily due to decreases in automobile and C&I loans, partially offset by increases in residential mortgage and commercial construction loans. The year-over-year decline was primarily driven by decreases in automobile and home equity loans, partially offset by increases in residential mortgage and commercial construction loans.

Average commercial portfolio loan and lease balances decreased $342 million, or 1 percent, sequentially and increased $831 million, or 1 percent, from the third quarter of 2015. Average C&I loans decreased $760 million, or 2 percent, from the prior quarter and were flat from the third quarter of 2015. Average commercial real estate loans increased $354 million, or 3 percent, from the prior quarter and increased $748 million, or 7 percent, from the third quarter of 2015. Within commercial real estate, average commercial mortgage balances increased $57 million and average commercial construction balances increased $297 million sequentially. Commercial line usage, on an end of period basis, decreased 57 bps from the second quarter of 2016 and decreased 69 bps from the third quarter of 2015.

6

Average consumer portfolio loan and lease balances decreased $78 million, sequentially and decreased $693 million, or 2 percent, from the third quarter of 2015. This was primarily driven by average automobile loans which decreased 3 percent sequentially and 12 percent from a year ago. Average residential mortgage loans increased 3 percent sequentially and 10 percent from the previous year. Average home equity loans declined 2 percent sequentially and 7 percent from the third quarter of 2015. Average credit card loans increased 1 percent sequentially and decreased 5 percent from the third quarter of 2015.

Deposits

	For the Three Months Ended										% Change
	September		June		March		December		September
	2016		2016		2016		2015		2015		Seq		Yr/Yr
Average Deposits ($ in millions)
Demand	$	35,918	$	35,912	$	35,201	$	36,254	$	35,231		—		2%
Interest checking		24,475		24,714		25,740		25,296		25,590		(1%)		(4%)
Savings		14,232		14,576		14,601		14,615		14,868		(2%)		(4%)
Money market		19,706		19,243		18,655		18,775		18,253		2%		8%
Foreign office(a)		524		484		483		736		718		8%		(27%)
Total transaction deposits	$	94,855	$	94,929	$	94,680	$	95,676	$	94,660		—		—
Other time		4,020		4,044		4,035		4,052		4,057		(1%)		(1%)
Total core deposits	$	98,875	$	98,973	$	98,715	$	99,728	$	98,717		—		—
Certificates - $100,000 and over		2,768		2,819		2,815		3,305		2,924		(2%)		(5%)
Other		749		467		—		7		222		60%		NM
Total average deposits	$	102,392	$	102,259	$	101,530	$	103,040	$	101,863		—		1%

(a) Includes commercial customer Eurodollar sweep balances for which the Bancorp pays rates comparable to other commercial deposit accounts.

Average core deposits decreased $98 million sequentially but increased $158 million from the third quarter of 2015. Average transaction deposits decreased $74 million from the second quarter of 2016 and increased $195 million from the third quarter of 2015. Sequential performance was primarily driven by lower savings and interest checking account balances, partially offset by higher money market account balances. The year-over-year increase was primarily driven by higher money market and demand deposit account balances, partially offset by lower interest checking, savings and foreign office account balances. Other time deposits decreased 1 percent sequentially and year-over-year. Average deposit balances were affected by the full quarter impact of $302 million in deposits from the sale of Pennsylvania branches in April of 2016. Excluding the impact of the branch sales in Pennsylvania and St. Louis, average core deposits were flat sequentially and up 1 percent from the third quarter of 2015.

Average commercial transaction deposits of $44 billion were flat sequentially and decreased 4 percent from the third quarter of 2015. The year-over-year decline reflected lower interest checking, savings, and foreign office account balances, partially offset by higher demand deposit account balances.

Average consumer transaction deposits of $51 billion were flat sequentially and increased 4 percent from the third quarter of 2015. Year-over-year growth was driven by higher money market and interest checking account balances, partially offset by lower savings account balances.

7

Wholesale Funding

	For the Three Months Ended										% Change
	September 2016		June 2016		March 2016		December 2015		September 2015		Seq		Yr/Yr
Average Wholesale Funding ($ in millions)
Certificates - $100,000 and over	$	2,768	$	2,819	$	2,815	$	3,305	$	2,924		(2%)		(5%)
Other deposits		749		467		—		7		222		60%		NM
Federal funds purchased		446		693		608		1,182		1,978		(36%)		(77%)
Other short-term borrowings		2,171		3,754		3,564		1,675		1,897		(42%)		14%
Long-term debt		16,102		15,351		14,949		15,738		14,664		5%		10%
Total average wholesale funding	$	22,236	$	23,084	$	21,936	$	21,907	$	21,685		(4%)		3%

Average wholesale funding of $22.2 billion decreased $848 million, or 4 percent, sequentially, and increased $551 million, or 3 percent, compared with the third quarter of 2015. The sequential decrease in average wholesale funding was primarily driven by the declines in short-term borrowings reflecting the decline in interest-earning assets. The year-over-year increase reflected an increase in long-term debt to fund the growth in interest-earning assets.

Noninterest Income

	For the Three Months Ended										% Change
	September 2016		June 2016		March 2016		December 2015		September 2015		Seq		Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	143	$	138	$	137	$	144	$	145		4%		(1%)
Corporate banking revenue		111		117		102		104		104		(5%)		7%
Mortgage banking net revenue		66		75		78		74		71		(12%)		(7%)
Wealth and asset management revenue		101		101		102		102		103		—		(2%)
Card and processing revenue		79		82		79		77		77		(4%)		3%
Other noninterest income		336		80		136		602		213		NM		58%
Securities gains, net		4		6		3		1		—		(33%)		100%
Total noninterest income	$	840	$	599	$	637	$	1,104	$	713		40%		18%

Noninterest income of $840 million increased $241 million sequentially and increased $127 million compared with prior year results. The sequential and year-over-year comparisons reflect the impacts described below.

8

Noninterest Income excluding certain items

	For the Three Months Ended						% Change
	September 2016		June 2016		September 2015		Seq		Yr/Yr
Noninterest Income excluding certain items ($ in millions)
Noninterest income (U.S. GAAP)	$	840	$	599	$	713
Gain from termination and settlement of Vantiv TRA and the expected obligation to terminate and settle the remaining TRA cash flows upon exercise of put or call options		(280)		—		—
Gain on sale of a non-branch facility		(11)		—		—
Vantiv warrant valuation		2		(19)		(130)
Transfer of certain nonconforming investments under Volcker to HFS		9		—		—
Valuation of Visa total return swap		12		50		8
Branch / land impairment charge		28		—		—
Gain on sale of certain branches		—		(11)		—
Gain on sale of the non-strategic agented bankcard loan portfolio		—		(11)		—
Securities (gains) / losses		(4)		(6)		—
Noninterest income excluding certain items(a)	$	596	$	602	$	591		(1%)		1%

(a) Non-GAAP measure; see discussion of non-GAAP on page 33

Excluding the items in the table above, noninterest income of $596 million decreased $6 million, or 1 percent, from the previous quarter and increased $5 million, or 1 percent, from the third quarter of 2015. The sequential decrease was primarily due to the change in net mortgage servicing rights (MSR) valuation adjustments and corporate banking revenue, partially offset by an increase in service charges on deposits. The year-over-year increase was driven by increases in corporate banking revenue and card and processing revenue.

Service charges on deposits of $143 million increased 4 percent from the second quarter of 2016, and decreased 1 percent compared with the same quarter last year. The sequential increase primarily reflected a 6 percent increase in retail service charges due to seasonally higher overdraft occurrences, as well as a 3 percent increase in commercial service charges. The decrease from the third quarter of 2015 was primarily due to a 6 percent decrease in retail service charges due lower checking fees driven by a change in product offering.

Corporate banking revenue of $111 million decreased $6 million compared to the second quarter of 2016 and increased $7 million from the third quarter of 2015. The sequential comparison reflects decreases in loan syndication revenue and foreign exchange fees, partially offset by an increase in institutional sales revenue. The year-over-year increase was primarily driven by higher institutional sales revenue and loan syndication revenue, partially offset by lower foreign exchange fees and interest rate derivative fees.

9

Mortgage banking net revenue was $66 million in the third quarter of 2016, down $9 million from the second quarter of 2016 and down $5 million from the third quarter of 2015. Originations were $2.9 billion in the current quarter, increasing 7 percent sequentially and 27 percent from the same quarter last year. Third quarter 2016 originations resulted in $61 million of origination fees and gains on loan sales, compared with $54 million during the previous quarter and $46 million during the third quarter of 2015. Mortgage servicing fees were $49 million this quarter, $50 million in the second quarter of 2016, and $54 million in the third quarter of 2015. Mortgage banking net revenue is also affected by net servicing asset valuation adjustments, which include MSR amortization and MSR valuation adjustments (including mark-to-market adjustments on free-standing derivatives used to economically hedge the MSR portfolio). These adjustments resulted in a negative $44 million in the third quarter of 2016 (reflecting MSR amortization of $35 million and net MSR valuation adjustments of negative $9 million); negative $29 million in the second quarter of 2016 (MSR amortization of $35 million and net MSR valuation adjustments of positive $6 million); and negative $29 million in the third quarter of 2015 (MSR amortization of $37 million and net MSR valuation adjustments of positive $8 million). The mortgage servicing asset, net of the valuation reserve, was $619 million at quarter end on a servicing portfolio of $55 billion.

Wealth and asset management revenue of $101 million was flat from the second quarter of 2016 and decreased 2 percent from the third quarter of 2015. The year-over-year decline was primarily driven by lower securities and brokerage fees, partially offset by an increase in personal asset management fees.

Card and processing revenue of $79 million in the third quarter of 2016 decreased 4 percent sequentially and increased 3 percent from the third quarter of 2015. The sequential decrease reflected a decline in the number of actively used cards and lower spend volume. The year-over-year increase reflected an increase in customer transactions and a higher number of actively used cards.

Other noninterest income totaled $336 million in the third quarter of 2016, compared with $80 million in the previous quarter and $213 million in the third quarter of 2015. As previously described, the results included the adjustments in the table on page 9 with the exception of securities gains in all comparable periods. Excluding these items, other noninterest income of $96 million increased approximately $7 million, or 8 percent, from the second quarter of 2016 and increased approximately $5 million, or 5 percent, from the third quarter of 2015.

Net gains on investment securities were $4 million in the third quarter of 2016, compared with $6 million in the previous quarter and an immaterial gain in the third quarter of 2015.

10

Noninterest Expense

	For the Three Months Ended										% Change
	September 2016		June 2016		March 2016		December 2015		September 2015		Seq			Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	400	$	407	$	403	$	386	$	387		(2	%)		3	%
Employee benefits		78		85		100		74		72		(8	%)		8	%
Net occupancy expense		73		75		77		83		77		(3	%)		(5	%)
Technology and communications		62		60		56		59		56		3	%		11	%
Equipment expense		29		30		30		32		31		(3	%)		(6	%)
Card and processing expense		30		37		35		40		40		(19	%)		(25	%)
Other noninterest expense		301		289		285		289		280		4	%		8	%
Total noninterest expense	$	973	$	983	$	986	$	963	$	943		(1	%)		3	%

Noninterest expense of $973 million declined $10 million, or 1 percent, compared with the second quarter of 2016 and increased $30 million, or 3 percent, compared with the third quarter of 2015. The sequential comparison reflected a decrease in compensation-related expenses and employee benefits resulting from the impact of the second quarter of 2016 retirement eligibility change, the previously disclosed review of business units and staff functions, as well as reduced card and processing expense. The year-over-year increase reflected higher compensation expense as a result of personnel additions primarily in risk and compliance and information technology, as well as the change in provision for unfunded commitments. This increase was partially offset by a decrease in card and processing expense primarily due to contract renegotiations and $6 million in executive retirement expense in the third quarter of 2015.

Credit Quality

	For the Three Months Ended
	September 2016		June 2016		March 2016		December 2015		September 2015
Total net losses charged-off ($ in millions)
Commercial and industrial loans	($	61)	($	39)	($	46)	($	30)	($	128)
Commercial mortgage loans		(2)		(6)		(6)		(3)		(11)
Commercial construction loans		—		—		—		—		(3)
Commercial leases		—		(1)		(2)		(1)		—
Residential mortgage loans		(2)		(2)		(2)		(3)		(3)
Home equity		(7)		(6)		(8)		(9)		(9)
Automobile loans		(9)		(8)		(9)		(9)		(7)
Credit card		(20)		(21)		(20)		(19)		(21)
Other consumer loans and leases		(6)		(4)		(3)		(6)		(6)
Total net losses charged-off	($	107)	($	87)	($	96)	($	80)	($	188)
Total losses charged-off	($	137)	($	105)	($	116)	($	105)	($	209)
Total recoveries of losses previously charged-off		30		18		20		25		21
Total net losses charged-off	($	107)	($	87)	($	96)	($	80)	($	188)
Ratios (annualized)
Net losses charged-off as a percent of average portfolio loans and leases (excluding held for sale)		0.45%		0.37%		0.42%		0.34%		0.80%
Commercial		0.43%		0.32%		0.38%		0.24%		0.99%
Consumer		0.49%		0.45%		0.48%		0.49%		0.51%

11

Net charge-offs were $107 million, or 45 bps of average portfolio loans and leases on an annualized basis, in the third quarter of 2016 compared with net charge-offs of $87 million, or 37 bps, in the second quarter of 2016 and $188 million, or 80 bps, in the third quarter of 2015. Net charge-offs in the third quarter of 2015 included $102 million related to the restructuring of a student loan backed commercial credit originally extended in 2007. Excluding this credit, net charge-offs were $86 million, or 37 bps, in the third quarter of 2015.

Commercial net charge-offs were $63 million, or 43 bps, and were up $17 million sequentially. The increase was primarily due to higher charge-offs of C&I loans, which increased by $22 million from the second quarter of 2016. Commercial real estate net charge-offs were down $4 million from the previous quarter.

Consumer net charge-offs were $44 million, or 49 bps, and were up $3 million sequentially. Compared with the previous quarter, net charge-offs on residential mortgage loans in the portfolio were flat and net charge-offs on the home equity portfolio increased $1 million. Net charge-offs on the auto portfolio were up $1 million and net charge-offs on credit card loans were down $1 million from the second quarter of 2016. Net charge-offs on other consumer loans of $6 million were up $2 million sequentially.

	For the Three Months Ended
	September		June		March		December		September
	2016		2016		2016		2015		2015
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	1,299	$	1,295	$	1,272	$	1,261	$	1,293
Total net losses charged-off		(107)		(87)		(96)		(80)		(188)
Provision for loan and lease losses		80		91		119		91		156
Allowance for loan and lease losses, ending	$	1,272	$	1,299	$	1,295	$	1,272	$	1,261
Reserve for unfunded commitments, beginning	$	151	$	144	$	138	$	134	$	132
Provision for unfunded commitments		11		7		6		4		2
Reserve for unfunded commitments, ending	$	162	$	151	$	144	$	138	$	134
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,272	$	1,299	$	1,295	$	1,272	$	1,261
Reserve for unfunded commitments		162		151		144		138		134
Total allowance for credit losses	$	1,434	$	1,450	$	1,439	$	1,410	$	1,395
Allowance for loan and lease losses ratio
As a percent of portfolio loans and leases		1.37%		1.38%		1.38%		1.37%		1.35%
As a percent of nonperforming loans and leases(a)		217%		188%		185%		252%		275%
As a percent of nonperforming assets(a)		186%		161%		157%		197%		208%

(a) Excludes nonaccrual loans in loans held for sale.

Provision for loan and lease losses totaled $80 million in the third quarter of 2016. The allowance represented 1.37 percent of total portfolio loans and leases outstanding as of quarter end, compared with 1.38 percent last quarter, and represented 217 percent of nonperforming loans and leases, and 186 percent of nonperforming assets.

Provision for loan and lease losses decreased $11 million from the second quarter of 2016 impacted by improving nonperforming loans and criticized assets and decreased $76 million from the third quarter of 2015 impacted by improving criticized assets. The third quarter of 2015 included a $35 million impact related to the aforementioned student loan backed commercial credit. The allowance for loan and lease losses decreased $27 million sequentially. As of September 30, the reserve allocated to the energy portfolio was approximately 4.95%, down from approximately 5.97% last quarter.

