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): April 25, 2017

(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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02 Results of Operations and Financial Condition

On April 25, 2017, Fifth Third Bancorp issued a press release and its quarterly financial supplement announcing its earnings release for the first quarter of 2017. 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 they 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 April 25, 2017, Fifth Third Bancorp issued a press release and its quarterly financial supplement announcing its earnings release for the first quarter of 2017. 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 they 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 they 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 April 25, 2017

Exhibit 99.2 – First Quarter Earnings Conference Presentation

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)
April 25, 2017	/s/ Tayfun Tuzun
	Tayfun Tuzun
	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

CONTACTS:	Sameer Gokhale (Investors)	News Release
	(513) 534-2219
	Larry Magnesen (Media)	FOR IMMEDIATE RELEASE
	(513) 534-8055	April 25, 2017

FIFTH THIRD ANNOUNCES FIRST QUARTER 2017 NET INCOME TO COMMON SHAREHOLDERS OF $290 MILLION, OR $0.38 PER DILUTED SHARE

• 1Q17 net income available to common shareholders of $290 million, or $0.38 per diluted common share

• Results included the following items which had a net neutral impact on reported 1Q17 earnings per share:

• A $13 million pre-tax (~$8 million after-tax)^(a) charge related to the valuation of the Visa total return swap

• A $12 million pre-tax (~$8 million after-tax)^(a) benefit related to the revision to the 4Q16 estimated charge to net interest income for refunds to certain bankcard customers

• Reported net interest income of $933 million; taxable equivalent net interest income of $939 million^(b), up 3% from both 4Q16 and 1Q16; excluding the 4Q16 and 1Q17 card remediation impacts, flat from 4Q16 and up 2% from 1Q16^(b)

• Taxable equivalent net interest margin of 3.02%^(b), up 16 bps from 4Q16 and up 11 bps from 1Q16; adjusted net interest margin, excluding the 4Q16 and 1Q17 card remediation impact, of 2.98%^(b), up 7 bps both from 4Q16 and 1Q16

• Average portfolio loans and leases of $92.1 billion, down 1% from 4Q16 and down 1% from 1Q16

• Noninterest income of $523 million compared with $620 million in 4Q16 and $637 million in 1Q16; sequential decline primarily driven by the $33 million annual payment recognized from Vantiv pursuant to the tax receivable agreement in the prior quarter and other items mentioned on page 9

• Noninterest expense of $986 million, up 3% from 4Q16 and flat from 1Q16; sequential increase primarily driven by seasonally higher compensation-related expenses and $18 million in long-term incentive expense that would have otherwise been recognized in the second quarter without a change in the grant date

• Net charge-offs (NCOs) of $89 million, up $16 million from 4Q16 and down $7 million from 1Q16; NCO ratio of 0.40% compared to 0.31% in 4Q16 and 0.42% in 1Q16

• Portfolio nonperforming asset (NPA) ratio of 0.79% down 1 bp from 4Q16 and down 9 bps from 1Q16

• 1Q17 provision expense of $74 million compared to $54 million in 4Q16 and $119 million in 1Q16

• Common equity Tier 1 (CET1)^(c) ratio of 10.76%; fully phased-in CET1 ratio^(b)(c) of 10.66%

• Tangible common equity ratio of 9.20%^(b); 9.15% excluding unrealized gains/losses^(b)

• Book value per share of $20.13 up 2% from 4Q16 and up 3% from 1Q16; tangible book value per share^(b) of $16.89 up 2% from 4Q16 and up 3% from 1Q16

Fifth Third Bancorp (Nasdaq: FITB) today reported first quarter 2017 net income of $305 million versus net income of $395 million in the fourth quarter of 2016 and $326 million in the first quarter of 2016. After preferred dividends, net income available to common shareholders was $290 million, or $0.38 per diluted share, in the first quarter of 2017, compared with $372 million, or $0.49 per diluted share, in the fourth quarter of 2016, and $311 million, or $0.40 per diluted share, in the first quarter of 2016.

First quarter 2017 included:

Income

• $12 million benefit related to the revision to the 4Q16 estimated charge to net interest income for refunds to certain bankcard customers

• ($13 million) charge related to the valuation of the Visa total return swap

Fourth quarter 2016 included:

Income

• $9 million gain on the Vantiv warrant net exercise and share sale

• $6 million benefit related to the valuation of the Visa total return swap

• ($16 million) reduction to net interest income for estimated refunds to be offered to certain bankcard customers

Expenses

• ($5 million) contribution to Fifth Third Foundation

Results also included a $6 million tax benefit from the early adoption of an accounting standard, and a $33 million annual payment recognized from Vantiv pursuant to the tax receivable agreement, which was recorded in other noninterest income.

First quarter 2016 included:

Income

• $47 million positive valuation adjustment on the remaining Vantiv warrant

• $8 million gain on sale of certain St. Louis branches as part of the previously announced branch consolidation and sales plan

• $1 million benefit related to the valuation of the Visa total return swap

Expenses

• ($15 million) in severance expense, primarily consisting of $14 million related to the voluntary early retirement program

2

Earnings Highlights

	For the Three Months Ended										% Change
	March		December		September		June		March
	2017		2016		2016(d)		2016(d)		2016(d)		Seq		Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	305	$	395	$	516	$	328	$	326		(23%)		(6%)
Net income available to common shareholders	$	290	$	372	$	501	$	305	$	311		(22%)		(7%)
Common Share Data
Earnings per share, basic	$	0.38	$	0.49	$	0.66	$	0.40	$	0.40		(22%)		(5%)
Earnings per share, diluted		0.38		0.49		0.65		0.39		0.40		(22%)		(5%)
Cash dividends per common share		0.14		0.14		0.13		0.13		0.13		—		8%
Common shares outstanding (in thousands)		750,145		750,479		755,582		766,346		770,471		—		(3%)
Average common shares outstanding (in thousands):
Basic		747,668		746,367		750,886		759,105		773,564		—		(3%)
Diluted		760,809		757,704		757,856		764,811		777,758		—		(2%)
Financial Ratios												bps Change
Return on average assets		0.88%		1.11%		1.44%		0.92%		0.93%		(23)		(5)
Return on average common equity		7.8		9.7		12.8		8.0		8.3		(190)		(50)
Return on average tangible common equity(b)		9.3		11.6		15.2		9.6		9.9		(230)		(60)
CET1 capital(c)		10.76		10.39		10.17		9.94		9.81		37		95
Tier I risk-based capital(c)		11.90		11.50		11.27		11.03		10.91		40		99
CET1 capital (fully-phased in)(b)(c)		10.66		10.29		10.09		9.86		9.72		37		94
Net interest margin (taxable equivalent)(b)		3.02		2.86		2.88		2.88		2.91		16		11
Efficiency (taxable equivalent)(b)		67.4		62.8		55.5		65.3		63.8		460		360

“During the first quarter we continued to make progress towards our long term performance goals under North Star,” said Greg D. Carmichael, President and CEO of Fifth Third Bancorp.

“Our net interest margin continued to improve as our balance sheet positioning allowed us to benefit from increased short term market rates. The growth in our net interest income and our focus on expense management are indicative of our ability to achieve positive operating leverage. Credit quality metrics also continue to support a benign credit outlook for the foreseeable future.”

3

Income Statement Highlights

($ in millions, except per-share data)	For the Three Months Ended										% Change
	March		December		September		June		March
	2017		2016		2016(d)		2016(d)		2016(d)		Seq		Yr/Yr
Condensed Statements of Income
Net interest income (taxable equivalent)(b)	$	939	$	909	$	913	$	908	$	909		3%		3%
Provision for loan and lease losses		74		54		80		91		119		37%		(38%)
Total noninterest income		523		620		840		599		637		(16%)		(18%)
Total noninterest expense		986		960		973		983		986		3%		—
Income before income taxes (taxable equivalent)(b)	$	402	$	515	$	700	$	433	$	441		(22%)		(9%)
Taxable equivalent adjustment		6		6		6		6		6		—		—
Applicable income tax expense		91		114		178		103		109		(20%)		(17%)
Net income	$	305	$	395	$	516	$	324	$	326		(23%)		(6%)
Less: Net income attributable to noncontrolling interests		—		—		—		(4)		—		—		—
Net income attributable to Bancorp	$	305	$	395	$	516	$	328	$	326		(23%)		(6%)
Dividends on preferred stock		15		23		15		23		15		(35%)		—
Net income available to common shareholders	$	290	$	372	$	501	$	305	$	311		(22%)		(7%)
Earnings per share, diluted	$	0.38	$	0.49	$	0.65	$	0.39	$	0.40		(22%)		(5%)

4

Net Interest Income

(Taxable equivalent basis; $ in millions)(b)	For the Three Months Ended										% Change
	March		December		September		June		March
	2017		2016		2016		2016		2016		Seq		Yr/Yr
Interest Income
Total interest income	$	1,092	$	1,058	$	1,063	$	1,052	$	1,044		3%		5%
Total interest expense		153		149		150		144		135		3%		13%
Net interest income	$	939	$	909	$	913	$	908	$	909		3%		3%
Average Yield											bps Change
Yield on interest-earning assets		3.51%		3.33%		3.36%		3.34%		3.34%		18		17
Rate paid on interest-bearing liabilities		0.73%		0.70%		0.70%		0.67%		0.64%		3		9
Net interest rate spread		2.78%		2.63%		2.66%		2.67%		2.70%		15		8
Net interest margin		3.02%		2.86%		2.88%		2.88%		2.91%		16		11
Average Balances											% Change
Loans and leases, including held for sale	$	92,791	$	93,981	$	94,417	$	94,807	$	94,078		(1%)		(1%)
Total securities and other short-term investments		33,177		32,567		31,675		32,040		31,573		2%		5%
Total interest-earning assets		125,968		126,548		126,092		126,847		125,651		—		—
Total interest-bearing liabilities		84,890		84,552		85,193		86,145		85,450		—		(1%)
Bancorp shareholders’ equity(d)		16,429		16,545		16,883		16,584		16,376		(1%)		—

Net interest income for the fourth quarter of 2016 included a $16 million estimated charge for refunds to certain bankcard customers. In the first quarter of 2017 with the completion of the analysis, this charge was revised and resulted in a $12 million reversal of the prior charge. Excluding the impact of these items, net interest income was up $2 million from the fourth quarter of 2016, reflecting higher short-term market rates and lower wholesale funding balances, partially offset by declining loan balances and a lower day count. The adjusted net interest margin was 2.98 percent, up 7 bps from the prior quarter’s adjusted net interest margin, primarily driven by higher short-term market rates and a lower day count, partially offset by lower investment yields resulting from lower net discount accretion.

Compared to the first quarter of 2016, adjusted taxable equivalent net interest income was up 2 percent, primarily driven by higher short-term market rates. The adjusted net interest margin was up 7 bps from the first quarter of 2016, driven primarily by higher short-term market rates.

Securities

Average securities and other short-term investments were $33.2 billion in the first quarter of 2017 compared to $32.6 billion in the previous quarter and $31.6 billion in the first quarter of 2016. Average balances of other short-term investments decreased by $502 million sequentially to $1.3 billion.