12

	As of
	September 2016		June 2016		March 2016		December 2015		September 2015
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	220	$	254	$	278	$	82	$	47
Commercial mortgage loans		31		39		51		56		60
Commercial construction loans		—		—		—		—		—
Commercial leases		—		4		4		—		2
Residential mortgage loans		19		27		25		28		31
Home equity		59		61		61		62		65
Total nonaccrual portfolio loans and leases (excludes restructured loans)	$	329	$	385	$	419	$	228	$	205
Nonaccrual restructured portfolio commercial loans and leases(b)		194		242		210		203		177
Nonaccrual restructured portfolio consumer loans and leases		63		66		72		75		76
Total nonaccrual portfolio loans and leases	$	586	$	693	$	701	$	506	$	458
Repossessed property		13		15		17		18		17
OREO		84		97		107		123		131
Total nonperforming portfolio assets(a)	$	683	$	805	$	825	$	647	$	606
Nonaccrual loans held for sale		91		20		3		1		1
Nonaccrual restructured loans held for sale		9		—		2		11		1
Total nonperforming assets	$	783	$	825	$	830	$	659	$	608
Restructured Portfolio Consumer loans and leases (accrual)	$	972	$	982	$	998	$	979	$	973
Restructured Portfolio Commercial loans and leases (accrual)(b)	$	408	$	431	$	461	$	491	$	571
Total loans and leases 90 days past due	$	76	$	65	$	73	$	75	$	70
Nonperforming portfolio loans and leases as a percent of portfolio loans, leases and other assets, including OREO(a)		0.63%		0.74%		0.75%		0.55%		0.49%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)		0.73%		0.86%		0.88%		0.70%		0.65%

(a) Does not include nonaccrual loans held for sale.

(b) Excludes $20 million of restructured nonaccrual loans and $7 million of restructured accruing loans as of September 30, 2016, June 30, 2016, March 31, 2016 and December 31, 2015. Excludes $21 million of restructured nonaccrual loans and $7 million of restructured accruing loans as of September 30, 2015.

Total nonperforming assets, including loans held-for-sale, decreased $42 million, or 5 percent, from the previous quarter to $783 million. Nonperforming loans (NPLs) at quarter-end decreased $107 million, or 15 percent, from the previous quarter to $586 million or 0.63 percent of total loans, leases and OREO.

Commercial NPAs decreased $103 million from the second quarter to $499 million, or 0.87 percent of commercial loans, leases and OREO. Commercial NPLs decreased $94 million from last quarter to $445 million, or 0.77 percent of commercial loans and leases. C&I NPAs decreased $72 million from the prior quarter to $405 million. Commercial mortgage NPAs decreased $28 million from the previous quarter to $86 million. Commercial construction NPAs decreased $2 million from the previous quarter to $5 million. Commercial lease NPAs were $3 million, down $1 million from the previous quarter. Commercial NPAs included $194 million of nonaccrual troubled debt restructurings (TDRs), compared with $242 million last quarter.

13

Consumer NPAs decreased $19 million from the second quarter to $184 million, or 0.52 percent of consumer loans, leases and OREO. Consumer NPLs decreased $13 million from last quarter to $141 million, or 0.39 percent of consumer loans and leases. Residential mortgage NPAs decreased $12 million from the second quarter to $57 million. Home equity NPAs decreased $5 million, sequentially, to $89 million. Consumer nonaccrual TDRs were $63 million in the third quarter of 2016, compared with $66 million in the second quarter of 2016.

Third quarter OREO balances included in NPA balances were down $13 million from the second quarter to $84 million, and included $47 million in commercial OREO and $37 million in consumer OREO. Repossessed personal property decreased $2 million from the prior quarter to $13 million.

Loans over 90 days past due and still accruing increased $11 million from the second quarter of 2016 to $76 million. Commercial balances over 90 days past due were $7 million compared with $2 million in the prior quarter, and consumer balances 90 days past due increased $6 million from the previous quarter to $69 million. Loans 30-89 days past due of $205 million were up $9 million from the previous quarter. Commercial balances 30-89 days past due increased $4 million sequentially to $21 million and consumer balances 30-89 days past due were up $5 million from the second quarter at $184 million. The above delinquency figures exclude nonaccruals described previously.

14

Capital and Liquidity Position

	For the Three Months Ended
	September 2016			June 2016			March 2016			December 2015			September 2015
Capital Position
Average total Bancorp shareholders’ equity to average assets		11.83	%		11.60	%		11.57	%		11.26	%		11.24	%
Tangible equity(a)		9.73	%		9.59	%		9.51	%		9.55	%		9.29	%
Tangible common equity (excluding unrealized gains/losses)(a)		8.78	%		8.64	%		8.55	%		8.59	%		8.33	%
Tangible common equity (including unrealized gains/losses)(a)		9.24	%		9.18	%		8.97	%		8.71	%		8.65	%
Regulatory capital ratios:
CET1 capital(b)		10.16	%		9.94	%		9.81	%		9.82	%		9.40	%
Tier I risk-based capital(b)		11.26	%		11.03	%		10.91	%		10.93	%		10.49	%
Total risk-based capital(b)		14.87	%		14.66	%		14.66	%		14.13	%		13.68	%
Tier I leverage		9.80	%		9.64	%		9.57	%		9.54	%		9.38	%
CET1 capital (fully phased-in)(a)(b)		10.08	%		9.86	%		9.72	%		9.72	%		9.30	%
Book value per share	$	20.44		$	20.09		$	19.46		$	18.48		$	18.22
Tangible book value per share(a)	$	17.22		$	16.93		$	16.32		$	15.39		$	15.18
Modified liquidity coverage ratio (LCR)(c)(d)		115	%		110	%		118	%		N/A			N/A

(a) Non-GAAP measure; see discussion of non-GAAP and Reg G. reconciliation beginning on page 33.

(b) Under the banking agencies Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(c) Current period regulatory capital and liquidity ratios are estimated.

(d) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016.

Capital ratios remained strong during the quarter. The CET1 ratio was 10.16 percent, the tangible common equity to tangible assets ratio* was 8.78 percent (excluding unrealized gains/losses), and 9.24 percent (including unrealized gains/losses). The Tier I risk-based capital ratio was 11.26 percent, the Total risk-based capital ratio was 14.87 percent, and the Tier I leverage ratio was 9.80 percent.

Book value per share at September 30, 2016 was $20.44 and tangible book value per share* was $17.22, compared with the June 30, 2016 book value per share of $20.09 and tangible book value per share* of $16.93.

On August 5, 2016, Fifth Third initially settled a share repurchase agreement whereby Fifth Third would purchase $240 million of its outstanding stock. This reduced third quarter share count by 10.98 million shares. Settlement of the forward contract related to this agreement is expected to occur on or before November 2, 2016.

Tax Rate

The effective tax rate was 25.6 percent in the third quarter of 2016 compared with 22.8 percent in the second quarter of 2016 and 26 percent in the third quarter of 2015. The tax rate in the third quarter of 2016 was impacted by Vantiv-related gains, which were partially offset by an $8 million tax benefit in connection with certain commercial lease terminations. The tax rate in the second quarter of 2016 reflected an $8 million tax benefit related to a change in the estimated deductibility of a prior expense.

* Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 33.

15

Other

On July 27, 2016, Fifth Third Bancorp entered into an agreement with Vantiv, Inc. under which a portion of its Tax Receivable Agreement (“TRA”) with Vantiv was terminated and settled in full for consideration of a cash payment in the amount of $116 million from Vantiv. Under the agreement, Fifth Third Bancorp terminated and settled certain TRA cash flows totaling an estimated $331 million. These cash flows were originally payable to Fifth Third from 2019 - 2035. This sale does not impact the TRA payment expected to be recognized in the fourth quarter of 2016 and the fourth quarter of 2017. Fifth Third will also have the ability to terminate and settle another $394 million of future cash flows for a total of $171 million dollars payable to Fifth Third in 2017 and 2018 in 8 separate quarterly optional executions, which resulted in a $163 million pre-tax gain recognized in the third quarter of 2016. For more detail, see the 8-K dated July 28, 2016.

Fifth Third Bank owns approximately 35 million units representing an 18.3 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm. Based upon Vantiv’s closing price of $56.27 on September 30, 2016, our interest in Vantiv was valued at approximately $2.0 billion. Next month in our 10-Q, we will update our disclosure of the carrying value of our interest in Vantiv stock, which was $390 million as of June 30, 2016. The difference between the market value and the book value of Fifth Third’s interest in Vantiv’s shares is not recognized in Fifth Third’s equity or capital. Additionally, Fifth Third has a warrant to purchase approximately 7.8 million additional shares in Vantiv which is carried as a derivative asset at a fair value of $325 million as of September 30, 2016.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live by Thomson Financial and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Fifth Third” then “Investor Relations”). Institutional investors can access the call via Thomson Financial’s password-protected event management site, StreetEvents (www.streetevents.com).

Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address. Additionally, a telephone replay of the conference call will be available beginning approximately two hours after the conference call until Thursday, November 3, 2016 by dialing 855-859-2056 for domestic access or 404-537-3406 for international access (passcode 83768757#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2016, the Company had $143 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart^® locations, most open seven days a week, inside select grocery stores and 2,497 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2016, had $314 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ^® Global Select Market under the symbol “FITB.”

16

FORWARD-LOOKING STATEMENTS

This release 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,” “anticipates,” “potential,” “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 as updated from time to time by our Quarterly Reports on Form 10-Q. 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 is a risk that additional information may become known during the company’s quarterly closing process or as a result of subsequent events that could affect the accuracy of the statements and financial information contained herein.

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 or real estate market conditions, either nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, weaken or 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 and adequate sources of funding and liquidity 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 Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv, LLC; (21) loss of income from any sale or potential sale of businesses; (22) difficulties in separating the operations of any branches or other assets divested; (23) losses or adverse impacts on the carrying values of branches and long-lived assets in connection with their sales or anticipated sales; (24) inability to achieve expected benefits from branch consolidations and planned sales within desired timeframes, if at all; (25) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; and (26) 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.

In this release, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide GAAP reconciliations for non-GAAP measures in our earnings release and presentation, both of which are available in the investor relations section of our website, www.53.com.

# # #

17

Quarterly Financial Review for September 30, 2016

Table of Contents

Financial Highlights	19-20
Consolidated Statements of Income	21
Consolidated Statements of Income (Taxable Equivalent)	22
Consolidated Balance Sheets	23-24
Consolidated Statements of Changes in Equity	25
Average Balance Sheet and Yield Analysis	26-28
Summary of Loans and Leases	29
Regulatory Capital	30
Summary of Credit Loss Experience	31
Asset Quality	32
Regulation G Non-GAAP Reconciliation	33-34
Segment Presentation	35

18

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended						% Change				Year to Date				% Change
	September 2016		June 2016		September 2015		Seq		Yr/Yr		September 2016		September 2015		Yr/Yr
Income Statement Data
Net interest income(a)(d)	$	913	$	908	$	906		1%		1%	$	2,730	$	2,650		3%
Noninterest income		840		599		713		40%		18%		2,075		1,900		9%
Total revenue(a)		1,753		1,507		1,619		16%		8%		4,805		4,550		6%
Provision for loan and lease losses		80		91		156		(12%)		(49%)		289		305		(5%)
Noninterest expense		973		983		943		(1%)		3%		2,942		2,814		5%
Net income attributable to Bancorp		516		333		381		55%		35%		1,175		1,056		11%
Net income available to common shareholders		501		310		366		62%		37%		1,123		1,004		12%
Earnings Per Share Data
Net income allocated to common shareholders	$	496	$	307	$	362		62%		37%	$	1,112	$	994		12%
Average common shares outstanding (in thousands):
Basic		750,886		759,105		795,793		(1%)		(6%)		761,148		803,270		(5%)
Diluted		757,456		765,080		805,023		(1%)		(6%)		766,941		812,099		(6%)
Earnings per share, basic		0.66		0.40		0.46		65%		43%		1.46		1.24		18%
Earnings per share, diluted		0.65		0.40		0.45		63%		44%		1.45		1.22		19%
Common Share Data
Cash dividends per common share	$	0.13	$	0.13	$	0.13		—		—	$	0.39	$	0.39		—
Book value per share		20.44		20.09		18.22		2%		12%		20.44		18.22		12%
Market price per share		20.46		17.59		18.91		16%		8%		20.46		18.91		8%
Common shares outstanding (in thousands)		755,582		766,346		795,439		(1%)		(5%)		755,582		795,439		(5%)
Market capitalization	$	15,459	$	13,480	$	15,042		15%		3%	$	15,459	$	15,042		3%
Financial Ratios
Return on average assets		1.44%		0.94%		1.07%		53%		35%		1.10%		1.01%		9%
Return on average common equity		12.8%		8.2%		10.0%		56%		28%		9.8%		9.3%		5%
Return on average tangible common equity(b)(d)		15.2%		9.7%		12.0%		57%		27%		11.7%		11.1%		5%
Noninterest income as a percent of total revenue		48%		40%		44%		20%		9%		43%		42%		2%
Dividend payout ratio		19.7%		32.5%		28.3%		(39%)		(30%)		26.7%		31.5%		(15%)
Average total Bancorp shareholders’ equity as a percent of average assets		11.83%		11.60%		11.24%		2%		5%		11.67%		11.35%		3%
Tangible common equity(c)(d)(j)		8.78%		8.64%		8.33%		2%		5%		8.78%		8.33%		5%
Net interest margin(a)(d)		2.88%		2.88%		2.89%		—		—		2.88%		2.88%		—
Efficiency(a)(d)		55.5%		65.3%		58.2%		(15%)		(5%)		61.2%		61.8%		(1%)
Effective tax rate		25.6%		22.8%		26.0%		12%		(2%)		24.6%		25.9%		(5%)
Credit Quality
Net losses charged-off	$	107	$	87	$	188		23%		(43%)	$	289	$	366		(21%)
Net losses charged-off as a percent of average portfolio loans and leases		0.45%		0.37%		0.80%		22%		(44%)		0.41%		0.53%		(23%)
ALLL as a percent of portfolio loans and leases		1.37%		1.38%		1.35%		(1%)		1%		1.37%		1.35%		1%
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.54%		1.54%		1.49%		—		3%		1.54%		1.49%		3%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.73%		0.86%		0.65%		(15%)		12%		0.73%		0.65%		12%
Average Balances
Loans and leases, including held for sale	$	94,417	$	94,807	$	94,329		—		—	$	94,434	$	92,919		2%
Total securities and other short-term investments		31,675		32,040		30,102		(1%)		5%		31,763		29,905		6%
Total assets		142,726		142,920		140,706		—		1%		142,410		139,439		2%
Transaction deposits(f)		94,855		94,929		94,660		—		—		94,821		95,100		—
Core deposits(g)		98,875		98,973		98,717		—		—		98,854		99,151		—
Wholesale funding(h)		22,236		23,084		21,685		(4%)		3%		22,418		19,638		14%
Bancorp shareholders’ equity		16,883		16,584		15,815		2%		7%		16,615		15,826		5%
Capital and Liquidity Ratios(i)
CET1 capital(j)		10.16%		9.94%		9.40%		2%		8%		10.16%		9.40%		8%
Tier I risk-based capital(j)		11.26%		11.03%		10.49%		2%		7%		11.26%		10.49%		7%
Total risk-based capital(j)		14.87%		14.66%		13.68%		1%		9%		14.87%		13.68%		9%
Tier I leverage		9.80%		9.64%		9.38%		2%		4%		9.80%		9.38%		4%
CET1 capital (fully phased-in)(j)(d)		10.08%		9.86%		9.30%		2%		8%		10.08%		9.30%		8%
Modified liquidity coverage ratio (LCR)(l)		115%		110%		N/A		4%		—		115%		N/A		—
Operations
Banking centers		1,191		1,191		1,295		—		(5%)		1,191		1,295		(5%)
ATMs		2,497		2,514		2,650		(1%)		(6%)		2,497		2,650		(6%)
Full-time equivalent employees		18,072		18,051		18,311		—		(1%)		18,072		18,311		(1%)

(a) Presented on a fully taxable equivalent basis.

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity (average common equity less goodwill and intangible assets).

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and AOCI).

(d) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

(e) Excludes nonaccrual loans held for sale.

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(g) Includes transaction deposits plus other time deposits.

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(i) Current period regulatory capital ratios are estimates.

(j) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(k) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(l) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016.