5

Loans

($ in millions)	For the Three Months Ended										% Change
	March		December		September		June		March
	2017		2016		2016		2016		2016		Seq		Yr/Yr
Average Portfolio Loans and Leases
Commercial:
Commercial and industrial loans	$	41,854	$	42,548	$	43,116	$	43,876	$	43,089		(2%)		(3%)
Commercial mortgage loans		6,941		6,957		6,888		6,831		6,886		—		1%
Commercial construction loans		3,987		3,890		3,848		3,551		3,297		2%		21%
Commercial leases		3,901		3,921		3,962		3,898		3,874		(1%)		1%
Total commercial loans and leases	$	56,683	$	57,316	$	57,814	$	58,156	$	57,146		(1%)		(1%)
Consumer:
Residential mortgage loans	$	15,200	$	14,854	$	14,455	$	14,046	$	13,788		2%		10%
Home equity		7,581		7,779		7,918		8,054		8,217		(3%)		(8%)
Automobile loans		9,786		10,162		10,508		10,887		11,283		(4%)		(13%)
Credit card		2,141		2,180		2,165		2,134		2,179		(2%)		(2%)
Other consumer loans and leases		755		673		651		654		662		12%		14%
Total consumer loans and leases	$	35,463	$	35,648	$	35,697	$	35,775	$	36,129		(1%)		(2%)
Total average portfolio loans and leases	$	92,146	$	92,964	$	93,511	$	93,931	$	93,275		(1%)		(1%)
Average loans held for sale	$	645	$	1,017	$	906	$	876	$	803		(37%)		(20%)

Average portfolio loan and lease balances decreased $818 million, or 1 percent, sequentially and decreased $1.1 billion, or 1 percent, from the first quarter of 2016. The sequential and year-over-year decrease was primarily driven by declines in automobile and commercial and industrial (C&I) loans. The decline in auto loans continues to reflect our 2016 decision to reduce lower-return auto loan originations to improve returns on shareholders’ equity. The decline in C&I loans was partially due to deliberate exits from certain C&I loans that did not meet risk-adjusted profitability targets, as well as softer loan demand. Period end portfolio loans and leases of $91.6 billion decreased $470 million, or 1 percent, sequentially and $2.0 billion, or 2 percent, from a year ago. On both a sequential and year-over-year basis, the average and period end loan decrease was primarily due to declines in C&I and automobile loans, partially offset by increases in residential mortgage and commercial construction loans.

Average commercial portfolio loan and lease balances decreased $633 million, or 1 percent, sequentially, and were down $463 million, or 1 percent, from the first quarter of 2016. Average C&I loans decreased $694 million, or 2 percent, from the prior quarter and decreased $1.2 billion, or 3 percent, from the first quarter of 2016. Average commercial real estate loans increased $81 million, or 1 percent, from the prior quarter and increased $745 million, or 7 percent, from the first quarter of 2016. Within commercial real estate, average commercial mortgage balances decreased $16 million and average commercial construction balances increased $97 million sequentially. Period end commercial line utilization of 34% was flat from the fourth quarter of 2016 and decreased 1 percent from the first quarter of 2016.

Average consumer portfolio loan and lease balances were down $185 million, or 1 percent, sequentially and decreased $666 million, or 2 percent, from the first quarter of 2016. This was primarily driven by average automobile loans which decreased 4 percent sequentially and 13 percent from a year ago. Average residential mortgage loans increased 2 percent sequentially and 10 percent from the previous year. Average home equity loans decreased 3 percent sequentially and 8 percent from the first quarter of 2016. Average credit card loans decreased 2 percent sequentially and decreased 2 percent from the first quarter of 2016.

6

Deposits

($ in millions)	For the Three Months Ended										% Change
	March		December		September		June		March
	2017		2016		2016		2016		2016		Seq		Yr/Yr
Average Deposits
Demand	$	35,084	$	36,412	$	35,918	$	35,912	$	35,201		(4%)		—
Interest checking		26,760		25,644		24,475		24,714		25,740		4%		4%
Savings		14,117		13,979		14,232		14,576		14,601		1%		(3%)
Money market		20,603		20,476		19,706		19,243		18,655		1%		10%
Foreign office(e)		454		497		524		484		483		(9%)		(6%)
Total transaction deposits	$	97,018	$	97,008	$	94,855	$	94,929	$	94,680		—		2%
Other time		3,827		3,941		4,020		4,044		4,035		(3%)		(5%)
Total core deposits	$	100,845	$	100,949	$	98,875	$	98,973	$	98,715		—		2%
Certificates - $100,000 and over		2,579		2,539		2,768		2,819		2,815		2%		(8%)
Other		162		115		749		467		—		41%		NM
Total average deposits	$	103,586	$	103,603	$	102,392	$	102,259	$	101,530		—		2%

Average core deposits were flat sequentially and increased $2.1 billion, or 2 percent, from the first quarter of 2016. Average transaction deposits were also flat sequentially and increased $2.3 billion, or 2 percent, from the first quarter of 2016. Sequential performance was primarily driven by increases in commercial and consumer interest checking account balances, offset by lower commercial demand deposit account balances. The year-over-year increase was primarily driven by higher consumer money market and interest checking account balances, partially offset by lower savings account balances. Other time deposits decreased by 3 percent sequentially and 5 percent year-over-year.

Average total commercial transaction deposits of $44 billion decreased 3 percent sequentially and decreased 1 percent from the first quarter of 2016. Average total consumer transaction deposits of $53 billion increased 2 percent sequentially and increased 5 percent from the first quarter of 2016.

7

Wholesale Funding

($ in millions)	For the Three Months Ended										% Change
	March 2017		December 2016		September 2016		June 2016		March 2016		Seq		Yr/Yr
Average Wholesale Funding
Certificates - $100,000 and over	$	2,579	$	2,539	$	2,768	$	2,819	$	2,815		2%		(8%)
Other deposits		162		115		749		467		—		41%		NM
Federal funds purchased		639		280		446		693		608		NM		5%
Other short-term borrowings		1,893		1,908		2,171		3,754		3,564		(1%)		(47%)
Long-term debt		13,856		15,173		16,102		15,351		14,949		(9%)		(7%)
Total average wholesale funding	$	19,129	$	20,015	$	22,236	$	23,084	$	21,936		(4%)		(13%)

Average wholesale funding of $19.1 billion decreased $886 million, or 4 percent, sequentially and decreased $2.8 billion, or 13 percent, compared with the first quarter of 2016. The sequential decrease in average wholesale funding was primarily driven by a decline in long-term debt reflecting the full quarter impact of debt maturing in the previous quarter as well as debt maturing at the beginning of the current quarter. The year-over-year decline in wholesale funding was primarily driven by lower short-term borrowings and debt maturities in response to declining asset balances.

Noninterest Income

($ in millions)	For the Three Months Ended										% Change
	March 2017		December 2016		September 2016		June 2016		March 2016		Seq		Yr/Yr
Noninterest Income
Service charges on deposits	$	138	$	141	$	143	$	138	$	137		(2%)		1%
Corporate banking revenue		74		101		111		117		102		(27%)		(27%)
Mortgage banking net revenue		52		65		66		75		78		(20%)		(33%)
Wealth and asset management revenue		108		100		101		101		102		8%		6%
Card and processing revenue		74		79		79		82		79		(6%)		(6%)
Other noninterest income		77		137		336		80		136		(44%)		(43%)
Securities gains (losses), net		—		(3)		4		6		3		NM		NM
Total noninterest income	$	523	$	620	$	840	$	599	$	637		(16%)		(18%)

Noninterest income of $523 million decreased $97 million sequentially and decreased $114 million compared with prior year results. The sequential and year-over-year comparisons reflect the impacts described below.

8

Noninterest Income excluding certain items

($ in millions)	For the Three Months Ended						% Change
	March 2017		December 2016		March 2016		Seq		Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$	523	$	620	$	637
Valuation of Visa total return swap		13		(6)		(1)
Gain on Vantiv warrant actions		—		(9)		—
Gain on sale of certain branches		—		—		(8)
Vantiv warrant valuation		—		—		(47)
Securities (gains) / losses		—		3		(3)
Noninterest income excluding certain items(b)	$	536	$	608	$	578		(12%)		(7%)

Excluding the items in the table above, noninterest income of $536 million decreased $72 million, or 12 percent, from the previous quarter and decreased $42 million, or 7 percent, from the first quarter of 2016. The sequential decrease was primarily due to the $33 million annual payment recognized from Vantiv pursuant to the tax receivable agreement in the fourth quarter of 2016, and decreases in corporate banking revenue and mortgage banking net revenue, partially offset by an increase in wealth and asset management revenue. The year-over-year decrease was driven by declines in corporate banking revenue and mortgage banking net revenue.

Service charges on deposits of $138 million decreased 2 percent from the fourth quarter of 2016, and increased 1 percent compared with the first quarter of 2016. The sequential decrease was primarily driven by a seasonal decrease in retail service charges. The increase from the first quarter of 2016 was primarily due to both increases in commercial and retail service charges.

Corporate banking revenue of $74 million decreased 27 percent both sequentially and from the first quarter of 2016. The sequential and year-over-year decreases were primarily driven by a $31 million lease remarketing impairment related to an oilfield services exposure. Excluding the impact of the lease impairment, corporate banking revenue increased 4 percent compared to the fourth quarter of 2016 and increased 3 percent from the first quarter of 2016. The sequential and year-over-year performance was driven by increases in institutional sales and syndication fees, partially offset by a decrease in foreign exchange fees.

9

Mortgage banking net revenue was $52 million in the first quarter of 2017, down $13 million from the fourth quarter of 2016 and down $26 million from the first quarter of 2016. Originations of $1.9 billion in the current quarter decreased 29 percent sequentially and increased 10 percent from the first quarter of 2016. First quarter 2017 originations resulted in $29 million of origination fees and gains on loan sales, compared with $30 million during the previous quarter and $42 million during the first quarter of 2016. Effective January 1, 2017, the Bancorp elected to measure its MSR portfolio at fair value rather than at amortized cost. Net mortgage servicing revenue (which consists of gross mortgage servicing fees, MSR decay/amortization, net valuation adjustments on MSRs and mark-to-market adjustments on free-standing derivatives used to economically hedge the MSR portfolio) was $23 million this quarter, $35 million in the fourth quarter of 2016, and $36 million in the first quarter of 2016. Gross mortgage servicing fees were $47 million this quarter, $48 million in the fourth quarter of 2016, and $52 million in the first quarter of 2016. MSR decay/amortization was $27 million this quarter, $35 million in the fourth quarter of 2016, and $27 million in the first quarter of 2016. Net servicing asset valuation adjustments resulted in a positive $3 million impact in the first quarter of 2017, positive $23 million in the fourth quarter of 2016, and positive $11 million in the first quarter of 2016.

Wealth and asset management revenue of $108 million increased 8 percent from the fourth quarter of 2016 and increased 6 percent from the first quarter of 2016. The sequential increase was primarily driven by strong brokerage revenue and seasonally strong tax-related private client service revenue. The year-over-year increase was primarily driven by higher personal asset management and brokerage revenue.

Card and processing revenue of $74 million in the first quarter of 2017 decreased 6 percent both sequentially and from the first quarter of 2016. The sequential decrease reflected lower transaction volumes compared with seasonally strong fourth quarter volumes, while the year-over-year decrease was impacted by higher reward expense and the sale of the agent bankcard portfolio in the second quarter of last year.

Other noninterest income totaled $77 million in the first quarter of 2017, compared with $137 million in the previous quarter and $136 million in the first quarter of 2016. The reported results included the valuation of the Visa total return swap, the gain on sale of certain branches and Vantiv-related adjustments shown in the table on page 9. For the first quarter of 2017, excluding these items, other noninterest income of $90 million decreased approximately $32 million, or 26 percent, from the fourth quarter of 2016 and was up 13 percent from the first quarter of 2016. The sequential decrease was primarily due to the $33 million annual payment recognized from Vantiv pursuant to the tax receivable agreement in the fourth quarter of 2016.