19

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	September 2016			June 2016			March 2016			December 2015			September 2015
Income Statement Data
Net interest income(a)(d)	$	913		$	908		$	909		$	904		$	906
Noninterest income		840			599			637			1,104			713
Total revenue(a)		1,753			1,507			1,546			2,008			1,619
Provision for loan and lease losses		80			91			119			91			156
Noninterest expense		973			983			986			963			943
Net income attributable to Bancorp		516			333			327			657			381
Net income available to common shareholders		501			310			312			634			366
Earnings Per Share Data
Net income allocated to common shareholders	$	496		$	307		$	309		$	627		$	362
Average common shares outstanding (in thousands):
Basic		750,886			759,105			773,564			784,855			795,793
Diluted		757,456			765,080			778,392			794,481			805,023
Earnings per share, basic		0.66			0.40			0.40			0.80			0.46
Earnings per share, diluted		0.65			0.40			0.40			0.79			0.45
Common Share Data
Cash dividends per common share	$	0.13		$	0.13		$	0.13		$	0.13		$	0.13
Book value per share		20.44			20.09			19.46			18.48			18.22
Market price per share		20.46			17.59			16.69			20.10			18.91
Common shares outstanding (in thousands)		755,582			766,346			770,471			785,080			795,439
Market capitalization	$	15,459		$	13,480		$	12,859		$	15,780		$	15,042
Financial Ratios
Return on average assets		1.44	%		0.94	%		0.93	%		1.83	%		1.07	%
Return on average common equity		12.8	%		8.2	%		8.3	%		17.2	%		10.0	%
Return on average tangible common equity(b)(d)		15.2	%		9.7	%		9.9	%		20.6	%		12.0	%
Noninterest income as a percent of total revenue		48	%		40	%		41	%		55	%		44	%
Dividend payout ratio		19.7	%		32.5	%		32.5	%		16.3	%		28.3	%
Average total Bancorp shareholders’ equity as a percent of average assets		11.83	%		11.60	%		11.57	%		11.26	%		11.24	%
Tangible common equity(c)(d)(j)		8.78	%		8.64	%		8.55	%		8.59	%		8.33	%
Net interest margin(a)(d)		2.88	%		2.88	%		2.91	%		2.85	%		2.89	%
Efficiency(a)(d)		55.5	%		65.3	%		63.8	%		48.0	%		58.2	%
Effective tax rate		25.6	%		22.8	%		25.0	%		30.7	%		26.0	%
Credit Quality
Net losses charged-off	$	107		$	87		$	96		$	80		$	188
Net losses charged-off as a percent of average portfolio loans and leases		0.45	%		0.37	%		0.42	%		0.34	%		0.80	%
ALLL as a percent of portfolio loans and leases		1.37	%		1.38	%		1.38	%		1.37	%		1.35	%
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.54	%		1.54	%		1.54	%		1.52	%		1.49	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.73	%		0.86	%		0.88	%		0.70	%		0.65	%
Average Balances
Loans and leases, including held for sale	$	94,417		$	94,807		$	94,078		$	94,587		$	94,329
Total securities and other short-term investments		31,675			32,040			31,573			31,256			30,102
Total assets		142,726			142,920			141,582			141,973			140,706
Transaction deposits(f)		94,855			94,929			94,680			95,676			94,660
Core deposits(g)		98,875			98,973			98,715			99,728			98,717
Wholesale funding(h)		22,236			23,084			21,936			21,907			21,685
Bancorp shareholders’ equity		16,883			16,584			16,376			15,982			15,815
Capital and Liquidity Ratios(i)
CET1 capital(j)		10.16	%		9.94	%		9.81	%		9.82	%		9.40	%
Tier I risk-based capital(j)		11.26	%		11.03	%		10.91	%		10.93	%		10.49	%
Total risk-based capital(j)		14.87	%		14.66	%		14.66	%		14.13	%		13.68	%
Tier I leverage		9.80	%		9.64	%		9.57	%		9.54	%		9.38	%
CET1 capital (fully phased-in)(j)(d)		10.08	%		9.86	%		9.72	%		9.72	%		9.30	%
Modified liquidity coverage ratio (LCR)(l)		115	%		110	%		118	%		N/A			N/A
Operations
Banking centers		1,191			1,191			1,241			1,254			1,295
ATMs		2,497			2,514			2,556			2,593			2,650
Full-time equivalent employees		18,072			18,051			18,200			18,261			18,311

(a) Presented on a fully taxable equivalent basis.

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity (average common equity less goodwill and intangible assets).

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and AOCI).

(d) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

(e) Excludes nonaccrual loans held for sale.

(f) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(g) Includes transaction deposits plus other time deposits.

(h) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(i) Current period regulatory capital ratios are estimates.

(j) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(k) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(l) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016.

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended						% Change				Year to Date				% Change
	September 2016		June 2016		September 2015		Seq		Yr/Yr		September 2016		September 2015		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	816	$	808	$	795		1%		3%	$	2,429	$	2,355		3%
Interest on securities		239		236		230		1%		4%		707		637		11%
Interest on other short-term investments		2		2		1		—		100%		6		7		(14%)
Total interest income		1,057		1,046		1,026		1%		3%		3,142		2,999		5%
Interest Expense
Interest on deposits		51		50		44		2%		16%		151		140		8%
Interest on federal funds purchased		—		1		—		(100%)		—		2		—		100%
Interest on other short-term borrowings		2		3		1		(33%)		100%		8		2		NM
Interest on long-term debt		97		90		80		8%		21%		269		221		22%
Total interest expense		150		144		125		4%		20%		430		363		18%
Net Interest Income		907		902		901		1%		1%		2,712		2,636		3%
Provision for loan and lease losses		80		91		156		(12%)		(49%)		289		305		(5%)
Net Interest Income After Provision for Loan and Lease Losses		827		811		745		2%		11%		2,423		2,331		4%
Noninterest Income
Service charges on deposits		143		138		145		4%		(1%)		417		419		—
Corporate banking revenue		111		117		104		(5%)		7%		330		280		18%
Mortgage banking net revenue		66		75		71		(12%)		(7%)		219		274		(20%)
Wealth and asset management revenue		101		101		103		—		(2%)		304		315		(3%)
Card and processing revenue		79		82		77		(4%)		3%		240		225		7%
Other noninterest income		336		80		213		NM		58%		552		378		46%
Securities gains, net		4		6		—		(33%)		100%		13		9		44%
Total noninterest income		840		599		713		40%		18%		2,075		1,900		9%
Noninterest Expense
Salaries, wages and incentives		400		407		387		(2%)		3%		1,209		1,139		6%
Employee benefits		78		85		72		(8%)		8%		263		248		6%
Net occupancy expense		73		75		77		(3%)		(5%)		226		238		(5%)
Technology and communications		62		60		56		3%		11%		178		165		8%
Equipment expense		29		30		31		(3%)		(6%)		89		92		(3%)
Card and processing expense		30		37		40		(19%)		(25%)		101		114		(11%)
Other noninterest expense		301		289		280		4%		8%		876		818		7%
Total noninterest expense		973		983		943		(1%)		3%		2,942		2,814		5%
Income Before Income Taxes		694		427		515		63%		35%		1,556		1,417		10%
Applicable income tax expense		178		98		134		82%		33%		385		367		5%
Net Income		516		329		381		57%		35%		1,171		1,050		12%
Less: Net income attributable to noncontrolling interests		—		(4)		—		(100%)		—		(4)		(6)		(33%)
Net Income Attributable to Bancorp		516		333		381		55%		35%		1,175		1,056		11%
Dividends on preferred stock		15		23		15		(35%)		—		52		52		—
Net Income Available to Common Shareholders	$	501	$	310	$	366		62%		37%	$	1,123	$	1,004		12%

21

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	September 2016		June 2016		March 2016		December 2015		September 2015
Interest Income
Interest and fees on loans and leases	$	816	$	808	$	804	$	797	$	795
Interest on securities		239		236		232		231		230
Interest on other short-term investments		2		2		2		2		1
Total interest income		1,057		1,046		1,038		1,030		1,026
Taxable equivalent adjustment		6		6		6		5		5
Total interest income (taxable equivalent)(a)		1,063		1,052		1,044		1,035		1,031
Interest Expense
Interest on deposits		51		50		49		46		44
Interest on federal funds purchased		—		1		1		—		—
Interest on other short-term borrowings		2		3		3		1		1
Interest on long-term debt		97		90		82		84		80
Total interest expense		150		144		135		131		125
Net Interest Income (Taxable Equivalent)		913		908		909		904		906
Provision for loan and lease losses		80		91		119		91		156
Net Interest Income (Taxable Equivalent) After Provision for Provision for Loan and Lease Losses		833		817		790		813		750
Noninterest Income
Service charges on deposits		143		138		137		144		145
Corporate banking revenue		111		117		102		104		104
Mortgage banking net revenue		66		75		78		74		71
Wealth and asset management revenue		101		101		102		102		103
Card and processing revenue		79		82		79		77		77
Other noninterest income		336		80		136		602		213
Securities gains, net		4		6		3		1		—
Total noninterest income		840		599		637		1,104		713
Noninterest Expense
Salaries, wages and incentives		400		407		403		386		387
Employee benefits		78		85		100		74		72
Net occupancy expense		73		75		77		83		77
Technology and communications		62		60		56		59		56
Equipment expense		29		30		30		32		31
Card and processing expense		30		37		35		40		40
Other noninterest expense		301		289		285		289		280
Total noninterest expense		973		983		986		963		943
Income Before Income Taxes (Taxable Equivalent)(a)		700		433		441		954		520
Taxable equivalent adjustment		6		6		6		5		5
Income Before Income Taxes		694		427		435		949		515
Applicable income tax expense		178		98		108		292		134
Net Income		516		329		327		657		381
Less: Net Income attributable to noncontrolling interests		—		(4)		—		—		—
Net Income Attributable to Bancorp		516		333		327		657		381
Dividends on preferred stock		15		23		15		23		15
Net Income Available to Common Shareholders	$	501	$	310	$	312	$	634	$	366

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of						% Change
	September		June		September
	2016		2016		2015		Seq		Yr/Yr
Assets
Cash and due from banks	$	2,164	$	2,359	$	2,455		(8%)		(12%)
Available-for-sale and other securities(a)		30,689		31,455		28,799		(2%)		7%
Held-to-maturity securities(b)		56		62		157		(10%)		(64%)
Trading securities		431		401		374		7%		15%
Other short-term investments		2,995		1,818		1,994		65%		50%
Loans held for sale		1,060		877		994		21%		7%
Portfolio loans and leases:
Commercial and industrial loans		42,727		43,558		42,948		(2%)		(1%)
Commercial mortgage loans		6,856		6,875		7,061		—		(3%)
Commercial construction loans		3,905		3,706		3,101		5%		26%
Commercial leases		3,995		3,978		3,898		—		2%
Residential mortgage loans		14,643		14,307		13,392		2%		9%
Home equity		7,864		7,988		8,427		(2%)		(7%)
Automobile loans		10,349		10,671		11,826		(3%)		(12%)
Credit card		2,169		2,172		2,229		—		(3%)
Other consumer loans and leases		643		654		692		(2%)		(7%)
Portfolio loans and leases		93,151		93,909		93,574		(1%)		—
Allowance for loan and lease losses		(1,272)		(1,299)		(1,261)		(2%)		1%
Portfolio loans and leases, net		91,879		92,610		92,313		(1%)		—
Bank premises and equipment		2,084		2,144		2,264		(3%)		(8%)
Operating lease equipment		771		756		680		2%		13%
Goodwill		2,416		2,416		2,416		—		—
Intangible assets		10		10		13		—		(23%)
Servicing rights		619		621		757		—		(18%)
Other assets		8,105		8,096		8,667		—		(6%)
Total Assets	$	143,279	$	143,625	$	141,883		—		1%
Liabilities
Deposits:
Demand	$	35,625	$	36,137	$	34,832		(1%)		2%
Interest checking		24,483		24,571		24,832		—		(1%)
Savings		14,019		14,356		14,632		(2%)		(4%)
Money market		19,910		19,125		18,887		4%		5%
Foreign office		518		453		754		14%		(31%)
Other time		3,971		4,021		4,041		(1%)		(2%)
Certificates $100,000 and over		2,745		2,778		2,915		(1%)		(6%)
Other		—		430		—		(100%)		—
Total deposits		101,271		101,871		100,893		(1%)		—
Federal funds purchased		126		108		132		17%		(5%)
Other short-term borrowings		3,494		3,979		4,904		(12%)		(29%)
Accrued taxes, interest and expenses		2,178		2,187		1,990		—		9%
Other liabilities		2,516		2,495		2,614		1%		(4%)
Long-term debt		16,890		16,231		15,492		4%		9%
Total Liabilities		126,475		126,871		126,025		—		—
Equity
Common stock(c)		2,051		2,051		2,051		—		—
Preferred stock		1,331		1,331		1,331		—		—
Capital surplus		2,745		2,754		2,659		—		3%
Retained earnings		13,180		12,778		11,826		3%		11%
Accumulated other comprehensive income		755		889		522		(15%)		45%
Treasury stock		(3,286)		(3,077)		(2,563)		7%		28%
Total Bancorp shareholders’ equity		16,776		16,726		15,826		—		6%
Noncontrolling interests		28		28		32		—		(13%)
Total Equity		16,804		16,754		15,858		—		6%
Total Liabilities and Equity	$	143,279	$	143,625	$	141,883		—		1%
(a) Amortized cost	$	29,486	$	30,101	$	27,986		(2%)		5%
(b) Market values		56		62		157		(10%)		(64%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		—		—
Outstanding, excluding treasury		755,582		766,346		795,439		(1%)		(5%)
Treasury		168,310		157,547		128,453		7%		31%

23

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	September		June		March		December		September
	2016		2016		2016		2015		2015
Assets
Cash and due from banks	$	2,164	$	2,359	$	2,298	$	2,540	$	2,455
Available-for-sale and other securities(a)		30,689		31,455		29,891		29,044		28,799
Held-to-maturity securities(b)		56		62		64		70		157
Trading securities		431		401		405		386		374
Other short-term investments		2,995		1,818		1,778		2,671		1,994
Loans held for sale		1,060		877		803		903		994
Portfolio loans and leases:
Commercial and industrial loans		42,727		43,558		43,433		42,131		42,948
Commercial mortgage loans		6,856		6,875		6,864		6,957		7,061
Commercial construction loans		3,905		3,706		3,428		3,214		3,101
Commercial leases		3,995		3,978		3,956		3,854		3,898
Residential mortgage loans		14,643		14,307		13,895		13,716		13,392
Home equity		7,864		7,988		8,112		8,301		8,427
Automobile loans		10,349		10,671		11,128		11,493		11,826
Credit card		2,169		2,172		2,138		2,259		2,229
Other consumer loans and leases		643		654		651		657		692
Portfolio loans and leases		93,151		93,909		93,605		92,582		93,574
Allowance for loan and lease losses		(1,272)		(1,299)		(1,295)		(1,272)		(1,261)
Portfolio loans and leases, net		91,879		92,610		92,310		91,310		92,313
Bank premises and equipment		2,084		2,144		2,185		2,239		2,264
Operating lease equipment		771		756		738		707		680
Goodwill		2,416		2,416		2,416		2,416		2,416
Intangible assets		10		10		11		12		13
Servicing rights		619		621		685		785		757
Other assets		8,105		8,096		8,846		7,965		8,667
Total Assets	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883
Liabilities
Deposits:
Demand	$	35,625	$	36,137	$	35,858	$	36,267	$	34,832
Interest checking		24,483		24,571		25,182		26,768		24,832
Savings		14,019		14,356		14,738		14,601		14,632
Money market		19,910		19,125		19,377		18,494		18,887
Foreign office		518		453		441		464		754
Other time		3,971		4,021		4,049		4,019		4,041
Certificates $100,000 and over		2,745		2,778		2,830		2,592		2,915
Other		—		430		—		—		—
Total deposits		101,271		101,871		102,475		103,205		100,893
Federal funds purchased		126		108		134		151		132
Other short-term borrowings		3,494		3,979		3,523		1,507		4,904
Accrued taxes, interest and expenses		2,178		2,187		2,011		2,164		1,990
Other liabilities		2,516		2,495		2,627		2,341		2,614
Long-term debt		16,890		16,231		15,305		15,810		15,492
Total Liabilities		126,475		126,871		126,075		125,178		126,025
Equity
Common stock(c)		2,051		2,051		2,051		2,051		2,051
Preferred stock		1,331		1,331		1,331		1,331		1,331
Capital surplus		2,745		2,754		2,686		2,666		2,659
Retained earnings		13,180		12,778		12,570		12,358		11,826
Accumulated other comprehensive income		755		889		684		197		522
Treasury stock		(3,286)		(3,077)		(2,999)		(2,764)		(2,563)
Total Bancorp shareholders’ equity		16,776		16,726		16,323		15,839		15,826
Noncontrolling interests		28		28		32		31		32
Total Equity		16,804		16,754		16,355		15,870		15,858
Total Liabilities and Equity	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883
(a) Amortized cost	$	29,486	$	30,101	$	28,838	$	28,678	$	27,986
(b) Market values		56		62		64		70		157
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		2,000,000		2,000,000
Outstanding, excluding treasury		755,582		766,346		770,471		785,080		795,439
Treasury		168,310		157,547		153,422		138,812		128,453

24

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	September			September			September			September
	2016			2015			2016			2015
Total equity, beginning	$	16,754		$	15,638		$	15,870		$	15,665
Net income attributable to Bancorp		516			381			1,175			1,056
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		(114	)		201			527			53
Qualifying cash flow hedges		(22	)		29			26			35
Change in accumulated other comprehensive income related to employee benefit plans		2			1			5			5
Comprehensive income		382			612			1,733			1,149
Cash dividends declared:
Common stock		(99	)		(103	)		(300	)		(315	)
Preferred stock		(15	)		(15	)		(52	)		(52	)
Impact of stock transactions under stock compensation plans, net		21			27			62			54
Shares acquired for treasury		(240	)		(300	)		(506	)		(635	)
Noncontrolling interest		—			(1	)		(4	)		(6	)
Other		1			—			1			(2	)
Total equity, ending	$	16,804		$	15,858		$	16,804		$	15,858

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended						% Change
	September		June		September
	2016		2016		2015		Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	43,125	$	43,878	$	43,162		(2%)		—
Commercial mortgage loans		6,891		6,835		7,038		1%		(2%)
Commercial construction loans		3,848		3,551		2,966		8%		30%
Commercial leases		3,963		3,904		3,847		2%		3%
Residential mortgage loans		15,346		14,842		13,976		3%		10%
Home equity		7,918		8,059		8,521		(2%)		(7%)
Automobile loans		10,508		10,887		11,881		(3%)		(12%)
Credit card		2,165		2,198		2,277		(2%)		(5%)
Other consumer loans and leases		653		653		661		—		(1%)
Taxable securities		29,772		30,002		28,251		(1%)		5%
Tax exempt securities		76		85		52		(11%)		46%
Other short-term investments		1,827		1,953		1,799		(6%)		2%
Total interest-earning assets		126,092		126,847		124,431		(1%)		1%
Cash and due from banks		2,289		2,228		2,503		3%		(9%)
Other assets		15,644		15,140		15,064		3%		4%
Allowance for loan and lease losses		(1,299)		(1,295)		(1,292)		—		1%
Total Assets	$	142,726	$	142,920	$	140,706		—		1%
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	24,475	$	24,714	$	25,590		(1%)		(4%)
Savings deposits		14,232		14,576		14,868		(2%)		(4%)
Money market deposits		19,706		19,243		18,253		2%		8%
Foreign office deposits		524		484		718		8%		(27%)
Other time deposits		4,020		4,044		4,057		(1%)		(1%)
Certificates $100,000 and over		2,768		2,819		2,924		(2%)		(5%)
Other deposits		749		467		222		60%		NM
Federal funds purchased		446		693		1,978		(36%)		(77%)
Other short-term borrowings		2,171		3,754		1,897		(42%)		14%
Long-term debt		16,102		15,351		14,664		5%		10%
Total interest-bearing liabilities		85,193		86,145		85,171		(1%)		—
Demand deposits		35,918		35,912		35,231		—		2%
Other liabilities		4,704		4,247		4,458		11%		6%
Total Liabilities		125,815		126,304		124,860		—		1%
Total Equity		16,911		16,616		15,846		2%		7%
Total Liabilities and Equity	$	142,726	$	142,920	$	140,706		—		1%
	For the Three Months Ended						bps Change
Yield Analysis	September		June		September
	2016		2016		2015		Seq		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		3.28%		3.25%		3.11%		3		17
Commercial mortgage loans(a)		3.31%		3.28%		3.17%		3		14
Commercial construction loans(a)		3.43%		3.36%		3.13%		7		30
Commercial leases(a)		2.64%		2.71%		2.72%		(7)		(8)
Residential mortgage loans		3.51%		3.57%		3.63%		(6)		(12)
Home equity		3.76%		3.81%		3.61%		(5)		15
Automobile loans		2.71%		2.68%		2.62%		3		9
Credit card		10.34%		10.47%		10.38%		(13)		(4)
Other consumer loans and leases		6.90%		6.36%		6.81%		54		9
Total loans and leases		3.46%		3.45%		3.36%		1		10
Taxable securities		3.18%		3.16%		3.23%		2		(5)
Tax exempt securities(a)		4.91%		4.09%		5.20%		82		(29)
Other short-term investments		0.44%		0.43%		0.23%		1		21
Total interest-earning assets		3.36%		3.34%		3.29%		2		7
Interest-bearing liabilities:
Interest checking deposits		0.23%		0.22%		0.18%		1		5
Savings deposits		0.04%		0.05%		0.05%		(1)		(1)
Money market deposits		0.27%		0.26%		0.21%		1		6
Foreign office deposits		0.17%		0.15%		0.14%		2		3
Other time deposits		1.24%		1.24%		1.19%		—		5
Certificates $100,000 and over		1.28%		1.29%		1.16%		(1)		12
Other deposits		0.41%		0.40%		0.16%		1		25
Federal funds purchased		0.40%		0.39%		0.14%		1		26
Other short-term borrowings		0.30%		0.36%		0.13%		(6)		17
Long-term debt		2.40%		2.36%		2.16%		4		24
Total interest-bearing liabilities		0.70%		0.67%		0.58%		3		12
Ratios:
Net interest margin (taxable equivalent)(b)		2.88%		2.88%		2.89%		—		(1)
Net interest rate spread (taxable equivalent)		2.66%		2.67%		2.71%		(1)		(5)
Interest-bearing liabilities to interest-earning assets		67.56%		67.91%		68.45%		(35)		(89)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date				% Change
	September		September
	2016		2015		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	43,376	$	42,399		2%
Commercial mortgage loans		6,878		7,144		(4%)
Commercial construction loans		3,567		2,574		39%
Commercial leases		3,914		3,780		4%
Residential mortgage loans		14,866		13,624		9%
Home equity		8,072		8,658		(7%)
Automobile loans		10,892		11,905		(9%)
Credit card		2,213		2,298		(4%)
Other consumer loans and leases		656		537		22%
Taxable securities		29,798		26,251		14%
Tax exempt securities		80		57		40%
Other short-term investments		1,885		3,597		(48%)
Total interest-earning assets		126,197		122,824		3%
Cash and due from banks		2,284		2,655		(14%)
Other assets		15,218		15,264		—
Allowance for loan and lease losses		(1,289)		(1,304)		(1%)
Total Assets	$	142,410	$	139,439		2%
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	24,974	$	26,452		(6%)
Savings deposits		14,469		15,065		(4%)
Money market deposits		19,203		17,942		7%
Foreign office deposits		497		844		(41%)
Other time deposits		4,033		4,051		—
Certificates $100,000 and over		2,801		2,722		3%
Other deposits		407		75		NM
Federal funds purchased		582		832		(30%)
Other short-term borrowings		3,160		1,736		82%
Long-term debt		15,468		14,273		8%
Total interest-bearing liabilities		85,594		83,992		2%
Demand deposits		35,678		34,797		3%
Other liabilities		4,492		4,788		(6%)
Total Liabilities		125,764		123,577		2%
Total Equity		16,646		15,862		5%
Total Liabilities and Equity	$	142,410	$	139,439		2%
	Year to Date				bps Change
Yield Analysis	September		September
	2016		2015		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		3.25%		3.14%		11
Commercial mortgage loans(a)		3.29%		3.22%		7
Commercial construction loans(a)		3.39%		3.17%		22
Commercial leases(a)		2.71%		2.82%		(11)
Residential mortgage loans		3.57%		3.71%		(14)
Home equity		3.79%		3.64%		15
Automobile loans		2.68%		2.65%		3
Credit card		10.48%		10.31%		17
Other consumer loans and leases		6.51%		8.45%		(194)
Total loans and leases		3.46%		3.41%		5
Taxable securities		3.16%		3.24%		(8)
Tax exempt securities(a)		4.43%		5.08%		(65)
Other short-term investments		0.43%		0.25%		18
Total interest-earning assets		3.35%		3.28%		7
Interest-bearing liabilities:
Interest checking deposits		0.23%		0.19%		4
Savings deposits		0.05%		0.06%		(1)
Money market deposits		0.26%		0.25%		1
Foreign office deposits		0.16%		0.16%		—
Other time deposits		1.23%		1.20%		3
Certificates $100,000 and over		1.28%		1.19%		9
Other deposits		0.41%		0.16%		25
Federal funds purchased		0.38%		0.13%		25
Other short-term borrowings		0.36%		0.12%		24
Long-term debt		2.33%		2.08%		25
Total interest-bearing liabilities		0.67%		0.58%		9
Ratios:
Net interest margin (taxable equivalent)(b)		2.88%		2.88%		—
Net interest rate spread (taxable equivalent)		2.68%		2.70%		(2)
Interest-bearing liabilities to interest-earning assets		67.83%		68.38%		(55)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

27

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	September		June		March		December		September
	2016		2016		2016		2015		2015
Assets
Interest-earning assets:
Commercial and industrial loans	$	43,125	$	43,878	$	43,127	$	43,175	$	43,162
Commercial mortgage loans		6,891		6,835		6,908		7,053		7,038
Commercial construction loans		3,848		3,551		3,297		3,141		2,966
Commercial leases		3,963		3,904		3,875		3,841		3,847
Residential mortgage loans		15,346		14,842		14,405		14,315		13,976
Home equity		7,918		8,059		8,241		8,394		8,521
Automobile loans		10,508		10,887		11,285		11,674		11,881
Credit card		2,165		2,198		2,277		2,320		2,277
Other consumer loans and leases		653		653		663		674		661
Taxable securities		29,772		30,002		29,619		28,951		28,251
Tax exempt securities		76		85		78		52		52
Other short-term investments		1,827		1,953		1,876		2,253		1,799
Total interest-earning assets		126,092		126,847		125,651		125,843		124,431
Cash and due from banks		2,289		2,228		2,335		2,466		2,503
Other assets		15,644		15,140		14,869		14,925		15,064
Allowance for loan and lease losses		(1,299)		(1,295)		(1,273)		(1,261)		(1,292)
Total Assets	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	24,475	$	24,714	$	25,740	$	25,296	$	25,590
Savings deposits		14,232		14,576		14,601		14,615		14,868
Money market deposits		19,706		19,243		18,655		18,775		18,253
Foreign office deposits		524		484		483		736		718
Other time deposits		4,020		4,044		4,035		4,052		4,057
Certificates $100,000 and over		2,768		2,819		2,815		3,305		2,924
Other deposits		749		467		—		7		222
Federal funds purchased		446		693		608		1,182		1,978
Other short-term borrowings		2,171		3,754		3,564		1,675		1,897
Long-term debt		16,102		15,351		14,949		15,738		14,664
Total interest-bearing liabilities		85,193		86,145		85,450		85,381		85,171
Demand deposits		35,918		35,912		35,201		36,254		35,231
Other liabilities		4,704		4,247		4,524		4,325		4,458
Total Liabilities		125,815		126,304		125,175		125,960		124,860
Total Equity		16,911		16,616		16,407		16,013		15,846
Total Liabilities and Equity	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.28%		3.25%		3.23%		3.12%		3.11%
Commercial mortgage loans(a)		3.31%		3.28%		3.27%		3.11%		3.17%
Commercial construction loans(a)		3.43%		3.36%		3.38%		3.18%		3.13%
Commercial leases(a)		2.64%		2.71%		2.77%		2.68%		2.72%
Residential mortgage loans		3.51%		3.57%		3.63%		3.62%		3.63%
Home equity		3.76%		3.81%		3.80%		3.57%		3.61%
Automobile loans		2.71%		2.68%		2.65%		2.67%		2.62%
Credit card		10.34%		10.47%		10.64%		10.17%		10.38%
Other consumer loans and leases		6.90%		6.36%		6.27%		6.95%		6.81%
Total loans and leases		3.46%		3.45%		3.46%		3.36%		3.36%
Taxable securities		3.18%		3.16%		3.14%		3.16%		3.23%
Tax exempt securities(a)		4.91%		4.09%		4.32%		5.69%		5.20%
Other short-term investments		0.44%		0.43%		0.42%		0.28%		0.23%
Total interest-earning assets		3.36%		3.34%		3.34%		3.26%		3.29%
Interest-bearing liabilities:
Interest checking deposits		0.23%		0.22%		0.23%		0.19%		0.18%
Savings deposits		0.04%		0.05%		0.04%		0.05%		0.05%
Money market deposits		0.27%		0.26%		0.25%		0.22%		0.21%
Foreign office deposits		0.17%		0.15%		0.15%		0.14%		0.14%
Other time deposits		1.24%		1.24%		1.22%		1.20%		1.19%
Certificates $100,000 and over		1.28%		1.29%		1.28%		1.09%		1.16%
Other deposits		0.41%		0.40%		0.00%		0.09%		0.16%
Federal funds purchased		0.40%		0.39%		0.36%		0.12%		0.14%
Other short-term borrowings		0.30%		0.36%		0.39%		0.12%		0.13%
Long-term debt		2.40%		2.36%		2.22%		2.12%		2.16%
Total interest-bearing liabilities		0.70%		0.67%		0.64%		0.61%		0.58%
Ratios:
Net interest margin (taxable equivalent)(b)		2.88%		2.88%		2.91%		2.85%		2.89%
Net interest rate spread (taxable equivalent)		2.66%		2.67%		2.70%		2.65%		2.71%
Interest-bearing liabilities to interest-earning assets		67.56%		67.91%		68.01%		67.85%		68.45%

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

28

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	September		June		March		December		September
	2016		2016		2016		2015		2015
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	43,116	$	43,876	$	43,089	$	43,154	$	43,149
Commercial mortgage loans		6,888		6,831		6,886		7,032		7,023
Commercial construction loans		3,848		3,551		3,297		3,141		2,965
Commercial leases		3,962		3,898		3,874		3,839		3,846
Total commercial loans and leases		57,814		58,156		57,146		57,166		56,983
Consumer loans and leases:
Residential mortgage loans		14,455		14,046		13,788		13,504		13,144
Home equity		7,918		8,054		8,217		8,360		8,479
Automobile loans		10,508		10,887		11,283		11,670		11,877
Credit card		2,165		2,134		2,179		2,218		2,277
Other consumer loans and leases		651		654		662		676		613
Total consumer loans and leases		35,697		35,775		36,129		36,428		36,390
Total average portfolio loans and leases	$	93,511	$	93,931	$	93,275	$	93,594	$	93,373
Average loans held for sale	$	906	$	876	$	803	$	993	$	956
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	42,727	$	43,558	$	43,433	$	42,131	$	42,948
Commercial mortgage loans		6,856		6,875		6,864		6,957		7,061
Commercial construction loans		3,905		3,706		3,428		3,214		3,101
Commercial leases		3,995		3,978		3,956		3,854		3,898
Total commercial loans and leases		57,483		58,117		57,681		56,156		57,008
Consumer loans and leases:
Residential mortgage loans		14,643		14,307		13,895		13,716		13,392
Home equity		7,864		7,988		8,112		8,301		8,427
Automobile loans		10,349		10,671		11,128		11,493		11,826
Credit card		2,169		2,172		2,138		2,259		2,229
Other consumer loans and leases		643		654		651		657		692
Total consumer loans and leases		35,668		35,792		35,924		36,426		36,566
Total portfolio loans and leases	$	93,151	$	93,909	$	93,605	$	92,582	$	93,574
Total loans held for sale	$	1,060	$	877	$	803	$	903	$	994
Operating lease equipment	$	771	$	756	$	738	$	707	$	680
Loans and Leases Serviced for Others:(a)
Commercial and industrial loans	$	544	$	567	$	552	$	588	$	589
Commercial mortgage loans		226		229		231		239		260
Commercial construction loans		38		24		26		27		26
Commercial leases		270		282		262		256		252
Residential mortgage loans		54,646		56,170		57,758		59,024		60,301
Automobile loans		66		83		102		122		146
Total loans and leases serviced for others		55,790		57,355		58,931		60,256		61,574
Total loans and leases serviced	$	150,772	$	152,897	$	154,077	$	154,448	$	156,822

(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities.