Net gains on investment securities were immaterial in the first quarter of 2017, compared with a $3 million net loss in the previous quarter and a $3 million net gain in the first quarter of 2016.

10

Noninterest Expense

($ in millions)	For the Three Months Ended										% Change
	March 2017		December 2016		September 2016		June 2016		March 2016		Seq		Yr/Yr
Noninterest Expense
Salaries, wages and incentives	$	411	$	403	$	400	$	407	$	403		2%		2%
Employee benefits		111		76		78		85		100		46%		11%
Net occupancy expense		78		73		73		75		77		7%		1%
Technology and communications		58		56		62		60		56		4%		4%
Equipment expense		28		29		29		30		30		(3%)		(7%)
Card and processing expense		30		31		30		37		35		(3%)		(14%)
Other noninterest expense		270		292		301		289		285		(8%)		(5%)
Total noninterest expense	$	986	$	960	$	973	$	983	$	986		3%		—

Noninterest expense of $986 million increased $26 million, or 3 percent, compared with the fourth quarter of 2016 and was flat compared with the first quarter of 2016. The sequential increase primarily reflected seasonally higher compensation-related expenses driven by FICA and other employee benefits expense as well as long-term incentive expense, partially offset by declines in loan and lease expense, losses and adjustments, and other noninterest expense. The year-over-year performance was impacted by lower losses and adjustments, other noninterest expense, and lower card and processing expense, predominantly due to contract renegotiations, partially offset by the impact of $18 million in long-term incentive expense that would have otherwise been recognized in the second quarter without a change in the grant date.

Credit Quality

($ in millions)	For the Three Months Ended
	March 2017		December 2016		September 2016		June 2016		March 2016
Total net losses charged-off
Commercial and industrial loans	($	36)	($	25)	($	61)	($	39)	($	46)
Commercial mortgage loans		(5)		(2)		(2)		(6)		(6)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		(1)		—		(1)		(2)
Residential mortgage loans		(5)		(2)		(2)		(2)		(2)
Home equity		(6)		(6)		(7)		(6)		(8)
Automobile loans		(11)		(11)		(9)		(8)		(9)
Credit card		(22)		(19)		(20)		(21)		(20)
Other consumer loans and leases		(3)		(7)		(6)		(4)		(3)
Total net losses charged-off	($	89)	($	73)	($	107)	($	87)	($	96)
Total losses charged-off	($	107)	($	97)	($	137)	($	105)	($	116)
Total recoveries of losses previously charged-off		18		24		30		18		20
Total net losses charged-off	($	89)	($	73)	($	107)	($	87)	($	96)
Ratios (annualized)
Net losses charged-off as a percent of average portfolio loans and leases (excluding held for sale)		0.40%		0.31%		0.45%		0.37%		0.42%
Commercial		0.29%		0.20%		0.43%		0.32%		0.38%
Consumer		0.56%		0.49%		0.49%		0.45%		0.48%

11

Net charge-offs were $89 million, or 40 bps of average portfolio loans and leases on an annualized basis, in the first quarter of 2017 compared with net charge-offs of $73 million, or 31 bps, in the fourth quarter of 2016 and $96 million, or 42 bps, in the first quarter of 2016.

Commercial net charge-offs of $42 million, or 29 bps, were up $14 million sequentially. The increase was primarily due to higher charge-offs of C&I loans, which increased by $11 million from the fourth quarter of 2016. Commercial real estate net charge-offs were up $3 million from the previous quarter.

Consumer net charge-offs of $47 million, or 56 bps, were up $2 million sequentially. Compared with the previous quarter, net charge-offs on residential mortgage loans were up $3 million. Net charge-offs on the home equity and auto portfolios were flat from the previous quarter. Net charge-offs on credit card loans were up $3 million from the fourth quarter of 2016. Net charge-offs on other consumer loans of $3 million were down $4 million sequentially.

($ in millions)	For the Three Months Ended
	March		December		September		June		March
	2017		2016		2016		2016		2016
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,253	$	1,272	$	1,299	$	1,295	$	1,272
Total net losses charged-off		(89)		(73)		(107)		(87)		(96)
Provision for loan and lease losses		74		54		80		91		119
Allowance for loan and lease losses, ending	$	1,238	$	1,253	$	1,272	$	1,299	$	1,295
Reserve for unfunded commitments, beginning	$	161	$	162	$	151	$	144	$	138
Provision for unfunded commitments		(2)		(1)		11		7		6
Reserve for unfunded commitments, ending	$	159	$	161	$	162	$	151	$	144
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,238	$	1,253	$	1,272	$	1,299	$	1,295
Reserve for unfunded commitments		159		161		162		151		144
Total allowance for credit losses	$	1,397	$	1,414	$	1,434	$	1,450	$	1,439
Allowance for loan and lease losses ratio
As a percent of portfolio loans and leases		1.35%		1.36%		1.37%		1.38%		1.38%
As a percent of nonperforming loans and leases(f)		188%		190%		212%		188%		185%
As a percent of nonperforming assets(f)		172%		170%		182%		161%		157%

Provision for loan and lease losses totaled $74 million in the first quarter of 2017. The allowance represented 1.35 percent of total portfolio loans and leases outstanding as of quarter end, compared with 1.36 percent last quarter, and represented 188 percent of nonperforming loans and leases, and 172 percent of nonperforming assets.

Provision for loan and lease losses increased $20 million from the fourth quarter of 2016, primarily driven by an increase in net charge-offs, and decreased $45 million from the first quarter of 2016, impacted by improving criticized assets and nonperforming loans. The allowance for loan and lease losses decreased $15 million sequentially. As of March 31, the reserve allocated to the energy portfolio was approximately 4.20%, up from approximately 4.04% last quarter.

12

($ in millions)	As of
	March 2017		December 2016		September 2016		June 2016		March 2016
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	251	$	302	$	235	$	254	$	278
Commercial mortgage loans		21		27		31		39		51
Commercial construction loans		—		—		—		—		—
Commercial leases		—		2		—		4		4
Residential mortgage loans		21		17		19		27		25
Home equity		53		55		59		61		61
Total nonaccrual portfolio loans and leases (excludes restructured loans)	$	346	$	403	$	344	$	385	$	419
Nonaccrual restructured portfolio commercial loans and leases(g)		251		192		194		242		210
Nonaccrual restructured portfolio consumer loans and leases		60		65		63		66		72
Total nonaccrual portfolio loans and leases	$	657	$	660	$	601	$	693	$	701
Repossessed property		14		15		13		15		17
OREO		50		63		84		97		107
Total nonperforming portfolio assets(f)	$	721	$	738	$	698	$	805	$	825
Nonaccrual loans held for sale		7		4		91		20		3
Nonaccrual restructured loans held for sale		2		9		9		—		2
Total nonperforming assets	$	730	$	751	$	798	$	825	$	830
Restructured Portfolio consumer loans and leases (accrual)	$	950	$	959	$	972	$	982	$	998
Restructured Portfolio commercial loans and leases (accrual)(g)	$	277	$	321	$	408	$	431	$	461
Total loans and leases 30-89 days past due (accrual)	$	180	$	231	$	205	$	196	$	208
Total loans and leases 90 days past due (accrual)	$	75	$	84	$	76	$	65	$	73
Nonperforming portfolio loans and leases as a percent of portfolio loans, leases and other assets, including OREO(f)		0.72%		0.72%		0.64%		0.74%		0.75%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(f)		0.79%		0.80%		0.75%		0.86%		0.88%

Total nonperforming portfolio assets decreased $17 million, or 2 percent, from the previous quarter to $721 million. Portfolio nonperforming loans (NPLs) at quarter-end decreased $3 million from the previous quarter to $657 million, or 0.72 percent of total portfolio loans, leases and OREO.

Commercial portfolio NPLs were flat from last quarter at $523 million, or 0.93 percent of commercial portfolio loans, leases and OREO. Consumer portfolio NPLs decreased $3 million from last quarter to $134 million, or 0.38 percent of consumer portfolio loans, leases and OREO.

OREO balances were down $13 million from the prior quarter to $50 million, and included $29 million in commercial OREO and $21 million in consumer OREO. Repossessed personal property decreased $1 million from the prior quarter to $14 million.

Loans over 90 days past due and still accruing decreased $9 million from the fourth quarter of 2016 to $75 million. Loans 30-89 days past due of $180 million were down $51 million from the previous quarter.

13

Capital and Liquidity Position

	For the Three Months Ended
	March 2017		December 2016		September 2016		June 2016		March 2016
Capital Position
Average total Bancorp shareholders’ equity to average assets		11.72%		11.66%		11.83%		11.60%		11.57%
Tangible equity(b)		10.12%		9.82%		9.73%		9.59%		9.51%
Tangible common equity (excluding unrealized gains/losses)(b)		9.15%		8.87%		8.78%		8.64%		8.55%
Tangible common equity (including unrealized gains/losses)(b)		9.20%		8.91%		9.24%		9.18%		8.97%
Regulatory capital ratios:
CET1 capital(c)		10.76%		10.39%		10.17%		9.94%		9.81%
Tier I risk-based capital(c)		11.90%		11.50%		11.27%		11.03%		10.91%
Total risk-based capital(c)		15.45%		15.02%		14.88%		14.66%		14.66%
Tier I leverage		10.15%		9.90%		9.80%		9.64%		9.57%
CET1 capital (fully phased-in)(b)(c)		10.66%		10.29%		10.09%		9.86%		9.72%
Book value per share	$	20.13	$	19.82	$	20.44	$	20.09	$	19.46
Tangible book value per share(b)	$	16.89	$	16.60	$	17.22	$	16.93	$	16.32
Modified liquidity coverage ratio (LCR)(h)		119%		128%		115%		110%		118%

Capital ratios remained strong and grew during the quarter. The CET1 ratio was 10.76 percent, the tangible common equity to tangible assets ratio^(b) was 9.15 percent (excluding unrealized gains/losses), and 9.20 percent (including unrealized gains/losses). The Tier I risk-based capital ratio was 11.90 percent, the Total risk-based capital ratio was 15.45 percent, and the Tier I leverage ratio was 10.15 percent.

Book value per share at March 31, 2017 was $20.13 and tangible book value per share^(b) was $16.89, compared with the December 31, 2016 book value per share of $19.82 and tangible book value per share^(b) of $16.60.

On February 6, 2017, Fifth Third settled the forward contract related to the $155 million share repurchase agreement initially settled on December 20, 2016. An additional 1.1 million shares were repurchased in connection with the completion of this agreement.

Tax Rate

The effective tax rate was 22.9 percent in the first quarter of 2017 compared with 22.6 percent in the fourth quarter of 2016 and 25.1 percent in the first quarter of 2016. The tax rate in the first quarter of 2017 was impacted by an $8 million tax benefit associated with the exercise and vesting of employee equity awards. The tax rate in the fourth quarter of 2016 was impacted by a $6 million tax benefit associated with the early adoption of ASU 2016-09, “Improvements to Employee Share-Based Payment Accounting”, using the modified retrospective transition method.

Other

Fifth Third Bank owns approximately 35 million units representing a 17.8 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm. Based upon Vantiv’s closing price of $64.12 on March 31, 2017, our interest in Vantiv was valued at approximately $2.2 billion. Next month in our 10-Q, we will update our disclosure of the carrying value of our interest in Vantiv stock, which was $414 million as of December 31, 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.

14

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 and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”).

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 after the conference call until approximately May 9, 2017 by dialing 800-585-8367 for domestic access or 404-537-3406 for international access (passcode 44811759#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of March 31, 2017, the Company had $140 billion in assets and operates 1,155 full-service Banking Centers, and 2,471 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 a 17.8% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2017, had $323 billion in assets under care, of which it managed $33 billion for individuals, corporations and not-for-profit organizations through its Trust, Brokerage and Insurance businesses. 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.”

Earnings Release End Notes

(a) Assumes a 35% tax rate.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 31.

(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.

(d) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

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

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

(g) As of March 31, 2017 and December 31, 2016, excludes $7 million of restructured accruing loans and $19 million of restructured nonaccrual loans associated with a consolidated VIE in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party. As of September 30, 2016, June 30, 2016 and March 31, 2016 , excludes $7 million of restructured accruing loans and $20 million of restructured nonaccrual loans associated with a consolidated VIE in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party.

(h) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016. (Current period LCR is estimated)

15

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 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) changes in customer preferences or information technology systems; (12) effects of critical accounting policies and judgments; (13) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (14) 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; (15) ability to maintain favorable ratings from rating agencies; (16) failure of models or risk management systems or controls; (17) fluctuation of Fifth Third’s stock price; (18) ability to attract and retain key personnel; (19) ability to receive dividends from its subsidiaries; (20) potentially dilutive effect of future acquisitions on current shareholders’ ownership of Fifth Third; (21) declines in the value of Fifth Third’s goodwill or other intangible assets; (22) effects of accounting or financial results of one or more acquired entities; (23) difficulties from Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv Holding, LLC; (24) loss of income from any sale or potential sale of businesses (25) difficulties in separating the operations of any branches or other assets divested; (26) losses or adverse impacts on the carrying values of branches and long-lived assets in connection with their sales or anticipated sales; (27) inability to achieve expected benefits from branch consolidations and planned sales within desired timeframes, if at all; (28) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; and (29) 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 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.

# # #

16

Quarterly Financial Review for March 31, 2017

Table of Contents

Financial Highlights	18-19
Consolidated Statements of Income	20
Consolidated Statements of Income (Taxable Equivalent)	21
Consolidated Balance Sheets	22-23
Consolidated Statements of Changes in Equity	24
Average Balance Sheet and Yield Analysis	25-26
Summary of Loans and Leases	27
Regulatory Capital	28
Summary of Credit Loss Experience	29
Asset Quality	30
Regulation G Non-GAAP Reconciliation	31-32
Segment Presentation	33

17

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended						% / bps Change
	March 2017		December 2016		March 2016(m)		Seq		Yr/Yr
Income Statement Data
Taxable equivalent net interest income(a)(d)	$	939	$	909	$	909		3%		3%
Noninterest income		523		620		637		(16%)		(18%)
Taxable equivalent total revenue(a)		1,462		1,529		1,546		(4%)		(5%)
Provision for loan and lease losses		74		54		119		37%		(38%)
Noninterest expense		986		960		986		3%		—
Net income attributable to Bancorp		305		395		326		(23%)		(6%)
Net income available to common shareholders		290		372		311		(22%)		(7%)
Earnings Per Share Data
Net income allocated to common shareholders		286		368		308		(22%)		(7%)
Average common shares outstanding (in thousands):
Basic		747,668		746,367		773,564		—		(3%)
Diluted		760,809		757,704		777,758		—		(2%)
Earnings per share, basic	$	0.38	$	0.49	$	0.40		(22%)		(5%)
Earnings per share, diluted		0.38		0.49		0.40		(22%)		(5%)
Common Share Data
Cash dividends per common share		0.14		0.14		0.13		—		8%
Book value per share		20.13		19.82		19.46		2%		3%
Market price per share		25.40		26.97		16.69		(6%)		52%
Common shares outstanding (in thousands)		750,145		750,479		770,471		—		(3%)
Market capitalization	$	19,054	$	20,240	$	12,859		(6%)		48%
Financial Ratios
Return on average assets		0.88%		1.11%		0.93%		(23)		(5)
Return on average common equity		7.8%		9.7%		8.3%		(190)		(50)
Return on average tangible common equity(b)(d)		9.3%		11.6%		9.9%		(230)		(60)
Noninterest income as a percent of total revenue		36%		41%		41%		(500)		(500)
Dividend payout ratio		36.8%		28.6%		32.5%		820		430
Average total Bancorp shareholders’ equity as a percent of average assets		11.72%		11.66%		11.57%		6		15
Tangible common equity(c)(d)		9.15%		8.87%		8.55%		28		60
Taxable equivalent net interest margin(a)(d)		3.02%		2.86%		2.91%		16		11
Taxable equivalent efficiency ratio(a)(d)		67.4%		62.8%		63.8%		460		360
Effective tax rate		22.9%		22.6%		25.1%		30		(220)
Credit Quality
Net losses charged-off	$	89	$	73	$	96		22%		(7%)
Net losses charged-off as a percent of average portfolio loans and leases		0.40%		0.31%		0.42%		9		(2)
ALLL as a percent of portfolio loans and leases		1.35%		1.36%		1.38%		(1)		(3)
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.52%		1.54%		1.54%		(2)		(2)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.79%		0.80%		0.88%		(1)		(9)
Average Balances
Loans and leases, including held for sale	$	92,791	$	93,981	$	94,078		(1%)		(1%)
Total securities and other short-term investments		33,177		32,567		31,573		2%		5%
Total assets		140,140		141,837		141,582		(1%)		(1%)
Transaction deposits(f)		97,018		97,008		94,680		—		2%
Core deposits(g)		100,845		100,949		98,715		—		2%
Wholesale funding(h)		19,129		20,015		21,936		(4%)		(13%)
Bancorp shareholders’ equity		16,429		16,545		16,376		(1%)		—
Capital and Liquidity Ratios(i)
CET1 capital(j)		10.76%		10.39%		9.81%		37		95
Tier I risk-based capital(j)		11.90%		11.50%		10.91%		40		99
Total risk-based capital(j)		15.45%		15.02%		14.66%		43		79
Tier I leverage		10.15%		9.90%		9.57%		25		58
CET1 capital (fully phased-in)(j)(d)		10.66%		10.29%		9.72%		37		94
Modified liquidity coverage ratio (LCR)(l)		119%		128%		118%		(7%)		1%
Operations
Banking centers		1,155		1,191		1,241		(3%)		(7%)
ATMs		2,471		2,495		2,556		(1%)		(3%)
Full-time equivalent employees		17,763		17,844		18,200		—		(2%)

(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 31.

(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.

(m) A net tax deficiency of $1 million was reclassified from capital surplus to applicable income tax expense at March 31, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

18

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	March 2017		December 2016		September 2016(m)		June 2016(m)		March 2016(m)
Income Statement Data
Taxable equivalent net interest income(a)(d)	$	939	$	909	$	913	$	908	$	909
Noninterest income		523		620		840		599		637
Taxable equivalent total revenue(a)		1,462		1,529		1,753		1,507		1,546
Provision for loan and lease losses		74		54		80		91		119
Noninterest expense		986		960		973		983		986
Net income attributable to Bancorp		305		395		516		328		326
Net income available to common shareholders		290		372		501		305		311
Earnings Per Share Data
Net income allocated to common shareholders	$	286	$	368	$	496	$	302	$	308
Average common shares outstanding (in thousands):
Basic		747,668		746,367		750,886		759,105		773,564
Diluted		760,809		757,704		757,856		764,811		777,758
Earnings per share, basic		0.38		0.49		0.66		0.40		0.40
Earnings per share, diluted		0.38		0.49		0.65		0.39		0.40
Common Share Data
Cash dividends per common share	$	0.14	$	0.14	$	0.13	$	0.13	$	0.13
Book value per share		20.13		19.82		20.44		20.09		19.46
Market price per share		25.40		26.97		20.46		17.59		16.69
Common shares outstanding (in thousands)		750,145		750,479		755,582		766,346		770,471
Market capitalization	$	19,054	$	20,240	$	15,459	$	13,480	$	12,859
Financial Ratios
Return on average assets		0.88%		1.11%		1.44%		0.92%		0.93%
Return on average common equity		7.8%		9.7%		12.8%		8.0%		8.3%
Return on average tangible common equity(b)(d)		9.3%		11.6%		15.2%		9.6%		9.9%
Noninterest income as a percent of total revenue		36%		41%		48%		40%		41%
Dividend payout ratio		36.8%		28.6%		19.7%		32.5%		32.5%
Average total Bancorp shareholders’ equity as a percent of average assets		11.72%		11.66%		11.83%		11.60%		11.57%
Tangible common equity(c)(d)		9.15%		8.87%		8.78%		8.64%		8.55%
Taxable equivalent net interest margin(a)(d)		3.02%		2.86%		2.88%		2.88%		2.91%
Taxable equivalent efficiency ratio(a)(d)		67.4%		62.8%		55.5%		65.3%		63.8%
Effective tax rate		22.9%		22.6%		25.6%		23.9%		25.1%
Credit Quality
Net losses charged-off	$	89	$	73	$	107	$	87	$	96
Net losses charged-off as a percent of average portfolio loans and leases		0.40%		0.31%		0.45%		0.37%		0.42%
ALLL as a percent of portfolio loans and leases		1.35%		1.36%		1.37%		1.38%		1.38%
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.52%		1.54%		1.54%		1.54%		1.54%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.79%		0.80%		0.75%		0.86%		0.88%
Average Balances
Loans and leases, including held for sale	$	92,791	$	93,981	$	94,417	$	94,807	$	94,078
Total securities and other short-term investments		33,177		32,567		31,675		32,040		31,573
Total assets		140,140		141,837		142,726		142,920		141,582
Transaction deposits(f)		97,018		97,008		94,855		94,929		94,680
Core deposits(g)		100,845		100,949		98,875		98,973		98,715
Wholesale funding(h)		19,129		20,015		22,236		23,084		21,936
Bancorp shareholders’ equity		16,429		16,545		16,883		16,584		16,376
Capital and Liquidity Ratios(i)
CET1 capital(j)		10.76%		10.39%		10.17%		9.94%		9.81%
Tier I risk-based capital(j)		11.90%		11.50%		11.27%		11.03%		10.91%
Total risk-based capital(j)		15.45%		15.02%		14.88%		14.66%		14.66%
Tier I leverage		10.15%		9.90%		9.80%		9.64%		9.57%
CET1 capital (fully phased-in)(j)(d)		10.66%		10.29%		10.09%		9.86%		9.72%
Modified liquidity coverage ratio (LCR)(l)		119%		128%		115%		110%		118%
Operations
Banking centers		1,155		1,191		1,191		1,191		1,241
ATMs		2,471		2,495		2,497		2,514		2,556
Full-time equivalent employees		17,763		17,844		18,072		18,051		18,200

(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 31.

(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.