29

Fifth Third Bancorp and Subsidiaries

Regulatory Capital

$ in millions

(unaudited)

	As of
	September			June			March			December			September
	2016(a)			2016			2016			2015			2015
Regulatory capital:
Common stock and related surplus (net of treasury stock)	$	1,510		$	1,728		$	1,738		$	1,953		$	2,147
Retained earnings		13,180			12,778			12,570			12,358			11,826
Common equity tier I capital adjustments and deductions		(2,391	)		(2,394	)		(2,394	)		(2,394	)		(2,399	)
CET1 capital		12,299			12,112			11,914			11,917			11,574
Additional tier I capital		1,331			1,331			1,330			1,343			1,340
Tier I capital		13,630			13,443			13,244			13,260			12,914
Tier II capital		4,374			4,414			4,553			3,874			3,935
Total regulatory capital	$	18,004		$	17,857		$	17,797		$	17,134		$	16,849
Risk-weighted assets(b)	$	121,056		$	121,824		$	121,432		$	121,290		$	123,148
Ratios:
Average shareholders’ equity to average assets		11.83	%		11.60	%		11.57	%		11.26	%		11.24	%
Regulatory capital ratios:
Fifth Third Bancorp
CET1 capital(b)		10.16	%		9.94	%		9.81	%		9.82	%		9.40	%
Tier I risk-based capital(b)		11.26	%		11.03	%		10.91	%		10.93	%		10.49	%
Total risk-based capital(b)		14.87	%		14.66	%		14.66	%		14.13	%		13.68	%
Tier I leverage		9.80	%		9.64	%		9.57	%		9.54	%		9.38	%
CET1 capital (fully phased-in)(b)(c)		10.08	%		9.86	%		9.72	%		9.72	%		9.30	%
Fifth Third Bank
Tier I risk-based capital(b)		11.97	%		11.83	%		11.79	%		11.92	%		11.39	%
Total risk-based capital(b)		13.81	%		13.67	%		13.63	%		13.12	%		12.55	%
Tier I leverage		10.46	%		10.37	%		10.39	%		10.43	%		10.21	%

(a) Current period regulatory capital data and ratios are estimated.

(b) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting weighted values are added together resulting in the total risk-weighted assets.

(c) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

30

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	September 2016		June 2016		March 2016		December 2015		September 2015
Average portfolio loans and leases:
Commercial and industrial loans	$	43,116	$	43,876	$	43,089	$	43,154	$	43,149
Commercial mortgage loans		6,888		6,831		6,886		7,032		7,023
Commercial construction loans		3,848		3,551		3,297		3,141		2,965
Commercial leases		3,962		3,898		3,874		3,839		3,846
Residential mortgage loans		14,455		14,046		13,788		13,504		13,144
Home equity		7,918		8,054		8,217		8,360		8,479
Automobile loans		10,508		10,887		11,283		11,670		11,877
Credit card		2,165		2,134		2,179		2,218		2,277
Other consumer loans and leases		651		654		662		676		613
Total average portfolio loans and leases	$	93,511	$	93,931	$	93,275	$	93,594	$	93,373
Losses charged-off:
Commercial and industrial loans	($	76)	($	43)	($	50)	($	38)	($	133)
Commercial mortgage loans		(4)		(7)		(8)		(7)		(13)
Commercial construction loans		—		—		—		—		(3)
Commercial leases		(1)		(1)		(2)		(1)		—
Residential mortgage loans		(4)		(5)		(4)		(5)		(6)
Home equity		(10)		(10)		(11)		(13)		(13)
Automobile loans		(14)		(12)		(14)		(13)		(11)
Credit card		(22)		(23)		(23)		(22)		(24)
Other consumer loans and leases		(6)		(4)		(4)		(6)		(6)
Total losses charged-off	($	137)	($	105)	($	116)	($	105)	($	209)
Recoveries of losses previously charged-off:
Commercial and industrial loans	$	15	$	4	$	4	$	8	$	5
Commercial mortgage loans		2		1		2		4		2
Commercial construction loans		—		—		—		—		—
Commercial leases		1		—		—		—		—
Residential mortgage loans		2		3		2		2		3
Home equity		3		4		3		4		4
Automobile loans		5		4		5		4		4
Credit card		2		2		3		3		3
Other consumer loans and leases		—		—		1		—		—
Total recoveries of losses previously charged-off	$	30	$	18	$	20	$	25	$	21
Net losses charged-off:
Commercial and industrial loans	($	61)	($	39)	($	46)	($	30)	($	128)
Commercial mortgage loans		(2)		(6)		(6)		(3)		(11)
Commercial construction loans		—		—		—		—		(3)
Commercial leases		—		(1)		(2)		(1)		—
Residential mortgage loans		(2)		(2)		(2)		(3)		(3)
Home equity		(7)		(6)		(8)		(9)		(9)
Automobile loans		(9)		(8)		(9)		(9)		(7)
Credit card		(20)		(21)		(20)		(19)		(21)
Other consumer loans and leases		(6)		(4)		(3)		(6)		(6)
Total net losses charged-off	($	107)	($	87)	($	96)	($	80)	($	188)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.56%		0.36%		0.43%		0.28%		1.17%
Commercial mortgage loans		0.08%		0.38%		0.35%		0.19%		0.66%
Commercial construction loans		0.00%		0.00%		(0.06%)		0.00%		0.43%
Commercial leases		0.00%		0.09%		0.20%		0.15%		0.00%
Residential mortgage loans		0.07%		0.06%		0.07%		0.08%		0.10%
Home equity		0.32%		0.30%		0.36%		0.39%		0.42%
Automobile loans		0.35%		0.26%		0.32%		0.31%		0.23%
Credit card		3.61%		3.92%		3.73%		3.40%		3.77%
Other consumer loans and leases		3.70%		2.42%		2.28%		3.10%		3.52%
Total net losses charged-off as a percent of average portfolio loans and leases		0.45%		0.37%		0.42%		0.34%		0.80%

31

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	September		June		March		December		September
	2016		2016		2016		2015		2015
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,299	$	1,295	$	1,272	$	1,261	$	1,293
Total net losses charged-off		(107)		(87)		(96)		(80)		(188)
Provision for loan and lease losses		80		91		119		91		156
Allowance for loan and lease losses, ending	$	1,272	$	1,299	$	1,295	$	1,272	$	1,261
Reserve for unfunded commitments, beginning	$	151	$	144	$	138	$	134	$	132
Provision for unfunded commitments		11		7		6		4		2
Reserve for unfunded commitments, ending	$	162	$	151	$	144	$	138	$	134
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,272	$	1,299	$	1,295	$	1,272	$	1,261
Reserve for unfunded commitments		162		151		144		138		134
Total allowance for credit losses	$	1,434	$	1,450	$	1,439	$	1,410	$	1,395
	As of
	September		June		March		December		September
	2016		2016		2016		2015		2015
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	220	$	254	$	278	$	82	$	47
Commercial mortgage loans		31		39		51		56		60
Commercial construction loans		—		—		—		—		—
Commercial leases		—		4		4		—		2
Residential mortgage loans		19		27		25		28		31
Home equity		59		61		61		62		65
Total nonaccrual portfolio loans and leases (excludes restructured loans)		329		385		419		228		205
Nonaccrual restructured portfolio commercial loans and leases		194		242		210		203		177
Nonaccrual restructured portfolio consumer loans and leases		63		66		72		75		76
Total nonaccrual portfolio loans and leases		586		693		701		506		458
Repossessed property		13		15		17		18		17
OREO		84		97		107		123		131
Total nonperforming portfolio assets		683		805		825		647		606
Nonaccrual loans held for sale		91		20		3		1		1
Nonaccrual restructured loans held for sale		9		—		2		11		1
Total nonperforming assets	$	783	$	825	$	830	$	659	$	608
Restructured portfolio consumer loans and leases (accrual)	$	972	$	982	$	998	$	979	$	973
Restructured portfolio commercial loans and leases (accrual)	$	408	$	431	$	461	$	491	$	571
90 days past due loans and leases:
Commercial and industrial loans	$	7	$	2	$	3	$	7	$	3
Commercial mortgage loans		—		—		—		—		2
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		—		—
Total commercial loans and leases		7		2		3		7		5
Residential mortgage loans		43		38		44		40		40
Home equity		—		—		—		—		—
Automobile loans		8		7		8		10		8
Credit card		18		18		18		18		17
Other consumer loans and leases		—		—		—		—		—
Total consumer loans and leases		69		63		70		68		65
Total 90 days past due loans and leases(b)	$	76	$	65	$	73	$	75	$	70
Ratios
Net losses charged-off as a percent of average portfolio loans and leases		0.45%		0.37%		0.42%		0.34%		0.80%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases		1.37%		1.38%		1.38%		1.37%		1.35%
As a percent of nonperforming loans and leases(a)		217%		188%		185%		252%		275%
As a percent of nonperforming assets(a)		186%		161%		157%		197%		208%
Nonperforming loans and leases as a percent of portfolio loans and leases and OREO(a)		0.63%		0.74%		0.75%		0.55%		0.49%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(a)		0.73%		0.86%		0.88%		0.70%		0.65%
Nonperforming assets as a percent of total loans, leases and other assets, including OREO		0.83%		0.87%		0.88%		0.70%		0.64%
Allowance for credit losses as a percent of nonperforming assets		210%		180%		174%		218%		230%

(a) Does not include nonaccrual loans held for sale.

(b) Does not include loans held for sale.

32

Use of Non-GAAP Financial Measures

In addition to GAAP measures, management considers various Non-GAAP measures when evaluating the performance of the business, including : “net interest income on an FTE basis,” “net interest margin,” “efficiency ratio,” “income before income taxes on an FTE basis,” “pre-provision net revenue,” “noninterest income excluding certain items,” “tangible net income available to common shareholders,” “average tangible common equity,” “tangible common equity,” “tangible equity,” “tangible book value per common share,” and “Common Equity Tier 1 under Basel III Final Rule (fully phased-in),” and certain ratios derived from these measures.

The FTE basis adjusts for the tax-favored status of income from certain loans and securities held by the Bancorp that are not taxable for federal income tax purposes. The Bancorp believes this presentation to be the preferred industry measurement of net interest income as it provides a relevant comparison between taxable and non-taxable amounts.

Pre-provision net revenue is defined as net interest income plus noninterest income minus noninterest expense. Management believes this measure is important because it provides a ready view of pre-tax earnings before the impact of provision expense. Noninterest income excluding certain items is provided by management to assist the reader in identifying significant, unusual, or large transactions that impacted noninterest income.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding unrealized gains/losses), in addition to capital ratios defined by the U.S. banking agencies. These calculations are intended to complement the capital ratios defined by the U.S. banking agencies for both absolute and comparative purposes. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be Non-GAAP financial measures. Management believes that providing the tangible common equity ratio excluding unrealized gains/losses on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of gains or losses some of which are uncertain and providing the tangible common equity ratio including unrealized gains/losses enables investors and others to assess the Bancorp’s use of equity if all unrealized gains or losses were to be monetized.

Management believes tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of a business as it calculates the return available to common shareholders and book value of common stock without the impact of intangible assets and their related amortization. This is useful for evaluating the performance of a business consistently, whether acquired or developed internally, compared to other companies in the industry who present similar measures.

The Bancorp became subject to the Basel III Final Rule on January 1, 2015 which defined various regulatory capital ratios including the Common Equity Tier 1 (“CET1”) ratio. The CET1 capital ratio has transition provisions that will be phased out over time. CET1 capital ratio is presented on a fully phased-in basis for comparative purposes with other organizations. The Bancorp considers the fully phased-in CET1 ratio a Non-GAAP measure since it is not the CET1 ratio in effect for the periods presented. Since analysts and the U.S. banking agencies may assess the Bancorp’s capital adequacy using these ratios, management believes they are useful to provide investors the ability to assess its capital adequacy on the same basis.

Please note that although Non-GAAP financial measures provide useful insight, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.

Please see page 34 for Reg. G reconciliations of all historical Non-GAAP measures used in this release to the most directly comparable GAAP measures. Management has provided forward-looking guidance on certain Non-GAAP measures in connection with its earnings presentation in order to facilitate comparability with the Bancorp’s historical performance and financial condition as reflected in these Non-GAAP measures. Such forward-looking Non-GAAP measures include return on tangible common equity; net interest margin (FTE); net interest income (FTE); and noninterest income, excluding certain transactions and adjustments related to the Bancorp’s investment in Vantiv, Visa total return swap, and branch sales, closures and consolidations. Bancorp’s management does not estimate on a forward-looking basis the impact of items similar to those that it has excluded to generate these Non-GAAP measures on a historical basis because the occurrence and amounts of items such as these are difficult to predict. As a result, the Bancorp has not provided reconciliations of its forward-looking Non-GAAP measures.

33

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

		For the Three Months Ended
		September 2016		June 2016		March 2016		December 2015		September 2015
Net interest income (U.S. GAAP)		$	907	$	902	$	903	$	899	$	901
Add:	FTE Adjustment		6		6		6		5		5
Net interest income on an FTE basis (a)			913		908		909		904		906
Net interest income on an FTE basis (annualized) (b)			3,632		3,652		3,656		3,587		3,594
Noninterest income (c)			840		599		637		1,104		713
Noninterest expense (d)			973		983		986		963		943
Average interest-earning assets (e)			126,092		126,847		125,651		125,843		124,431
Net interest margin (b)/(e)			2.88%		2.88%		2.91%		2.85%		2.89%
Efficiency ratio (d)/(a)+(c)			55.5%		65.3%		63.8%		48.0%		58.2%
Income before income taxes (U.S. GAAP)			694		427		435		949		515
Add:	FTE Adjustment		6		6		6		5		5
Income before income taxes on an FTE basis			700		433		441		954		520
Net interest income (U.S. GAAP)			907	$	902	$	903	$	899	$	901
Add:	Noninterest income		840		599		637		1,104		713
Less:	Noninterest expense		(973)		(983)		(986)		(963)		(943)
Pre-provision net revenue			774		518		554		1,040		671
Net income available to common shareholders (U.S. GAAP)			501		310		312		634		366
Add:	Intangible amortization, net of tax		—		—		—		—		—
Tangible net income available to common shareholders			501		310		312		634		366
Tangible net income available to common shareholders (annualized) (f)			1,993		1,247		1,255		2,515		1,452
Average Bancorp shareholders’ equity (U.S. GAAP)			16,883		16,584		16,376		15,982		15,815
Less:	Average preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Average goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Average intangible assets and other servicing rights		(10)		(11)		(12)		(13)		(14)
Average tangible common equity (g)			13,126		12,826		12,617		12,222		12,054
Total Bancorp shareholders’ equity (U.S. GAAP)			16,776		16,726		16,323		15,839		15,826
Less:	Preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(10)		(11)		(12)		(13)		(13)
Tangible common equity, including unrealized gains / losses (h)			13,019		12,968		12,564		12,079		12,066
Less:	Accumulated other comprehensive income		(755)		(889)		(684)		(197)		(522)
Tangible common equity, excluding unrealized gains / losses (i)			12,264		12,079		11,880		11,882		11,544
Add:	Preferred stock		1,331		1,331		1,331		1,331		1,331
Tangible equity (j)			13,595		13,410		13,211		13,213		12,875
Total assets (U.S. GAAP)			143,279		143,625		142,430		141,048		141,883
Less:	Goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(10)		(11)		(12)		(13)		(13)
Tangible assets, including unrealized gains / losses (k)			140,853		141,198		140,002		138,619		139,454
Less:	Accumulated other comprehensive income / loss, before tax		(1,162)		(1,368)		(1,052)		(303)		(803)
Tangible assets, excluding unrealized gains / losses (l)		$	139,691	$	139,830	$	138,950		138,316		138,651
Common shares outstanding (m)			756		766		770		785		795
Risk-weighted assets (actual) (n) (1)		$	121,056	$	121,824	$	121,432	$	121,290	$	123,148
Ratios:
Return on average tangible common equity (f) / (g)			15.2%		9.7%		9.9%		20.6%		12.0%
Tangible equity (j) / (l)			9.73%		9.59%		9.51%		9.55%		9.29%
Tangible common equity (excluding unrealized gains/losses) (i) / (l)			8.78%		8.64%		8.55%		8.59%		8.33%
Tangible common equity (including unrealized gains/losses) (h) / (k)			9.24%		9.18%		8.97%		8.71%		8.65%
Tangible book value per share (h) / (m)		$	17.22	$	16.93	$	16.32	$	15.39	$	15.18
Basel III Final Rule - Transition to fully phased-in
		September 2016		June 2016		March 2016		December 2015		September 2015
CET1 capital (transitional)		$	12,299	$	12,112	$	11,914	$	11,917	$	11,574
Less: Adjustments to CET1 capital from transitional to fully phased-in (2)			(4)		(4)		(5)		(8)		(11)
CET1 capital (fully phased-in) (o)			12,295		12,108		11,909		11,909		11,563
Risk-weighted assets (transitional)			121,056		121,824		121,432		121,290		123,148
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (3)			930		932		1,027		1,178		1,136
Risk-weighted assets (fully phased-in) (p)		$	121,986	$	122,756	$	122,459	$	122,468	$	124,284
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (o)/(p)			10.08%		9.86%		9.72%		9.72%		9.30%

(1) Under the banking agencies’ risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk-weight of the category. The resulting weighted values are added together, along with the measure for market risk, resulting in the Bancorp’s total risk-weighted assets.