(m) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

19

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended						% Change
	March 2017		December 2016		March 2016(a)		Seq		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	839	$	805	$	804		4%		4%
Interest on securities		245		245		232		—		6%
Interest on other short-term investments		2		2		2		—		—
Total interest income		1,086		1,052		1,038		3%		5%
Interest Expense
Interest on deposits		59		54		49		9%		20%
Interest on federal funds purchased		1		—		1		NM		—
Interest on other short-term borrowings		3		2		3		50%		—
Interest on long-term debt		90		93		82		(3%)		10%
Total interest expense		153		149		135		3%		13%
Net Interest Income		933		903		903		3%		3%
Provision for loan and lease losses		74		54		119		37%		(38%)
Net Interest Income After Provision for Loan and Lease Losses		859		849		784		1%		10%
Noninterest Income
Service charges on deposits		138		141		137		(2%)		1%
Corporate banking revenue		74		101		102		(27%)		(27%)
Mortgage banking net revenue		52		65		78		(20%)		(33%)
Wealth and asset management revenue		108		100		102		8%		6%
Card and processing revenue		74		79		79		(6%)		(6%)
Other noninterest income		77		137		136		(44%)		(43%)
Securities gains, net		—		(3)		3		NM		NM
Total noninterest income		523		620		637		(16%)		(18%)
Noninterest Expense
Salaries, wages and incentives		411		403		403		2%		2%
Employee benefits		111		76		100		46%		11%
Net occupancy expense		78		73		77		7%		1%
Technology and communications		58		56		56		4%		4%
Equipment expense		28		29		30		(3%)		(7%)
Card and processing expense		30		31		35		(3%)		(14%)
Other noninterest expense		270		292		285		(8%)		(5%)
Total noninterest expense		986		960		986		3%		—
Income Before Income Taxes		396		509		435		(22%)		(9%)
Applicable income tax expense		91		114		109		(20%)		(17%)
Net Income		305		395		326		(23%)		(6%)
Less: Net income attributable to noncontrolling interests		—		—		—		—		—
Net Income Attributable to Bancorp		305		395		326		(23%)		(6%)
Dividends on preferred stock		15		23		15		(35%)		—
Net Income Available to Common Shareholders	$	290	$	372	$	311		(22%)		(7%)

(a) A net tax deficiency of $1 million was reclassified from capital surplus to applicable income tax expense at March 31, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	March 2017		December 2016		September 2016(b)		June 2016(b)		March 2016(b)
Interest Income
Interest and fees on loans and leases	$	839	$	805	$	816	$	808	$	804
Interest on securities		245		245		239		236		232
Interest on other short-term investments		2		2		2		2		2
Total interest income		1,086		1,052		1,057		1,046		1,038
Taxable equivalent adjustment		6		6		6		6		6
Total taxable equivalent interest income(a)		1,092		1,058		1,063		1,052		1,044
Interest Expense
Interest on deposits		59		54		51		50		49
Interest on federal funds purchased		1		—		—		1		1
Interest on other short-term borrowings		3		2		2		3		3
Interest on long-term debt		90		93		97		90		82
Total interest expense		153		149		150		144		135
Taxable Equivalent Net Interest Income(a)		939		909		913		908		909
Provision for loan and lease losses		74		54		80		91		119
Taxable Equivalent Net Interest Income After Provision for Loan and Lease Losses(a)		865		855		833		817		790
Noninterest Income
Service charges on deposits		138		141		143		138		137
Corporate banking revenue		74		101		111		117		102
Mortgage banking net revenue		52		65		66		75		78
Wealth and asset management revenue		108		100		101		101		102
Card and processing revenue		74		79		79		82		79
Other noninterest income		77		137		336		80		136
Securities gains, net		—		(3)		4		6		3
Total noninterest income		523		620		840		599		637
Noninterest Expense
Salaries, wages and incentives		411		403		400		407		403
Employee benefits		111		76		78		85		100
Net occupancy expense		78		73		73		75		77
Technology and communications		58		56		62		60		56
Equipment expense		28		29		29		30		30
Card and processing expense		30		31		30		37		35
Other noninterest expense		270		292		301		289		285
Total noninterest expense		986		960		973		983		986
Taxable Equivalent Income Before Income Taxes(a)		402		515		700		433		441
Taxable equivalent adjustment		6		6		6		6		6
Income Before Income Taxes		396		509		694		427		435
Applicable income tax expense		91		114		178		103		109
Net Income		305		395		516		324		326
Less: Net Income attributable to noncontrolling interests		—		—		—		(4)		—
Net Income Attributable to Bancorp		305		395		516		328		326
Dividends on preferred stock		15		23		15		23		15
Net Income Available to Common Shareholders	$	290	$	372	$	501	$	305	$	311

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 31.

(b) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

21

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of						% Change
	March 2017		December 2016		March 2016(d)		Seq		Yr/Yr
Assets
Cash and due from banks	$	2,205	$	2,392	$	2,298		(8%)		(4%)
Available-for-sale and other securities(a)		31,531		31,183		29,891		1%		5%
Held-to-maturity securities(b)		26		26		64		—		(59%)
Trading securities		689		410		405		68%		70%
Other short-term investments		1,644		2,754		1,778		(40%)		(8%)
Loans held for sale		616		751		803		(18%)		(23%)
Portfolio loans and leases:
Commercial and industrial loans		41,074		41,676		43,433		(1%)		(5%)
Commercial mortgage loans		6,924		6,899		6,864		—		1%
Commercial construction loans		4,283		3,903		3,428		10%		25%
Commercial leases		4,092		3,974		3,956		3%		3%
Residential mortgage loans		15,336		15,051		13,895		2%		10%
Home equity		7,469		7,695		8,112		(3%)		(8%)
Automobile loans		9,572		9,983		11,128		(4%)		(14%)
Credit card		2,070		2,237		2,138		(7%)		(3%)
Other consumer loans and leases		808		680		651		19%		24%
Portfolio loans and leases		91,628		92,098		93,605		(1%)		(2%)
Allowance for loan and lease losses		(1,238)		(1,253)		(1,295)		(1%)		(4%)
Portfolio loans and leases, net		90,390		90,845		92,310		(1%)		(2%)
Bank premises and equipment		2,052		2,065		2,185		(1%)		(6%)
Operating lease equipment		702		738		738		(5%)		(5%)
Goodwill		2,419		2,416		2,416		—		—
Intangible assets		11		9		11		22%		—
Servicing rights		776		744		685		4%		13%
Other assets		7,139		7,844		8,846		(9%)		(19%)
Total Assets	$	140,200	$	142,177	$	142,430		(1%)		(2%)
Liabilities
Deposits:
Demand	$	35,362	$	35,782	$	35,858		(1%)		(1%)
Interest checking		27,230		26,679		25,182		2%		8%
Savings		14,360		13,941		14,738		3%		(3%)
Money market		20,585		20,749		19,377		(1%)		6%
Foreign office		521		426		441		22%		18%
Other time		3,750		3,866		4,049		(3%)		(7%)
Certificates $100,000 and over		2,348		2,378		2,830		(1%)		(17%)
Other		—		—		—		—		—
Total deposits		104,156		103,821		102,475		—		2%
Federal funds purchased		155		132		134		17%		16%
Other short-term borrowings		2,015		3,535		3,523		(43%)		(43%)
Accrued taxes, interest and expenses		1,655		1,800		2,011		(8%)		(18%)
Other liabilities		2,104		2,269		2,627		(7%)		(20%)
Long-term debt		13,658		14,388		15,305		(5%)		(11%)
Total Liabilities		123,743		125,945		126,075		(2%)		(2%)
Equity
Common stock(c)		2,051		2,051		2,051		—		—
Preferred stock		1,331		1,331		1,331		—		—
Capital surplus		2,803		2,756		2,687		2%		4%
Retained earnings		13,625		13,441		12,569		1%		8%
Accumulated other comprehensive income		68		59		684		15%		(90%)
Treasury stock		(3,448)		(3,433)		(2,999)		—		15%
Total Bancorp shareholders’ equity		16,430		16,205		16,323		1%		1%
Noncontrolling interests		27		27		32		—		(16%)
Total Equity		16,457		16,232		16,355		1%		1%
Total Liabilities and Equity	$	140,200	$	142,177	$	142,430		(1%)		(2%)
(a) Amortized cost	$	31,348	$	31,024	$	28,838		1%		9%
(b) Market values		26		26		64		—		(59%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		—		—
Outstanding, excluding treasury		750,145		750,479		770,471		—		(3%)
Treasury		173,748		173,413		153,422		—		13%

(d) A net tax deficiency of $1 million was reclassified from capital surplus to applicable income tax expense at March 31, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	March 2017		December 2016		September 2016(d)		June 2016(d)		March 2016(d)
Assets
Cash and due from banks	$	2,205	$	2,392	$	2,164	$	2,359	$	2,298
Available-for-sale and other securities(a)		31,531		31,183		30,689		31,455		29,891
Held-to-maturity securities(b)		26		26		56		62		64
Trading securities		689		410		431		401		405
Other short-term investments		1,644		2,754		2,995		1,818		1,778
Loans held for sale		616		751		1,060		877		803
Portfolio loans and leases:
Commercial and industrial loans		41,074		41,676		42,727		43,558		43,433
Commercial mortgage loans		6,924		6,899		6,856		6,875		6,864
Commercial construction loans		4,283		3,903		3,905		3,706		3,428
Commercial leases		4,092		3,974		3,995		3,978		3,956
Residential mortgage loans		15,336		15,051		14,643		14,307		13,895
Home equity		7,469		7,695		7,864		7,988		8,112
Automobile loans		9,572		9,983		10,349		10,671		11,128
Credit card		2,070		2,237		2,169		2,172		2,138
Other consumer loans and leases		808		680		643		654		651
Portfolio loans and leases		91,628		92,098		93,151		93,909		93,605
Allowance for loan and lease losses		(1,238)		(1,253)		(1,272)		(1,299)		(1,295)
Portfolio loans and leases, net		90,390		90,845		91,879		92,610		92,310
Bank premises and equipment		2,052		2,065		2,084		2,144		2,185
Operating lease equipment		702		738		771		756		738
Goodwill		2,419		2,416		2,416		2,416		2,416
Intangible assets		11		9		10		10		11
Servicing rights		776		744		619		621		685
Other assets		7,139		7,844		8,105		8,096		8,846
Total Assets	$	140,200	$	142,177	$	143,279	$	143,625	$	142,430
Liabilities
Deposits:
Demand	$	35,362	$	35,782	$	35,625	$	36,137	$	35,858
Interest checking		27,230		26,679		24,483		24,571		25,182
Savings		14,360		13,941		14,019		14,356		14,738
Money market		20,585		20,749		19,910		19,125		19,377
Foreign office		521		426		518		453		441
Other time		3,750		3,866		3,971		4,021		4,049
Certificates $100,000 and over		2,348		2,378		2,745		2,778		2,830
Other		—		—		—		430		—
Total deposits		104,156		103,821		101,271		101,871		102,475
Federal funds purchased		155		132		126		108		134
Other short-term borrowings		2,015		3,535		3,494		3,979		3,523
Accrued taxes, interest and expenses		1,655		1,800		2,178		2,187		2,011
Other liabilities		2,104		2,269		2,516		2,495		2,627
Long-term debt		13,658		14,388		16,890		16,231		15,305
Total Liabilities		123,743		125,945		126,475		126,871		126,075
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		2,803		2,756		2,750		2,760		2,687
Retained earnings		13,625		13,441		13,175		12,772		12,569
Accumulated other comprehensive income		68		59		755		889		684
Treasury stock		(3,448)		(3,433)		(3,286)		(3,077)		(2,999)
Total Bancorp shareholders’ equity		16,430		16,205		16,776		16,726		16,323
Noncontrolling interests		27		27		28		28		32
Total Equity		16,457		16,232		16,804		16,754		16,355
Total Liabilities and Equity	$	140,200	$	142,177	$	143,279	$	143,625	$	142,430
(a) Amortized cost	$	31,348	$	31,024	$	29,486	$	30,101	$	28,838
(b) Market values		26		26		56		62		64
(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		750,145		750,479		755,582		766,346		770,471
Treasury		173,748		173,413		168,310		157,547		153,422

(d) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

23

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended
	March 2017			March 2016(a)
Total Equity, Beginning	$	16,232		$	15,870
Net income attributable to Bancorp		305			326
Other comprehensive income, net of tax:
Change in unrealized gains:
Available-for-sale securities		16			447
Qualifying cash flow hedges		(8	)		39
Change in accumulated other comprehensive income related to employee benefit plans		1			1
Comprehensive income		314			813
Cash dividends declared:
Common stock		(106	)		(100	)
Preferred stock		(15	)		(15	)
Impact of stock transactions under stock compensation plans, net		32			25
Shares acquired for treasury		—			(240	)
Noncontrolling interest		—			1
Other		—			1
Total Equity, Ending	$	16,457		$	16,355

(a) A net tax deficiency of $1 million was reclassified from capital surplus to applicable income tax expense at March 31, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

24

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended						% Change
	March 2017		December 2016		March 2016(c)		Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,892	$	42,612	$	43,127		(2%)		(3%)
Commercial mortgage loans		6,946		6,961		6,908		—		1%
Commercial construction loans		3,987		3,890		3,297		2%		21%
Commercial leases		3,904		3,921		3,875		—		1%
Residential mortgage loans		15,800		15,802		14,405		—		10%
Home equity		7,581		7,779		8,241		(3%)		(8%)
Automobile loans		9,786		10,162		11,285		(4%)		(13%)
Credit card		2,141		2,180		2,277		(2%)		(6%)
Other consumer loans and leases		754		674		663		12%		14%
Taxable securities		31,815		30,677		29,619		4%		7%
Tax exempt securities		55		81		78		(32%)		(29%)
Other short-term investments		1,307		1,809		1,876		(28%)		(30%)
Total interest-earning assets		125,968		126,548		125,651		—		—
Cash and due from banks		2,205		2,358		2,335		(6%)		(6%)
Other assets		13,220		14,203		14,869		(7%)		(11%)
Allowance for loan and lease losses		(1,253)		(1,272)		(1,273)		(1%)		(2%)
Total Assets	$	140,140	$	141,837	$	141,582		(1%)		(1%)
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	26,760	$	25,644	$	25,740		4%		4%
Savings deposits		14,117		13,979		14,601		1%		(3%)
Money market deposits		20,603		20,476		18,655		1%		10%
Foreign office deposits		454		497		483		(9%)		(6%)
Other time deposits		3,827		3,941		4,035		(3%)		(5%)
Certificates $100,000 and over		2,579		2,539		2,815		2%		(8%)
Other deposits		162		115		—		41%		NM
Federal funds purchased		639		280		608		NM		5%
Other short-term borrowings		1,893		1,908		3,564		(1%)		(47%)
Long-term debt		13,856		15,173		14,949		(9%)		(7%)
Total interest-bearing liabilities		84,890		84,552		85,450		—		(1%)
Demand deposits		35,084		36,412		35,201		(4%)		—
Other liabilities		3,710		4,300		4,524		(14%)		(18%)
Total Liabilities		123,684		125,264		125,175		(1%)		(1%)
Total Equity		16,456		16,573		16,407		(1%)		—
Total Liabilities and Equity	$	140,140	$	141,837	$	141,582		(1%)		(1%)
	For the Three Months Ended						bps Change
Yield Analysis	March		December		March
	2017		2016		2016		Seq		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		3.47%		3.33%		3.23%		14		24
Commercial mortgage loans(a)		3.54%		3.42%		3.27%		12		27
Commercial construction loans(a)		3.77%		3.50%		3.38%		27		39
Commercial leases(a)		2.70%		2.64%		2.77%		6		(7)
Residential mortgage loans		3.57%		3.48%		3.63%		9		(6)
Home equity		3.98%		3.73%		3.80%		25		18
Automobile loans		2.81%		2.80%		2.65%		1		16
Credit card		12.92%		7.30%		10.64%		562		228
Other consumer loans and leases		6.49%		6.73%		6.27%		(24)		22
Total loans and leases		3.69%		3.43%		3.46%		26		23
Taxable securities		3.11%		3.17%		3.14%		(6)		(3)
Tax exempt securities(a)		5.79%		4.76%		4.32%		103		147
Other short-term investments		0.73%		0.47%		0.42%		26		31
Total interest-earning assets		3.51%		3.33%		3.34%		18		17
Interest-bearing liabilities:
Interest checking deposits		0.31%		0.25%		0.23%		6		8
Savings deposits		0.05%		0.04%		0.04%		1		1
Money market deposits		0.32%		0.30%		0.25%		2		7
Foreign office deposits		0.13%		0.15%		0.15%		(2)		(2)
Other time deposits		1.23%		1.24%		1.22%		(1)		1
Certificates $100,000 and over		1.35%		1.35%		1.28%		—		7
Other deposits		0.64%		0.41%		0.00%		23		64
Federal funds purchased		0.70%		0.41%		0.36%		29		34
Other short-term borrowings		0.55%		0.36%		0.39%		19		16
Long-term debt		2.65%		2.42%		2.22%		23		43
Total interest-bearing liabilities		0.73%		0.70%		0.64%		3		9
Ratios:
Taxable equivalent net interest margin(b)		3.02%		2.86%		2.91%		16		11
Taxable equivalent net interest rate spread		2.78%		2.63%		2.70%		15		8
Interest-bearing liabilities to interest-earning assets		67.39%		66.81%		68.01%		58		(62)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 31.

(c) A net tax deficiency of $1 million was reclassified from capital surplus to applicable income tax expense at March 31, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	March 2017		December 2016		September 2016(c)		June 2016(c)		March 2016(c)
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,892	$	42,612	$	43,125	$	43,878	$	43,127
Commercial mortgage loans		6,946		6,961		6,891		6,835		6,908
Commercial construction loans		3,987		3,890		3,848		3,551		3,297
Commercial leases		3,904		3,921		3,963		3,904		3,875
Residential mortgage loans		15,800		15,802		15,346		14,842		14,405
Home equity		7,581		7,779		7,918		8,059		8,241
Automobile loans		9,786		10,162		10,508		10,887		11,285
Credit card		2,141		2,180		2,165		2,198		2,277
Other consumer loans and leases		754		674		653		653		663
Taxable securities		31,815		30,677		29,772		30,002		29,619
Tax exempt securities		55		81		76		85		78
Other short-term investments		1,307		1,809		1,827		1,953		1,876
Total interest-earning assets		125,968		126,548		126,092		126,847		125,651
Cash and due from banks		2,205		2,358		2,289		2,228		2,335
Other assets		13,220		14,203		15,644		15,140		14,869
Allowance for loan and lease losses		(1,253)		(1,272)		(1,299)		(1,295)		(1,273)
Total Assets	$	140,140	$	141,837	$	142,726	$	142,920	$	141,582
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	26,760	$	25,644	$	24,475	$	24,714	$	25,740
Savings deposits		14,117		13,979		14,232		14,576		14,601
Money market deposits		20,603		20,476		19,706		19,243		18,655
Foreign office deposits		454		497		524		484		483
Other time deposits		3,827		3,941		4,020		4,044		4,035
Certificates $100,000 and over		2,579		2,539		2,768		2,819		2,815
Other deposits		162		115		749		467		—
Federal funds purchased		639		280		446		693		608
Other short-term borrowings		1,893		1,908		2,171		3,754		3,564
Long-term debt		13,856		15,173		16,102		15,351		14,949
Total interest-bearing liabilities		84,890		84,552		85,193		86,145		85,450
Demand deposits		35,084		36,412		35,918		35,912		35,201
Other liabilities		3,710		4,300		4,704		4,247		4,524
Total Liabilities		123,684		125,264		125,815		126,304		125,175
Total Equity		16,456		16,573		16,911		16,616		16,407
Total Liabilities and Equity	$	140,140	$	141,837	$	142,726	$	142,920	$	141,582
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.47%		3.33%		3.28%		3.25%		3.23%
Commercial mortgage loans(a)		3.54%		3.42%		3.31%		3.28%		3.27%
Commercial construction loans(a)		3.77%		3.50%		3.43%		3.36%		3.38%
Commercial leases(a)		2.70%		2.64%		2.64%		2.71%		2.77%
Residential mortgage loans		3.57%		3.48%		3.51%		3.57%		3.63%
Home equity		3.98%		3.73%		3.76%		3.81%		3.80%
Automobile loans		2.81%		2.80%		2.71%		2.68%		2.65%
Credit card		12.92%		7.30%		10.34%		10.47%		10.64%
Other consumer loans and leases		6.49%		6.73%		6.90%		6.36%		6.27%
Total loans and leases		3.69%		3.43%		3.46%		3.45%		3.46%
Taxable securities		3.11%		3.17%		3.18%		3.16%		3.14%
Tax exempt securities(a)		5.79%		4.76%		4.91%		4.09%		4.32%
Other short-term investments		0.73%		0.47%		0.44%		0.43%		0.42%
Total interest-earning assets		3.51%		3.33%		3.36%		3.34%		3.34%
Interest-bearing liabilities:
Interest checking deposits		0.31%		0.25%		0.23%		0.22%		0.23%
Savings deposits		0.05%		0.04%		0.04%		0.05%		0.04%
Money market deposits		0.32%		0.30%		0.27%		0.26%		0.25%
Foreign office deposits		0.13%		0.15%		0.17%		0.15%		0.15%
Other time deposits		1.23%		1.24%		1.24%		1.24%		1.22%
Certificates $100,000 and over		1.35%		1.35%		1.28%		1.29%		1.28%
Other deposits		0.64%		0.41%		0.41%		0.40%		0.00%
Federal funds purchased		0.70%		0.41%		0.40%		0.39%		0.36%
Other short-term borrowings		0.55%		0.36%		0.30%		0.36%		0.39%
Long-term debt		2.65%		2.42%		2.40%		2.36%		2.22%
Total interest-bearing liabilities		0.73%		0.70%		0.70%		0.67%		0.64%
Ratios:
Taxable equivalent net interest margin(b)		3.02%		2.86%		2.88%		2.88%		2.91%
Taxable equivalent net interest rate spread		2.78%		2.63%		2.66%		2.67%		2.70%
Interest-bearing liabilities to interest-earning assets		67.39%		66.81%		67.56%		67.91%		68.01%

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 31.