(2) Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities).

(3) Primarily relates to higher risk-weighting for MSRs.

34

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended September 30, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	462	$	414	$	63	$	40	($	66)	$	913
(Provision for) benefit from loan and lease losses		18		(34)		(12)		—		(52)		(80)
Net interest income after provision for loan and lease losses		480		380		51		40		(118)		833
Total noninterest income		228		163		71		99		279		840
Total noninterest expense		(349)		(402)		(117)		(103)		(2)		(973)
Income (loss) before income taxes		359		141		5		36		159		700
Applicable income tax expense(a)		(80)		(50)		(2)		(13)		(39)		(184)
Net income (loss)		279		91		3		23		120		516
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		279		91		3		23		120		516
Dividends on preferred stock		—		—		—		—		15		15
Net income (loss) available to common shareholders	$	279	$	91	$	3	$	23	$	105	$	501
For the three months ended June 30, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	466	$	433	$	62	$	44	($	97)	$	908
Provision for loan and lease losses		(72)		(35)		(9)		(1)		26		(91)
Net interest income after provision for loan and lease losses		394		398		53		43		(71)		817
Total noninterest income		236		214		80		100		(31)		599
Total noninterest expense		(355)		(409)		(122)		(108)		11		(983)
Income (loss) before income taxes		275		203		11		35		(91)		433
Applicable income tax expense(a)		(49)		(71)		(4)		(12)		32		(104)
Net income (loss)		226		132		7		23		(59)		329
Less: Net income attributable to noncontrolling interests		—		—		—		—		(4)		(4)
Net income (loss) attributable to Bancorp		226		132		7		23		(55)		333
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	226	$	132	$	7	$	23	($	78)	$	310
For the three months ended March 31, 2016(b)	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	457	$	426	$	60	$	43	($	77)	$	909
Provision for loan and lease losses		(65)		(34)		(12)		—		(8)		(119)
Net interest income after provision for loan and lease losses		392		392		48		43		(85)		790
Total noninterest income		223		189		83		100		42		637
Total noninterest expense		(363)		(411)		(118)		(107)		13		(986)
Income (loss) before income taxes		252		170		13		36		(30)		441
Applicable income tax expense(a)		(41)		(60)		(5)		(13)		5		(114)
Net income (loss)		211		110		8		23		(25)		327
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		211		110		8		23		(25)		327
Dividends on preferred stock		—		—		—		—		15		15
Net income (loss) available to common shareholders	$	211	$	110	$	8	$	23	($	40)	$	312
For the three months ended December 31, 2015(b)	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	425	$	406	$	63	$	37	($	27)	$	904
Provision for loan and lease losses		(27)		(35)		(11)		—		(18)		(91)
Net interest income after provision for loan and lease losses		398		371		52		37		(45)		813
Total noninterest income		223		186		80		101		514		1,104
Total noninterest expense		(338)		(393)		(116)		(112)		(4)		(963)
Income before income taxes		283		164		16		26		465		954
Applicable income tax expense(a)		(55)		(57)		(6)		(9)		(170)		(297)
Net income		228		107		10		17		295		657
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		228		107		10		17		295		657
Dividends on preferred stock		—		—		—		—		23		23
Net income available to common shareholders	$	228	$	107	$	10	$	17	$	272	$	634
For the three months ended September 30, 2015(b)	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	418	$	395	$	62	$	33	($	2)	$	906
Provision for loan and lease losses		(195)		(37)		(11)		—		87		(156)
Net interest income after provision for loan and lease losses		223		358		51		33		85		750
Total noninterest income		228		197		76		102		110		713
Total noninterest expense		(334)		(404)		(107)		(112)		14		(943)
Income before income taxes		117		151		20		23		209		520
Applicable income tax expense(a)		4		(53)		(7)		(9)		(74)		(139)
Net income		121		98		13		14		135		381
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		121		98		13		14		135		381
Dividends on preferred stock		—		—		—		—		15		15
Net income available to common shareholders	$	121	$	98	$	13	$	14	$	120	$	366

(a) Includes taxable equivalent adjustments of $6 million for the three months ended September 30, 2016, June 30, 2016 and March 31, 2016 and $5 million for the three months ended December 31, 2015 and September 30, 2015.

(b) Prior period balances have been adjusted to reflect changes in internal allocation methodologies.

(c) Branch Banking provides a full range of deposit and loan and lease products to individuals and small businesses through full-service banking centers.

(d) Consumer Lending includes the Bancorp’s residential mortgage, home equity, automobile and other indirect lending activities.

35

EX-99.2

Fifth Third Bank | All Rights Reserved

3Q16 Earnings Presentation

October 20, 2016

Refer to earnings release dated October 20, 2016 for further information.

Exhibit 99.2

2

Fifth Third Bank | All Rights Reserved

Cautionary statement

This presentation should be viewed in conjunction with the webcast presentation of our third quarter earnings call on October 20, 2016 and Form 8-K filed

on October 20, 2016. This release 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,” “anticipates,”

“potential,” “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 as updated from time to time by our Quarterly Reports on Form 10-Q. 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 is a risk that

additional information may become known during the company’s quarterly closing process or as a result of subsequent events that could affect the

accuracy of the statements and financial information contained herein.

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 or real estate market conditions, either

nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, weaken or 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 and adequate sources of funding and liquidity 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 Fifth Third’s

investment in, relationship with, and nature of the operations of Vantiv, LLC; (21) loss of income from any sale or potential sale of businesses; (22)

difficulties in separating the operations of any branches or other assets divested; (23) losses or adverse impacts on the carrying values of branches and

long-lived assets in connection with their sales or anticipated sales; (24) inability to achieve expected benefits from branch consolidations and planned

sales within desired timeframes, if at all; (25) ability to secure confidential information and deliver products and services through the use of computer

systems and telecommunications networks; and (26) 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.

In this presentation, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful

insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.

We provide GAAP reconciliations for non-GAAP measures in a later slide in this presentation as well as in our earnings release, both of which are

.

available in the investor relations section of our website, www.53.com.

3

Fifth Third Bank | All Rights Reserved

•

NII increased $5MM sequentially while NIM

remained

stable

at

2.88%

1

•

Reported noninterest income up 40% sequentially

primarily driven by Vantiv

TRA-related items

•

Stable underlying fee revenue

•

Adjusted

1

: down 1% sequentially primarily due to the

change in MSR valuation adjustments

•

Tightly controlled operating expenses

•

Reported noninterest expenses down $10 million

sequentially

•

Adjusted

1

expenses down 1% sequentially

•

Strategic investments on-track

•

Overall credit conditions benign and in-line with

expectations

Third Quarter 2016

Highlights

Earnings Per

Share

Reported $0.65

Included $0.22 net positive impact

from certain items

Net Income to

Common

$501 million

LCR

115%

1

Non-GAAP measure: see Reg G reconciliation on page 23 of this presentation and use of non-GAAP measures on page 33 of the earnings release

2

See page 4 of this presentation for impact of certain items

2

4

Fifth Third Bank | All Rights Reserved

3Q16 in review

1

Excludes loans held-for-sale

2

Non-GAAP measure: see Reg G reconciliation on pages 22 and 23 of this presentation and use of non-GAAP measures on page 33 of the earnings release

Significant pre-tax items in 3Q16 results

($0.22 net positive after-tax EPS impact):

—

$280MM pre-tax (~$182MM after-tax) gain

from the termination and settlement of gross

cash flows from Vantiv TRA

—

$28MM pre-tax (~$18MM after-tax) non-cash

impairment charge related to previously

announced changes to the branch network

—

$12MM pre-tax (~$8MM after-tax) charge

related to the Visa total return swap

—

$11MM pre-tax (~$7MM after-tax) gain on the

sale of a non-branch facility

—

$9MM pre-tax (~$6MM after-tax) charge from

the transfer of certain nonconforming

investments affected by the Volcker Rule to

held-for-sale

—

$8MM beneficial tax impact in connection

with certain commercial lease terminations

Core businesses showed solid results given

challenging market conditions

—

Mortgage origination volumes up 7% QoQ

Credit trends

—

NCO ratio of 45 bps; up 8

bps sequentially

—

NPA ratio of 73 bps; down 13 bps

sequentially 

5

$93.4

$93.6

$93.3

$93.9

$93.5

70

75

80

85

90

95

3Q15

4Q15

1Q16

2Q16

3Q16

Balance sheet

HFI Loan balances ($B)

•

Average commercial loans down 1%

sequentially; up 1% year-over-year

–

C&I down 2%, CRE up 3%

sequentially

–

C&I flat, CRE up 7% YoY

•

Average consumer loans flat

sequentially; down 2% year-over-year

–

Automobile loans decreased 3%

sequentially and 12% YoY

$94.7

$95.7

$94.7

$94.9

$94.9

95%

94%

94%

95%

95%

80%

85%

90%

95%

100%

65

70

75

80

85

90

95

100

3Q15

4Q15

1Q16

2Q16

2Q16

•

Average transaction deposits were flat

sequentially, driven by lower savings &

interest checking, partially offset by higher

money market account balances

–

Excl. Pennsylvania and St. Louis

deposits sold, core deposits were flat 

sequentially and up 1% YoY

•

Average loan to core deposit ratio of 95%

•

LCR of 115% at 3Q16

Core and transaction deposits flat YoY

Average core deposit balances ($B)

$98.9

$98.7

Average securities and short-term

investments ($B)

•

Average securities up $1.5B year-over-

year driven by:

–

LCR requirement additions

–

Positioning to maintain steady and

cautious interest rate risk strategy

•

Average securities portfolio / total

assets of 20.9% compared to 20.1% in

3Q15

$31.6

$32.0

$30.1

$31.3

Note: Numbers may not sum due to rounding.

$28.3

$29.0

$29.7

$30.1

$29.8

0

5

10

15

20

25

30

35

3Q15

4Q15

1Q16

2Q16

3Q16

$31.7

Outlook: 1% FY 2016 loan growth (ex. HFS)

Continuing to maintain pricing discipline

Avg flat YoY

Average securities

Short-term investments

Transaction deposits

Other time deposits

Loan to core deposit ratio

Fifth Third Bank | All Rights Reserved

6

Fifth Third Bank | All Rights Reserved

•

Sequential comparisons:

–

NII increase driven by improving investment portfolio yields, an increase in 1-month LIBOR, and day count, partially offset

by the full quarter impact of $1.25 billion of unsecured debt issued in 2Q16 and lower average C&I loan balances

–

NIM stable from previous quarter, as the impact of higher yielding investments and an increase in 1-month LIBOR were

offset by the full quarter impact of the debt issuance and day count

•

Year-over-year comparisons:

–

NII increase primarily driven by the impact of higher investment securities balances, as well as short-term market rate

improvements from the December 2015 Fed funds rate increase

–

NIM decrease primarily driven by an increase in long-term debt, lower commercial loan yields, and a decrease in cash

flow hedges, partially offset by the December 2015 Fed funds rate increase

Net interest income

Outlook: FY NII up 2% and NIM up 1 bp from 2015; Q4 NII down slightly and NIM to remain stable or down 1 bp

Assumes no rate increases in 2016

1

Non-GAAP measure: see Reg G reconciliation on page 23 of this presentation and use of non-GAAP measures on page 33 of the earnings release

7

Fifth Third Bank | All Rights Reserved

Outlook:

5%

annual

fee

growth

2

Noninterest income

1

Non-GAAP measure; see Reg G reconciliation on page 23 of this presentation and use of non-GAAP measures on page 33 of the earnings release

2

2015 excludes a $704MM benefit from gains on Vantiv share sales and warrant actions, warrant valuation adjustments, and the TRA settlement. 2016 excludes a $344MM benefit from

Vantiv warrant valuation adjustments and the TRA settlement, a $61MM detriment from the Visa total return swap adjustments, $19MM in gains on sales of certain branches, and a $28MM

impairment charge related to branch closures and consolidations

•

Sequentially,

adjusted

noninterest

income

1

down

$6

million,

or

1

percent,

primarily

due

to:

–

The change in net mortgage servicing rights (MSR) valuation adjustments

–

Corporate banking revenue from lower syndication revenue and foreign exchange fees

•

Year-over-year

adjusted

noninterest

income

1

up

$5

million,

or

1

percent,

primarily

due

to:

–

Increases in corporate banking revenue and card and processing revenue

8

Fifth Third Bank | All Rights Reserved

Noninterest expense

•

Adjusted expenses  down 1% sequentially, primarily due to:

–

Decrease in compensation-related expenses due to the previously disclosed review of business units and

staff functions, as well as reduced card and processing expense

•

Adjusted expenses  up 3% YoY, primarily due to:

–

Personnel additions in risk and compliance and information technology and the change for provision for

unfunded commitments, partially offset by a decrease in card and processing expense primarily due to

contract renegotiations

Note: Provision for unfunded commitments was an expense of  $11MM in 3Q16, $7MM in 2Q16, $6MM in 3Q15, $4MM in 4Q15, and $2MM in 3Q15

1

Non-GAAP measure; see Reg G reconciliation on page 23 of this presentation and use of non-GAAP measures on page 33 of the earnings release

Outlook: < 4% annual growth

1

1

9

Fifth Third Bank | All Rights Reserved

46

46

42

41

44

34

54

46

63

$188

$80

$96

$87

$107

$0

$25

$50

$75

$100

$125

$150

$175

$200

3Q15

4Q15

1Q16

2Q16

3Q16

Net charge-offs ($MM)

Consumer

Commercial

0.80%

0.34%

0.42%

0.37%

0.45%

Credit quality overview

NCO ratio

HFI Non-performing assets ($MM)

1

Charge-off related to restructuring of a student loan backed commercial credit originally extended in 2007

•

3Q16

charge-offs up 8

bps from 2Q16

–

Includes $22MM increase in C&I loan NCOs

•

3Q16 portfolio NPA decrease of $122MM from

2Q16

–

Broad-based improvement in commercial

portfolio NPAs

•

3Q16 reserve of 1.37% down 1 bp sequentially

Outlook: NCOs range-bound around recently observed levels (ex. student loan credit from 3Q15) with some quarterly

variability; provision reflective of loan growth

NPA ratio    0.65%             0.70%

0.88%             0.86%   

0.73%   

102

1

40

10

Fifth Third Bank | All Rights Reserved

Strong capital and liquidity position

1

Current period regulatory capital ratios are estimated

Capital Update

CET1 remained strong at 10.16%, up 22 bps sequentially and 76 bps from 3Q15

Tier I risk-based capital 11.26%; Total risk-based capital ratio 14.87%; Leverage

ratio 9.80%

$240MM accelerated share repurchase transaction on August 5, 2016 retiring

10.98MM shares

—

Includes CCAR repurchases  as well as 3Q16 after-tax cash flows realized

from Vantiv

termination and settlement

Liquidity Update

Bancorp LCR of 115%  at 3Q16

1

11

Fifth Third Bank | All Rights Reserved

Average loans & leases

(excl. HFS)

Net interest income (FTE)

1

Net interest margin (FTE)

1

Noninterest income

2

Noninterest expense

Effective tax rate

Net charge-offs

Loan loss provision

Category

Fifth Third: current outlook

As of October 20, 2016

1

Non-GAAP measure; See Reg

G reconciliation on page 23 of this presentation and use of non-GAAP measures on page 33 of the earnings release

2

2015 excludes a $704MM benefit from gains on Vantiv

share sales and warrant actions, warrant valuation adjustments, and the TRA settlement. 2016 excludes a $344MM

benefit from Vantiv

warrant valuation adjustments and the TRA settlement, a $61MM detriment from the Visa total return swap adjustments, $19MM in gains on sales of

certain branches, and a $28MM impairment charge related to branch closures and consolidations

Note: Previous and current outlook excludes potential, but currently unforecasted, items, such as any potential additional Vantiv

gains or losses, future capital actions, or

changes in regulatory or accounting guidance.