(c) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

26

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	March		December		September		June		March
	2017		2016		2016		2016		2016
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	41,854	$	42,548	$	43,116	$	43,876	$	43,089
Commercial mortgage loans		6,941		6,957		6,888		6,831		6,886
Commercial construction loans		3,987		3,890		3,848		3,551		3,297
Commercial leases		3,901		3,921		3,962		3,898		3,874
Total commercial loans and leases		56,683		57,316		57,814		58,156		57,146
Consumer loans and leases:
Residential mortgage loans		15,200		14,854		14,455		14,046		13,788
Home equity		7,581		7,779		7,918		8,054		8,217
Automobile loans		9,786		10,162		10,508		10,887		11,283
Credit card		2,141		2,180		2,165		2,134		2,179
Other consumer loans and leases		755		673		651		654		662
Total consumer loans and leases		35,463		35,648		35,697		35,775		36,129
Total average portfolio loans and leases	$	92,146	$	92,964	$	93,511	$	93,931	$	93,275
Average loans held for sale	$	645	$	1,017	$	906	$	876	$	803
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	41,074	$	41,676	$	42,727	$	43,558	$	43,433
Commercial mortgage loans		6,924		6,899		6,856		6,875		6,864
Commercial construction loans		4,283		3,903		3,905		3,706		3,428
Commercial leases		4,092		3,974		3,995		3,978		3,956
Total commercial loans and leases		56,373		56,452		57,483		58,117		57,681
Consumer loans and leases:
Residential mortgage loans		15,336		15,051		14,643		14,307		13,895
Home equity		7,469		7,695		7,864		7,988		8,112
Automobile loans		9,572		9,983		10,349		10,671		11,128
Credit card		2,070		2,237		2,169		2,172		2,138
Other consumer loans and leases		808		680		643		654		651
Total consumer loans and leases		35,255		35,646		35,668		35,792		35,924
Total portfolio loans and leases	$	91,628	$	92,098	$	93,151	$	93,909	$	93,605
Total loans held for sale	$	616	$	751	$	1,060	$	877	$	803
Operating lease equipment	$	702	$	738	$	771	$	756	$	738
Loans and Leases Serviced for Others:(a)
Commercial and industrial loans	$	515	$	519	$	544	$	567	$	552
Commercial mortgage loans		223		226		226		229		231
Commercial construction loans		54		41		38		24		26
Commercial leases		270		280		270		282		262
Residential mortgage loans		55,413		53,554		54,646		56,170		57,758
Automobile loans		—		51		66		83		102
Total loans and leases serviced for others		56,475		54,671		55,790		57,355		58,931
Total loans and leases serviced	$	149,421	$	148,258	$	150,772	$	152,897	$	154,077

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

27

Fifth Third Bancorp and Subsidiaries

Regulatory Capital

$ in millions

(unaudited)

	As of
	March		December		September		June		March
	2017(a)		2016		2016		2016		2016
Regulatory capital:
Common stock and related surplus (net of treasury stock)	$	1,407	$	1,374	$	1,510	$	1,728	$	1,738
Retained earnings		13,625		13,441		13,175		12,772		12,569
Common equity tier I capital adjustments and deductions		(2,396)		(2,389)		(2,386)		(2,388)		(2,393)
CET1 capital		12,636		12,426		12,299		12,112		11,914
Additional tier I capital		1,331		1,330		1,331		1,331		1,330
Tier I capital		13,967		13,756		13,630		13,443		13,244
Tier II capital		4,172		4,216		4,374		4,414		4,553
Total regulatory capital	$	18,139	$	17,972	$	18,004	$	17,857	$	17,797
Risk-weighted assets(b)	$	117,407	$	119,632	$	120,954	$	121,824	$	121,432
Ratios:
Average shareholders’ equity to average assets		11.72%		11.66%		11.83%		11.60%		11.57%
Regulatory capital ratios:
Fifth Third Bancorp
CET1 capital(b)		10.76%		10.39%		10.17%		9.94%		9.81%
Tier I risk-based capital(b)		11.90%		11.50%		11.27%		11.03%		10.91%
Total risk-based capital(b)		15.45%		15.02%		14.88%		14.66%		14.66%
Tier I leverage		10.15%		9.90%		9.80%		9.64%		9.57%
CET1 capital (fully phased-in)(b)(c)		10.66%		10.29%		10.09%		9.86%		9.72%
Fifth Third Bank
Tier I risk-based capital(b)		12.17%		11.92%		11.98%		11.83%		11.79%
Total risk-based capital(b)		14.03%		13.76%		13.82%		13.67%		13.63%
Tier I leverage		10.41%		10.30%		10.46%		10.37%		10.39%

(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 31.

28

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	March 2017		December 2016		September 2016		June 2016		March 2016
Average portfolio loans and leases:
Commercial and industrial loans	$	41,854	$	42,548	$	43,116	$	43,876	$	43,089
Commercial mortgage loans		6,941		6,957		6,888		6,831		6,886
Commercial construction loans		3,987		3,890		3,848		3,551		3,297
Commercial leases		3,901		3,921		3,962		3,898		3,874
Residential mortgage loans		15,200		14,854		14,455		14,046		13,788
Home equity		7,581		7,779		7,918		8,054		8,217
Automobile loans		9,786		10,162		10,508		10,887		11,283
Credit card		2,141		2,180		2,165		2,134		2,179
Other consumer loans and leases		755		673		651		654		662
Total average portfolio loans and leases	$	92,146	$	92,964	$	93,511	$	93,931	$	93,275
Losses charged-off:
Commercial and industrial loans	($	39)	($	35)	($	76)	($	43)	($	50)
Commercial mortgage loans		(6)		(4)		(4)		(7)		(8)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		(1)		(1)		(1)		(2)
Residential mortgage loans		(6)		(4)		(4)		(5)		(4)
Home equity		(9)		(10)		(10)		(10)		(11)
Automobile loans		(17)		(15)		(14)		(12)		(14)
Credit card		(24)		(21)		(22)		(23)		(23)
Other consumer loans and leases		(5)		(7)		(6)		(4)		(4)
Total losses charged-off	($	107)	($	97)	($	137)	($	105)	($	116)
Recoveries of losses previously charged-off:
Commercial and industrial loans	$	3	$	10	$	15	$	4	$	4
Commercial mortgage loans		1		2		2		1		2
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		1		—		—
Residential mortgage loans		1		2		2		3		2
Home equity		3		4		3		4		3
Automobile loans		6		4		5		4		5
Credit card		2		2		2		2		3
Other consumer loans and leases		2		—		—		—		1
Total recoveries of losses previously charged-off	$	18	$	24	$	30	$	18	$	20
Net losses charged-off:
Commercial and industrial loans	($	36)	($	25)	($	61)	($	39)	($	46)
Commercial mortgage loans		(5)		(2)		(2)		(6)		(6)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		(1)		—		(1)		(2)
Residential mortgage loans		(5)		(2)		(2)		(2)		(2)
Home equity		(6)		(6)		(7)		(6)		(8)
Automobile loans		(11)		(11)		(9)		(8)		(9)
Credit card		(22)		(19)		(20)		(21)		(20)
Other consumer loans and leases		(3)		(7)		(6)		(4)		(3)
Total net losses charged-off	($	89)	($	73)	($	107)	($	87)	($	96)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.34%		0.24%		0.56%		0.36%		0.43%
Commercial mortgage loans		0.29%		0.11%		0.08%		0.38%		0.35%
Commercial construction loans		0.00%		0.00%		0.00%		0.00%		(0.06%)
Commercial leases		0.08%		0.12%		0.00%		0.09%		0.20%
Residential mortgage loans		0.13%		0.06%		0.07%		0.06%		0.07%
Home equity		0.33%		0.35%		0.32%		0.30%		0.36%
Automobile loans		0.48%		0.40%		0.35%		0.26%		0.32%
Credit card		4.03%		3.52%		3.61%		3.92%		3.73%
Other consumer loans and leases		2.89%		3.30%		3.70%		2.42%		2.28%
Total net losses charged-off as a percent of average portfolio loans and leases		0.40%		0.31%		0.45%		0.37%		0.42%

29

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	March		December		September		June		March
	2017		2016		2016		2016		2016
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,253	$	1,272	$	1,299	$	1,295	$	1,272
Total net losses charged-off		(89)		(73)		(107)		(87)		(96)
Provision for loan and lease losses		74		54		80		91		119
Allowance for loan and lease losses, ending	$	1,238	$	1,253	$	1,272	$	1,299	$	1,295
Reserve for unfunded commitments, beginning	$	161	$	162	$	151	$	144	$	138
Provision for unfunded commitments		(2)		(1)		11		7		6
Reserve for unfunded commitments, ending	$	159	$	161	$	162	$	151	$	144
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,238	$	1,253	$	1,272	$	1,299	$	1,295
Reserve for unfunded commitments		159		161		162		151		144
Total allowance for credit losses	$	1,397	$	1,414	$	1,434	$	1,450	$	1,439
	As of
	March		December		September		June		March
	2017		2016		2016		2016		2016
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	251	$	302	$	235	$	254	$	278
Commercial mortgage loans		21		27		31		39		51
Commercial construction loans		—		—		—		—		—
Commercial leases		—		2		—		4		4
Residential mortgage loans		21		17		19		27		25
Home equity		53		55		59		61		61
Total nonaccrual portfolio loans and leases (excludes restructured loans)		346		403		344		385		419
Nonaccrual restructured portfolio commercial loans and leases		251		192		194		242		210
Nonaccrual restructured portfolio consumer loans and leases		60		65		63		66		72
Total nonaccrual portfolio loans and leases		657		660		601		693		701
Repossessed property		14		15		13		15		17
OREO		50		63		84		97		107
Total nonperforming portfolio assets		721		738		698		805		825
Nonaccrual loans held for sale		7		4		91		20		3
Nonaccrual restructured loans held for sale		2		9		9		—		2
Total nonperforming assets	$	730	$	751	$	798	$	825	$	830
Restructured portfolio consumer loans and leases (accrual)	$	950	$	959	$	972	$	982	$	998
Restructured portfolio commercial loans and leases (accrual)	$	277	$	321	$	408	$	431	$	461
90 days past due loans and leases (accrual):
Commercial and industrial loans	$	3	$	4	$	7	$	2	$	3
Commercial mortgage loans		—		—		—		—		—
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		—		—
Total commercial loans and leases		3		4		7		2		3
Residential mortgage loans		45		49		43		38		44
Home equity		—		—		—		—		—
Automobile loans		6		9		8		7		8
Credit card		21		22		18		18		18
Other consumer loans and leases		—		—		—		—		—
Total consumer loans and leases		72		80		69		63		70
Total 90 days past due loans and leases (accrual)(b)	$	75	$	84	$	76	$	65	$	73
Ratios
Net losses charged-off as a percent of average portfolio loans and leases		0.40%		0.31%		0.45%		0.37%		0.42%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases		1.35%		1.36%		1.37%		1.38%		1.38%
As a percent of nonperforming loans and leases(a)		188%		190%		212%		188%		185%
As a percent of nonperforming assets(a)		172%		170%		182%		161%		157%
Nonperforming loans and leases as a percent of portfolio loans and leases and OREO(a)		0.72%		0.72%		0.64%		0.74%		0.75%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(a)		0.79%		0.80%		0.75%		0.86%		0.88%
Nonperforming assets as a percent of total loans, leases and other assets, including OREO		0.79%		0.81%		0.85%		0.87%		0.88%
Allowance for credit losses as a percent of nonperforming assets		194%		192%		205%		180%		174%

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

(b) Does not include loans held for sale.

30

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 : “taxable equivalent net interest income,” “taxable equivalent net interest margin,” “adjusted net interest margin,” “efficiency ratio,” “taxable equivalent income before income taxes,” “noninterest income excluding certain items,” “adjusted noninterest income,” “adjusted noninterest income excluding mortgage banking net revenue,” “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 taxable equivalent 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.

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 32 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; taxable equivalent net interest margin; adjusted net interest margin; taxable equivalent net interest income; adjusted noninterest income; adjusted noninterest income excluding mortgage banking net revenue; 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.