Outlook as of October 20, 2016;

please see cautionary statement on slide 2 regarding forward-looking statements

FY16:

average total loan growth of 1%

FY16: 2% growth; 4Q16

down slightly

FY16: up 1 bp; 4Q16

stable to down 1 bp

from 3Q16

FY16: 5% growth

FY16: <

4% growth

4Q16:

23.5% -

24.5% range

Range-bound with quarterly variability

To be reflective of loan growth

12

Fifth Third Bank | All Rights Reserved

Appendix

13

Fifth Third Bank | All Rights Reserved

Pre-tax pre-provision earnings and efficiency

ratio trend

1

Non-GAAP measures: see Reg G reconciliation on page 23 of this presentation and use of non-GAAP measures on page 33 of the earnings release

2

Prior quarters include similar adjustments.

Adjusted PPNR up 1% sequentially

–

Due to increases in net interest income and

service charges on deposits

Adjusted PPNR down 4% YoY

–

Driven by personnel expenses and changes in

net MSR valuation adjustments

PPNR reconciliation

1

14

$250

$500

$500

$500

$1,100

$2,312

$0

$500

$1,000

$1,500

$2,000

$2,500

2016¹

2017

2018

2019

2020

2021 on

Fifth Third Bancorp

Fifth Third Capital Trust (Bancorp)

$1,750

$650

$1,850

$2,600

$2,850

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2016

2017

2018

2019

2020

2021 On

Fifth Third Bank

Available and contingent borrowing capacity (3Q16):

–

FHLB ~$11.5B available, ~$14.9B total

–

Federal Reserve ~$25.5B

Holding Company:

Bancorp LCR of 115% at 9/30/16

Holding Company cash at 9/30/16: $2.3B

Cash currently sufficient to satisfy all fixed obligations in a stressed

environment for ~20 months (debt maturities, common and preferred

dividends, interest and other expenses) without accessing capital

markets; relying on dividends from subsidiaries or any other

discretionary actions

Bank Entity:

No long-term debt maturities in 3Q16. During the quarter the Bank

delivered notice of redemption of $1.75B of senior notes to be

redeemed on 10/19/16. These notes had an original maturity date of

11/18/16

Also during the quarter the Bank issued $1.0B of 3-year senior debt in

two tranches -

$750MM fixed and $250MM of floating rate securities

2016 Funding Plans:

As of 9/30/16, Fifth Third has completed the refinancing of all 2016 debt

maturities and believes these actions are sufficient to satisfy Moody’s

LGF methodology

Holding company unsecured

debt maturities ($MM)

Bank unsecured debt maturities

($MM –

excl. Retail Brokered & Institutional CDs)

Heavily core funded as of 9/30/16

Strong liquidity profile

1

Represents remaining debt maturities in 2016.

1

Fifth Third Bank | All Rights Reserved

S-T

wholesale

4%

15

Fifth Third Bank | All Rights Reserved

Balance sheet positioning

Commercial

Loans

1,2

Investment

Portfolio

Consumer

Loans

1

Note: All data as of 9/30/16

1

Includes HFS Loans & Leases

2

Fifth Third had $4.48BN 1ML receive-fix swaps outstanding against C&I loans, which are now being included in fixed

3

Fifth Third had $3.46BN 3ML receive-fix swaps outstanding against long term debt, which are now being included in floating

•

Fixed: $14.3B

1, 2

•

Float: $43.3B

1, 2

•

1ML based: 61%

(of total commercial)

•

3ML based: 8%  (of total commercial)

•

6ML based:

1% (of total commercial)

•

Prime based: 5% (of total commercial)

•

Weighted Avg. Life: 1.78 years

•

48% allocation to bullet/locked-out

cash flow securities

•

Investment portfolio yield: 3.18%

•

Duration: 4 years

•

Net unrealized pre-tax gain: $1.2B

•

98% AFS

•

Fixed: $26.5B

1

•

Float: $10.2B

1

•

12ML based: 4%  (of total consumer)

•

Prime based: 24% (of total consumer)

•

Weighted Avg. Life: 3.32 years

•

Avg. duration of Auto book: 1.30 years

Long Term

Debt

3

Key Characteristics

Balance Sheet Mix

Fixed vs. Floating

Level 1

100% Fix  /  0% Float

Level 2A

100% Fix  /  0% Float

Non-HQLA

75% Fix  /  25% Float

C&I

20% Fix  /  80% Float

Commercial

Mortgage

24% Fix  /  76% Float

4% Fix  /  96% Float

Commercial

Construction

100% Fix  /  0% Float

Commercial

Lease

Resi Mtg &

Construction

90% Fix  /  10% Float

Auto

100% Fix  /  0% Float

10% Fix  /  90% Float

Home Equity

30% Fix  /  70% Float

Credit Card

100% Fix  /  0% Float

Other

•

Fixed: $11.8B

3

•

Float: $5.1B

3

•

1ML based: <1% (of total long term debt)

•

3ML based: 30%  (of total long term debt)

•

Weighted Avg. Life: 4.59 years

Senior Debt

30% Fix  /  70% Float

Sub Debt

94% Fix  /  6% Float

96% Fix  /  4% Float

Auto Securiz.

Proceeds

0% Fix  /  100% Float

TRUPS

100% Fix  /  0% Float

Other

35%

46%

19%

74%

12%

7%

7%

21%

28%

2%

6%

43%

65%

25%

8%

<1%

15

Fifth Third Bank | All Rights Reserved

16

Fifth Third Bank | All Rights Reserved

Interest rate risk management

Note: Data as of 9/30/16

1.

Actual

results

may

vary

from

these

simulated

results

due

to

differences

between

forecasted

and

actual

balance

sheet

composition,

timing,

magnitude,

and

frequency

of

interest

rate

changes, as well as other changes in market conditions and management strategies. 

2.

Re-pricing percentage or “beta” is the estimated change in yield over 12 months as a result of a shock or ramp 100 bps parallel shift in the yield curve

•

NII benefits from asset rate reset in a rising rate environment

–

57% of total loans are floating rate (75% of commercial considering impacts of interest rate swaps and 28% of consumer)

–

Investment portfolio duration of 4 years

–

Short-term wholesale funding represents approximately 12% of total wholesale funding, or 2% of total funding

–

Approximately $12B in non-core funding matures beyond one year

•

Interest rate sensitivity tables are based on conservative deposit assumptions

–

70%

beta

on

all

interest-bearing

deposit

and

sweep

balances

(~50%

betas

experienced

in

2004

–

2006

Fed

tightening

cycle)

–

No modeled re-pricing lag

–

Modeled non-interest bearing commercial DDA runoff of approximately $2.5B (about 10%) for each 100 bps increase in

rates

–

DDA runoff rolls into an interest bearing product with a 100% beta

17

Fifth Third Bank | All Rights Reserved

Mortgage banking results

•

$2.9B in originations; 51% purchase volume

•

3Q16 mortgage drivers:

–

Origination fees and gain on sale revenue up $7MM, or 13%, sequentially

–

Gain on sale margin up 39 bps sequentially

–

MSR valuation adjustments of negative $9MM; servicing rights amortization of ($35MM)

–

$49MM in gross servicing fees

•

YoY

decline in mortgage banking revenue driven primarily by changes in the net MSR valuation

adjustments;  revenue up 19% excluding MSR valuation adjustments

1

Gain on sale margin represents gains on all loans originated for sale.

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

3Q15

4Q15

1Q16

2Q16

3Q16

Mortgage originations and gain on sale

margin

Originations for sale

Originations HFI

Margin

1

46

37

42

54

61

54

53

52

50

49

(37)

(29)

(27)

(35)

(35)

8

13

11

6

(9)

3Q15

4Q15

1Q16

2Q16

3Q16

Mortgage Banking Revenue ($MM)

Orig fees and gains on loan sales

Gross servicing fees

Servicing rights amortization

MSR valuation adjustments

1

18

Fifth Third Bank | All Rights Reserved

$116

$34

$41

$163

$0

$50

$100

$150

$200

$250

$300

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

1Q18

2Q18

3Q18

4Q18

~$1

$331MM

3Q16 termination and settlement of estimated $331MM gross cash flows expected to be

payable to Fifth Third from

2019 –

2035 in exchange for a $116MM payment; $116MM

pre-tax gain realized by Fifth Third in 3Q16

$75MM

Existing

annual

TRA

payments

expected

to

be

recognized

in

4Q16

and

4Q17

are

not

impacted

$394MM

Agreement to terminate and settle estimated $394MM remaining gross cash flows

expected to be payable

to Fifth Third

from 2019-2035 in exchange

for expected

payments from exercises of quarterly options   starting in 1Q17 through 4Q18 totaling

$171MM pre-tax; resulted in 3Q16 $163MM pre-tax gain and corresponding receivable

on Fifth Third’s balance sheet

Estimated potential GAAP income recognition

(within noninterest income)

($s in millions; pre-tax)

$116

$15

$16

$16

$17

$26

$26

$27

$28

$34

$41

$0

$25

$50

$75

$100

$125

$150

3Q16

4Q16

1Q17

2Q17

3Q17

4Q17

1Q18

2Q18

3Q18

4Q18

Estimated TRA cash flows

1,2

($s in millions; pre-tax)

Continued monetization of Vantiv

1

Options can either be executed by Vantiv

or Fifth Third and generate payments to Fifth Third. Projections assume put/call options are exercised every quarter.

2

Fifth Third received a “non-objection” from the Federal Reserve for the ability to repurchase shares in the amount of any realized after-tax gains from the termination and

settlement of any portion of the tax receivable agreement with Vantiv. This excludes the estimated existing annual TRA payment of $34 million in 1Q17 and $41 million in 1Q18.

3

Based on the analysis performed by Vantiv, Inc. disclosed in its second quarter Form 10-Q.

Continue to have additional potential TRA gross cash flows, based on additional share sales, of $1.2 billion

~$800MM

expected

gross

cash

flows from

existing TRA

monetized in

3Q16

~$1

~$1

~$1

~$1

~$1

~$1

~$1

~$1

Realized

in 3Q16

Recognized

in 3Q16

3

1

1

19

Fifth Third Bank | All Rights Reserved

Limited UK and other European exposure

Note: As of 9/30/16; Data above includes the Bancorp’s exposure to all European domiciled and U.S. subsidiaries of European businesses as well as European financial institutions.

1

Total exposure includes funded and unfunded commitments, net of collateral; funded exposure excludes unfunded exposure

2

Peripheral Europe includes Greece, Ireland, Italy, Portugal and Spain

3

Eurozone includes countries participating in the European common currency (Euro)

4

Other Europe includes European countries not part of the Euro (primarily Switzerland and Norway)

5

Current period regulatory capital data is estimated.

•

Fifth Third continues to monitor developments in Europe

•

Portfolio well diversified, primarily global public businesses with solid credit quality (probability of

default rating in-line with overall Commercial portfolio)

•

Exposure primarily related to trade finance and financing activities of U.S. companies with foreign parent

or overseas activities of U.S. customers

•

Direct

UK

exposure

represents

6.5%

of

CET1

5

•

No sovereign exposures

•

$1.5B in funded European exposure represents less than 2% of total loan portfolio

•

Funded European exposure down 15% since 2Q16; peripheral Europe down 64%

20

Fifth Third Bank | All Rights Reserved

NPL rollforward

Credit trends

Residential Mortgage

Commercial & Industrial

Home Equity & Automobile

Commercial Real Estate

* Excludes loans held-for-sale.

21

Fifth Third Bank | All Rights Reserved

22

Fifth Third Bank | All Rights Reserved

Regulation G Non-GAAP reconciliation

See page 33 of the earnings release for a discussion on the use of non-GAAP financial measures.

23

Fifth Third Bank | All Rights Reserved

Regulation G Non-GAAP reconciliation

See page 33 of the earnings release for a discussion on the use of non-GAAP financial measures.

EX-99.3

Exhibit 99.3

October 2016

QUARTERLY FINANCIAL SUPPLEMENT

Investment Community Member:

To assist in your financial analysis, the following supplement of most requested information concerning Fifth Third Bancorp is provided.

Numbers are unaudited for quarterly information.

If you need further information, please fax or e-mail your request to Fifth Third’s Investor Relations Department at (513) 534-0629 or IR@53.com

Sameer Gokhale

Senior Director

Investor Relations

(513) 534-2219

Quarterly Data

	Three Months Ended
	September		June		March		December		September		June		March		December
	2016		2016		2016		2015		2015		2015		2015		2014
Ratios (percent)
Return on average assets		1.44		0.94		0.93		1.83		1.07		0.90		1.06		1.13
Return on average common equity		12.8		8.2		8.3		17.2		10.0		8.1		9.7		10.0
Average total Bancorp shareholders’ equity as a percent of average assets		11.83		11.60		11.57		11.26		11.24		11.32		11.50		11.54
Net interest margin(a)(d)		2.88		2.88		2.91		2.85		2.89		2.90		2.86		2.96
Efficiency(a)(d)		55.5		65.3		63.8		48.0		58.2		65.4		62.3		59.6
Net losses charged-off as a percent of average portfolio loans and leases		0.45		0.37		0.42		0.34		0.80		0.37		0.41		0.83
ALLL as a percent of portfolio loans and leases		1.37		1.38		1.38		1.37		1.35		1.39		1.42		1.47
Allowance for credit losses as a percent of portfolio loans and leases(c)		1.54		1.54		1.54		1.52		1.49		1.54		1.57		1.62
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(b)		0.73		0.86		0.88		0.70		0.65		0.67		0.76		0.82
Allowance for loan and lease losses as a percent of nonperforming assets(b)		186		161		157		197		208		206		188		178
Allowance for credit losses as a percent of nonperforming assets(b)		210		180		174		218		230		228		207		196
Common Share Data
Earnings per share - basic	$	0.66	$	0.40	$	0.40	$	0.80	$	0.46	$	0.36	$	0.42	$	0.44
Earnings per share - diluted	$	0.65	$	0.40	$	0.40	$	0.79	$	0.45	$	0.36	$	0.42	$	0.43
Cash dividends per common share		0.13		0.13		0.13		0.13		0.13		0.13		0.13		0.13
Book value per share		20.44		20.09		19.46		18.48		18.22		17.62		17.83		17.35
Common shares outstanding, excluding treasury		755,582,255		766,345,770		770,470,768		785,080,314		795,439,309		810,054,148		815,190,210		824,046,952
Market price per share:
High	$	20.92	$	19.30	$	19.61	$	21.06	$	21.71	$	21.69	$	20.21	$	20.69
Low		16.70		16.13		13.94		18.28		18.23		18.91		17.22		17.74
End of period		20.46		17.59		16.69		20.10		18.91		20.82		18.85		20.38
Supplemental Data
Common dividends declared ($ in millions)	$	99	$	100	$	100	$	102	$	103	$	105	$	106	$	107
Full-time equivalent employees		18,072		18,051		18,200		18,260		18,311		18,527		18,471		18,351
Banking centers		1,191		1,191		1,241		1,254		1,295		1,299		1,303		1,302
ATMs		2,497		2,514		2,556		2,593		2,650		2,630		2,637		2,638

(a) Presented on a fully taxable equivalent basis (FTE).

(b) Excludes nonperforming assets held for sale.

(c) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(d) This is a non-GAAP measure.

Quarterly Data

	Three Months Ended
	September		June		March		December		September		June		March		December
	2016		2016		2016		2015		2015		2015		2015		2014
Income Statement ($ in millions)
Interest income (taxable equivalent)(d)	$	1,063	$	1,052	$	1,044	$	1,035	$	1,031	$	1,008	$	975	$	1,016
Interest expense		150		144		135		131		125		116		123		128
Net interest income (taxable equivalent)(d)		913		908		909		904		906		892		852		888
Provision for loan and lease losses		80		91		119		91		156		79		69		99
Noninterest income:
Service charges on deposits		143		138		137		144		145		139		135		142
Wealth and asset management revenue		101		101		102		102		103		105		108		100
Corporate banking revenue		111		117		102		104		104		113		63		120
Mortgage banking net revenue		66		75		78		74		71		117		86		61
Card and processing revenue		79		82		79		77		77		77		71		76
Other noninterest income		336		80		136		602		213		1		163		150
Securities gains, net		4		6		3		1		—		4		4		4
Total noninterest income		840		599		637		1,104		713		556		630		653
Noninterest expense:
Salaries, wages and incentives		400		407		403		386		387		383		369		366
Employee benefits		78		85		100		74		72		78		99		79
Net occupancy expense		73		75		77		83		77		83		79		77
Technology and communications		62		60		56		59		56		54		55		54
Equipment expense		29		30		30		32		31		31		31		30
Card and processing expense		30		37		35		40		40		38		36		36
Other noninterest expense		301		289		285		289		280		280		254		276
Total noninterest expense		973		983		986		963		943		947		923		918
Income before income taxes (taxable equivalent)(d)		700		433		441		954		520		422		490		524
Taxable equivalent adjustment		6		6		6		5		5		5		5		5
Income before income taxes		694		427		435		949		515		417		485		519
Applicable income tax expense		178		98		108		292		134		108		124		134
Net income	$	516	$	329	$	327	$	657	$	381	$	309	$	361	$	385
Less: Net income attributable to noncontrolling interests		—		(4)		—		—		—		(6)		—		—
Net income attributable to Bancorp	$	516	$	333	$	327	$	657	$	381	$	315	$	361	$	385
Dividends on preferred stock		15		23		15		23		15		23		15		23
Net income available to common shareholders	$	501	$	310	$	312	$	634	$	366	$	292	$	346	$	362
Regulatory Capital Data ($ in millions)(a)	Basel III Transitional														Basel I
CET1 capital	$	12,299	$	12,112	$	11,914	$	11,917	$	11,574	$	11,582	$	11,543		N/A
Additional tier I capital		1,331		1,331		1,330		1,343		1,340		1,340		1,339		N/A
Tier I capital	$	13,630	$	13,443	$	13,244	$	13,260	$	12,914	$	12,922	$	12,882	$	12,764
Tier II capital		4,374		4,414		4,553		3,874		3,935		3,909		4,112		4,131
Total regulatory capital	$	18,004	$	17,857	$	17,797	$	17,134	$	16,849	$	16,831	$	16,994	$	16,895
Risk-weighted assets	$	121,056(b)	$	121,824(b)	$	121,432(b)	$	121,290(b)	$	123,148(b)	$	122,986(b)	$	121,310(b)	$	117,878
CET1 capital ratio		10.16%(b)		9.94%(b)		9.81%(b)		9.82%(b)		9.40%(b)		9.42%(b)		9.52%(b)		N/A
Tier I risk-based capital ratio		11.26%(b)		11.03%(b)		10.91%(b)		10.93%(b)		10.49%(b)		10.51%(b)		10.62%(b)		10.83%
Total risk-based capital ratio		14.87%(b)		14.66%(b)		14.66%(b)		14.13%(b)		13.68%(b)		13.69%(b)		14.01%(b)		14.33%
Tier I leverage ratio		9.80%		9.64%		9.57%		9.54%		9.38%		9.44%		9.59%		9.66%
Tier I common equity ratio		N/A		N/A		N/A		N/A		N/A		N/A		N/A		9.65%(c)
CET1 capital ratio (fully phased-in)		10.08%(b) (c)		9.86%(b)(c)		9.72%(b)(c)		9.72%(b)(c)		9.30%(b)(c)		9.31%(b)(c)		9.41%(b)(c)		N/A

(a) Current period regulatory capital data and ratios are estimated.

(b) Under the banking agencies’ risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk-weight of the category. The resulting weighted values are added together, along with the measure for market risk, resulting in the Bancorp’s total risk-weighted assets.

(c) This ratio has been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. This is a non-GAAP measure.

(d) These are non-GAAP measures.

Quarterly Data

	As of
	September		June		March		December		September		June		March		December
	2016		2016		2016		2015		2015		2015		2015		2014
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	2,164	$	2,359	$	2,298	$	2,540	$	2,455	$	2,785	$	2,920	$	3,091
Available-for-sale and other securities		30,689		31,455		29,891		29,044		28,799		27,987		26,409		22,408
Held-to-maturity securities		56		62		64		70		157		157		177		187
Trading securities		431		401		405		386		374		370		392		360
Other short-term investments		2,995		1,818		1,778		2,671		1,994		3,451		4,919		7,914
Total cash and securities		36,335		36,095		34,436		34,711		33,779		34,750		34,817		33,960
Loans held for sale		1,060		877		803		903		994		995		724		1,261
Portfolio loans and leases		93,151		93,909		93,605		92,582		93,574		92,703		91,244		90,084
Total loans and leases		94,211		94,786		94,408		93,485		94,568		93,698		91,968		91,345
Allowance for loan and lease losses		(1,272)		(1,299)		(1,295)		(1,272)		(1,261)		(1,293)		(1,300)		(1,322)
Bank premises and equipment		2,084		2,144		2,185		2,239		2,264		2,298		2,433		2,465
Operating lease equipment		771		756		738		707		680		670		695		728
Goodwill		2,416		2,416		2,416		2,416		2,416		2,416		2,416		2,416
Intangible assets		10		10		11		12		13		13		14		15
Servicing rights		619		621		685		785		757		854		789		858
Other real estate owned		91		107		119		137		149		163		187		217(a)
Other assets		8,014		7,989		8,727		7,828		8,518		8,059		8,418		7,988
Total assets	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883	$	141,628	$	140,437	$	138,670
Liabilities
Deposits:
Demand	$	35,625	$	36,137	$	35,858	$	36,267	$	34,832	$	35,449	$	35,343	$	34,809
Interest checking		24,483		24,571		25,182		26,768		24,832		27,074		27,191		26,800
Savings		14,019		14,356		14,738		14,601		14,632		14,976		15,355		15,051
Money market		19,910		19,125		19,377		18,494		18,887		17,900		18,105		17,083
Foreign office		518		453		441		464		754		728		811		1,114
Other time		3,971		4,021		4,049		4,019		4,041		4,050		4,044		3,960
Certificates - $100,000 and over		2,745		2,778		2,830		2,592		2,915		2,846		2,566		2,895
Other foreign office		—		430		—		—		—		—		—		—
Total deposits		101,271		101,871		102,475		103,205		100,893		103,023		103,415		101,712
Federal funds purchased		126		108		134		151		132		126		200		144
Other short-term borrowings		3,494		3,979		3,523		1,507		4,904		4,136		1,413		1,556
Other liabilities		4,694		4,682		4,638		4,505		4,604		5,214		5,483		4,662
Long-term debt		16,890		16,231		15,305		15,810		15,492		13,491		14,022		14,931
Total liabilities	$	126,475	$	126,871	$	126,075	$	125,178	$	126,025	$	125,990	$	124,533	$	123,005
Equity
Common and preferred equity	$	19,307	$	18,914	$	18,638	$	18,406	$	17,867	$	17,578	$	17,421	$	17,169
Net unrealized gains:
Available-for-sale securities		765		879		685		238		528		327		608		475
Qualifying cash flow hedges		48		70		61		22		58		29		47		23
Accumulated other comprehensive income related to employee benefit plans		(58)		(60)		(62)		(63)		(64)		(65)		(67)		(69)
Treasury stock, at cost		(3,286)		(3,077)		(2,999)		(2,764)		(2,563)		(2,264)		(2,145)		(1,972)
Total Bancorp shareholders’ equity		16,776		16,726		16,323		15,839		15,826		15,605		15,864		15,626
Noncontrolling interests		28		28		32		31		32		33		40		39
Total equity	$	16,804	$	16,754	$	16,355	$	15,870	$	15,858	$	15,638	$	15,904	$	15,665
Total liabilities and equity	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883	$	141,628	$	140,437	$	138,670
Share Data
Preferred shares outstanding - Series H		24,000		24,000		24,000		24,000		24,000		24,000		24,000		24,000
Preferred shares outstanding - Series I		18,000		18,000		18,000		18,000		18,000		18,000		18,000		18,000
Preferred shares outstanding - Series J		12,000		12,000		12,000		12,000		12,000		12,000		12,000		12,000
Common shares outstanding, excluding treasury		755,582,255		766,345,770		770,470,768		785,080,314		795,439,309		810,054,148		815,190,210		824,046,952
Treasury shares held		168,310,326		157,546,811		153,421,813		138,812,267		128,453,272		113,838,433		108,702,371		99,845,629

(a) Includes OREO related to government insured loans. Upon the prospective adoption on January 1, 2015 of ASU 2014-14 “Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure,” government guaranteed loans meeting certain criteria were reclassified to other receivables rather than OREO upon foreclosure.

Quarterly Data

	Three Months Ended
	September		June		March		December		September		June		March		December
	2016		2016		2016		2015		2015		2015		2015		2014
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	94,417	$	94,807	$	94,078	$	94,587	$	94,329	$	92,739	$	91,659	$	91,581
Taxable securities		29,772		30,002		29,619		28,951		28,251		27,344		23,102		22,364
Tax exempt securities		76		85		78		52		52		59		59		64
Other short-term investments		1,827		1,953		1,876		2,253		1,799		3,160		5,877		5,176
Total interest-earning assets		126,092		126,847		125,651		125,843		124,431		123,302		120,697		119,185
Cash and due from banks		2,289		2,228		2,335		2,466		2,503		2,636		2,830		3,008
Other assets		15,644		15,140		14,869		14,925		15,064		15,322		15,412		14,764
Allowance for loan and lease losses		(1,299)		(1,295)		(1,273)		(1,261)		(1,292)		(1,300)		(1,322)		(1,413)
Total assets	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960	$	137,617	$	135,544
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	24,475	$	24,714	$	25,740	$	25,296	$	25,590	$	26,894	$	26,885	$	25,478
Savings deposits		14,232		14,576		14,601		14,615		14,868		15,156		15,174		15,173
Money market deposits		19,706		19,243		18,655		18,775		18,253		18,071		17,492		17,023
Foreign office deposits		524		484		483		736		718		955		861		1,439
Other time deposits		4,020		4,044		4,035		4,052		4,057		4,074		4,022		3,936
Certificates - $100,000 and over		2,768		2,819		2,815		3,305		2,924		2,558		2,683		2,998
Other deposits		749		467		—		7		222		—		—		—
Federal funds purchased		446		693		608		1,182		1,978		326		172		161
Other short-term borrowings		2,171		3,754		3,564		1,675		1,897		1,705		1,602		1,481
Long-term debt		16,102		15,351		14,949		15,738		14,664		13,741		14,414		14,819
Total interest-bearing liabilities		85,193		86,145		85,450		85,381		85,171		83,480		83,305		82,508
Demand deposits		35,918		35,912		35,201		36,254		35,231		35,384		33,760		33,301
Other liabilities		4,704		4,247		4,524		4,325		4,458		5,215		4,693		4,052
Total liabilities		125,815		126,304		125,175		125,960		124,860		124,079		121,758		119,861
Equity		16,911		16,616		16,407		16,013		15,846		15,881		15,859		15,683
Total liabilities and equity	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960	$	137,617	$	135,544
Average loans and leases (excluding held for sale)	$	93,511	$	93,931	$	93,275	$	93,594	$	93,373	$	92,173	$	90,508	$	91,041
Share Data
Average common shares outstanding - basic		750,885,834		759,105,385		773,564,178		784,855,006		795,792,825		803,965,057		810,209,585		819,057,247
Average common shares outstanding - diluted		757,455,625		765,080,097		778,392,453		794,481,388		805,022,588		812,842,540		818,672,259		827,831,317

Quarterly Data

	Three Months Ended
	September		June		March		December		September		June		March		December
	2016		2016		2016		2015		2015		2015		2015		2014
End of Period Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	42,829	$	43,575	$	43,441	$	42,151	$	42,970	$	42,812	$	42,062	$	40,801
Commercial mortgage loans		6,860		6,883		6,874		6,991		7,084		7,165		7,210		7,410
Commercial construction loans		3,905		3,706		3,428		3,214		3,101		2,709		2,303		2,071
Commercial leases		3,995		3,978		3,956		3,854		3,901		3,882		3,787		3,721
Total commercial loans and leases		57,589		58,142		57,699		56,210		57,056		56,568		55,362		54,003
Consumer:
Residential mortgage loans		15,597		15,159		14,563		14,424		14,197		13,792		13,258		13,582
Home equity		7,864		7,988		8,131		8,336		8,460		8,591		8,714		8,886
Automobile loans		10,349		10,671		11,129		11,497		11,829		11,914		11,873		12,037
Credit card		2,169		2,172		2,235		2,360		2,330		2,278		2,291		2,401
Other consumer loans and leases		643		654		651		658		696		555		470		436
Total consumer loans and leases		36,622		36,644		36,709		37,275		37,512		37,130		36,606		37,342
Total loans and leases	$	94,211	$	94,786	$	94,408	$	93,485	$	94,568	$	93,698	$	91,968	$	91,345
Average Loans and Leases ($ in millions) (net of unearned discount)
Commercial:
Commercial and industrial loans	$	43,125	$	43,878	$	43,127	$	43,175	$	43,162	$	42,554	$	41,462	$	41,313
Commercial mortgage loans		6,891		6,835		6,908		7,053		7,038		7,149		7,248		7,482
Commercial construction loans		3,848		3,551		3,297		3,141		2,966		2,549		2,198		1,911
Commercial leases		3,963		3,904		3,875		3,841		3,847		3,776		3,716		3,601
Total commercial loans and leases		57,827		58,168		57,207		57,210		57,013		56,028		54,624		54,307
Consumer:
Residential mortgage loans		15,346		14,842		14,405		14,315		13,976		13,375		13,515		13,526
Home equity		7,918		8,059		8,241		8,394		8,521		8,655		8,802		8,937
Automobile loans		10,508		10,887		11,285		11,674		11,881		11,902		11,933		12,073
Credit card		2,165		2,198		2,277		2,320		2,277		2,296		2,321		2,324
Other consumer loans and leases		653		653		663		674		661		483		464		414
Total consumer loans and leases		36,590		36,639		36,871		37,377		37,316		36,711		37,035		37,274
Total average loans and leases	$	94,417	$	94,807	$	94,078	$	94,587	$	94,329	$	92,739	$	91,659	$	91,581
Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases	$	329	$	385	$	419	$	228	$	205	$	217	$	231	$	269
Nonaccrual loans held for sale		91		20		3		1		1		1		2		24
Nonaccrual restructured loans held for sale		9		—		2		11		1		—		—		15
Nonaccrual portfolio restructured loans and leases		257		308		282		278		253		258		296		310
OREO and other repossessed property(a)		97		112		124		141		148		151		164		165
Total nonperforming assets	$	783	$	825	$	830	$	659	$	608	$	627	$	693	$	783
Ninety days past due loans and leases	$	76	$	65	$	73	$	75	$	70	$	70	$	78	$	87
Nonperforming Loans ($ in millions)(nonaccrual plus renegotiated)
Commercial and industrial loans and leases	$	493	$	483	$	465	$	259	$	171	$	182	$	200	$	241
Commercial mortgage loans		52		76		83		93		110		106		126		146
Commercial construction loans		—		—		—		—		6		—		1		2
Residential mortgage loans		32		43		44		51		54		62		70		94
Home equity		78		79		80		79		82		88		90		93
Other consumer loans and leases		31		32		34		36		37		38		41		42
Total nonperforming loans and leases (including held for sale)	$	686	$	713	$	706	$	518	$	460	$	476	$	528	$	618
Credit Charge-Offs ($ in millions)
Total losses charged-off	($	137)	($	105)	($	116)	($	105)	($	209)	($	112)	($	115)	($	215)
Total recoveries of losses previously charged-off		30		18		20		25		21		26		24		24
Total net losses charged-off	($	107)	($	87)	($	96)	($	80)	($	188)	($	86)	($	91)	($	191)

(a) Excludes OREO related to government insured loans. The Bancorp has historically excluded government guaranteed loans classified in OREO from its nonperforming asset disclosures. Upon the prospective adoption on January 1, 2015 of ASU 2014-14 “Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure,” government guaranteed loans meeting certain criteria will be reclassified to other receivables rather than OREO upon foreclosure.