31

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

		For the Three Months Ended
		March 2017		December 2016		September 2016(4)		June 2016(4)		March 2016(4)
Net interest income (U.S. GAAP)		$	933	$	903	$	907	$	902	$	903
Add:	Taxable equivalent adjustment		6		6		6		6		6
Taxable equivalent net interest income (a)			939		909		913		908		909
Net interest income (U.S. GAAP) (annualized) (b)			3,784		3,592		3,608		3,628		3,632
Taxable equivalent net interest income (annualized) (c)			3,808		3,616		3,632		3,652		3,656
Taxable equivalent net interest income (a)			939		909
Add (subtract): Bankcard refunds			(12)		16
Taxable equivalent net interest income (d)			927		925
Adjusted taxable equivalent net interest income (annualized) (e)			3,760		3,680
Noninterest income (f)			523		620		840		599		637
Noninterest expense (g)			986		960		973		983		986
Average interest-earning assets (h)			125,968		126,548		126,092		126,847		125,651
Net interest margin (U.S. GAAP) (b)/(h)			3.00%		2.84%		2.86%		2.86%		2.89%
Taxable equivalent net interest margin (c)/(h)			3.02%		2.86%		2.88%		2.88%		2.91%
Adjusted net interest margin (e)/(h)			2.98%		2.91%
Taxable equivalent efficiency ratio (g)/(a)+(f)			67.4%		62.8%		55.5%		65.3%		63.8%
Income before income taxes (U.S. GAAP)			396		509		694		427		435
Add:	Taxable equivalent adjustment		6		6		6		6		6
Taxable equivalent income before income taxes			402		515		700		433		441
Net income available to common shareholders (U.S. GAAP)			290		372		501		305		311
Add:	Intangible amortization, net of tax		—		—		—		—		—
Tangible net income available to common shareholders			290		372		501		305		311
Tangible net income available to common shareholders (annualized) (i)			1,176		1,480		1,993		1,227		1,251
Average Bancorp shareholders’ equity (U.S. GAAP)			16,429		16,545		16,883		16,584		16,376
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)		(10)		(10)		(11)		(12)
Average tangible common equity (j)			12,672		12,788		13,126		12,826		12,617
Total Bancorp shareholders’ equity (U.S. GAAP)			16,430		16,205		16,776		16,726		16,323
Less:	Preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Goodwill		(2,419)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(11)		(10)		(10)		(11)		(12)
Tangible common equity, including unrealized gains / losses (k)			12,669		12,448		13,019		12,968		12,564
Less:	Accumulated other comprehensive income		(68)		(59)		(755)		(889)		(684)
Tangible common equity, excluding unrealized gains / losses (l)			12,601		12,389		12,264		12,079		11,880
Add:	Preferred stock		1,331		1,331		1,331		1,331		1,331
Tangible equity (m)			13,932		13,720		13,595		13,410		13,211
Total assets (U.S. GAAP)			140,200		142,177		143,279		143,625		142,430
Less:	Goodwill		(2,419)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(11)		(10)		(10)		(11)		(12)
Tangible assets, including unrealized gains / losses (n)			137,770		139,751		140,853		141,198		140,002
Less:	Accumulated other comprehensive income / loss, before tax		(105)		(91)		(1,162)		(1,368)		(1,052)
Tangible assets, excluding unrealized gains / losses (o)		$	137,665	$	139,660	$	139,691		139,830		138,950
Common shares outstanding (p)			750		750		756		766		770
Risk-weighted assets (actual) (q) (1)		$	117,407	$	119,632	$	120,954	$	121,824	$	121,432
Ratios:
Return on average tangible common equity (i) / (j)			9.3%		11.6%		15.2%		9.6%		9.9%
Tangible equity (m) / (o)			10.12%		9.82%		9.73%		9.59%		9.51%
Tangible common equity (excluding unrealized gains/losses) (l) / (o)			9.15%		8.87%		8.78%		8.64%		8.55%
Tangible common equity (including unrealized gains/losses) (k) / (n)			9.20%		8.91%		9.24%		9.18%		8.97%
Tangible book value per share (k) / (p)		$	16.89	$	16.60	$	17.22	$	16.93	$	16.32
Basel III Final Rule - Transition to fully phased-in
CET1 capital (transitional)		$	12,636	$	12,426	$	12,299	$	12,112	$	11,914
Less: Adjustments to CET1 capital from transitional to fully phased-in (2)			(2)		(4)		(4)		(4)		(5)
CET1 capital (fully phased-in) (r)			12,634		12,422		12,295		12,108		11,909
Risk-weighted assets (transitional)			117,407		119,632		120,954		121,824		121,432
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (3)			1,164		1,115		929		932		1,027
Risk-weighted assets (fully phased-in) (s)		$	118,571	$	120,747	$	121,883	$	122,756	$	122,459
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (r)/(s)			10.66%		10.29%		10.09%		9.86%		9.72%

(1) Under the banking agencies’ risk-based capital guidelines, assets and off-balance sheet exposures are assigned to various risk categories based upon the Standardized Approach to 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.

(4) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

32

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended March 31, 2017	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations		Total
Taxable equivalent net interest income(a)	$	431	$	430	$	61	$	38	($	21)	$	939
Provision for loan and lease losses		(6)		(42)		(15)		(4)		(7)		(74)
Net interest income after provision for loan and lease losses		425		388		46		34		(28)		865
Total noninterest income		202		184		55		106		(24)		523
Total noninterest expense		(370)		(402)		(120)		(113)		19		(986)
Income (loss) before income taxes		257		170		(19)		27		(33)		402
Applicable income tax expense(a)		(46)		(60)		7		(10)		12		(97)
Net income (loss)		211		110		(12)		17		(21)		305
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		211		110		(12)		17		(21)		305
Dividends on preferred stock		—		—		—		—		15		15
Net income (loss) available to common shareholders	$	211	$	110	($	12)	$	17	($	36)	$	290
For the three months ended December 31, 2016	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations		Total
Taxable equivalent net interest income(a)	$	453	$	397	$	63	$	41	($	45)	$	909
(Provision for) benefit from loan and lease losses		43		(34)		(12)		—		(51)		(54)
Net interest income after provision for loan and lease losses		496		363		51		41		(96)		855
Total noninterest income		221		188		69		99		43		620
Total noninterest expense		(359)		(400)		(117)		(103)		19		(960)
Income (loss) before income taxes		358		151		3		37		(34)		515
Applicable income tax expense(a)		(78)		(53)		(1)		(13)		25		(120)
Net income (loss)		280		98		2		24		(9)		395
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		280		98		2		24		(9)		395
Dividends on preferred stock		—				—		—		23		23
Net income (loss) available to common shareholders	$	280	$	98	$	2	$	24	($	32)	$	372
For the three months ended September 30, 2016	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations(d)		Total(d)
Taxable equivalent 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 before income taxes		359		141		5		36		159		700
Applicable income tax expense(a)		(80)		(50)		(2)		(13)		(39)		(184)
Net income		279		91		3		23		120		516
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		279		91		3		23		120		516
Dividends on preferred stock		—		—		—		—		15		15
Net income available to common shareholders	$	279	$	91	$	3	$	23	$	105	$	501
For the three months ended June 30, 2016	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations(d)		Total(d)
Taxable equivalent net interest income(a)	$	466	$	433	$	62	$	44	($	97)	$	908
(Provision for) benefit from 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)		27		(109)
Net income (loss)		226		132		7		23		(64)		324
Less: Net income attributable to noncontrolling interests		—		—		—		—		(4)		(4)
Net income (loss) attributable to Bancorp		226		132		7		23		(60)		328
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	226	$	132	$	7	$	23	($	83)	$	305
For the three months ended March 31, 2016	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations(d)		Total(d)
Taxable equivalent 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 before income taxes		252		170		13		36		(30)		441
Applicable income tax expense(a)		(41)		(60)		(5)		(13)		4		(115)
Net income		211		110		8		23		(26)		326
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		211		110		8		23		(26)		326
Dividends on preferred stock		—		—		—		—		15		15
Net income available to common shareholders	$	211	$	110	$	8	$	23	($	41)	$	311

(a) Includes taxable equivalent adjustments of $6 million for the three months ended March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016.

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

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

(d) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

33

EX-99.2

1Q17 Earnings Presentation

April 25, 2017

Refer to earnings release dated April 25, 2017 for further information.

Exhibit 99.2

2

©

Fifth Third Bancorp | All Rights Reserved

Cautionary statement

This presentation 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) changes in customer preferences or information technology systems; (12) effects of critical accounting

policies and judgments; (13) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory

agencies; (14) 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; (15) ability to maintain favorable ratings from rating agencies; (16) failure of models or risk management systems or controls; (17) fluctuation of Fifth Third’s

stock price; (18) ability to attract and retain key personnel; (19) ability to receive dividends from its subsidiaries; (20) potentially dilutive effect of future acquisitions on current

shareholders’ ownership of Fifth Third; (21) declines in the value of Fifth Third’s goodwill or other intangible assets; (22)

effects of accounting or financial results of one or more

acquired entities; (23) difficulties from Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv

Holding, LLC; (24) loss of income from any sale or

potential sale of businesses (25) difficulties in separating the operations of any branches or other assets divested; (26) losses or adverse impacts on the carrying values of

branches and long-lived assets in connection with their sales or anticipated sales; (27) inability to achieve expected benefits from branch consolidations and planned sales

within desired timeframes, if at all; (28) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications

networks; and (29) 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.

Management has provided forward-looking guidance on certain non-GAAP measures in connection with this 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 adjusted 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.

3

© Fifth Third Bancorp | All Rights Reserved

•

Adjusted NIM

1

up 7 bps sequentially and year-

over-year

•

Adjusted NII

1

up $2 million sequentially and $18

million year-over-year

•

Tightly-managed

noninterest expenses; up 3%

sequentially and flat year-over-year

Expenses up <1% sequentially excluding $18

million expense pulled forward due to

change in LTI grant date

•

Overall solid credit quality in-line with

expectations

•

Executing on North Star initiatives

1Q17 highlights

1

Non-GAAP measure: See Reg

G reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

See page 4

of the presentation for impact of certain items

Diluted Earnings

Per Share

$0.38

Included net neutral impact from

certain items

2

Net Income to

Common

$290 million

LCR

119%

4

© Fifth Third Bancorp | All Rights Reserved

Pre-tax items included in 1Q17

results had a net neutral EPS

impact:

A $13 million pre-tax (~$8

million

after-tax)

²

charge

related to the valuation of the

Visa total return swap

A $12 million pre-tax (~$8

million

after-tax)

²

benefit

related to the revision to the

4Q16 estimated charge to net

interest income for refunds to

certain bankcard customers

Credit trends

NCO ratio of 40 bps, up 9 bps

sequentially and down 2 bps

year-over-year

Portfolio NPA ratio of 79 bps,

down 1 bp

sequentially and

down 9 bps year-over-year

1Q17 in review

1

Non-GAAP measure: See Reg

G reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

Assumes a 35% tax rate

($ in millions)

Average Balances

Total loans & leases (ex HFS)

$92,146

(1%)

(1%)

Core deposits

$100,845

-

2%

Income Statement Data

Net interest income (FTE)

1

939

3%

3%

Provision for loan and lease losses

74

37%

(38%)

Noninterest income

523

(16%)

(18%)

Noninterest expense

986

3%

-

Net income attributable to Bancorp

$305

(23%)

(6%)

Net income available to common

shareholders

$290

(22%)

(7%)

Financial Ratios

Earnings per share, diluted

$0.38

(22%)

(5%)

Net interest margin (FTE)

1

3.02%

16bps

11bps

Efficiency ratio (FTE)

1

67.4%

460bps

360bps

Return on average assets

0.88%

(23bps)

(5bps)

Return on average common equity

7.8%

(190bps)

(50bps)

Return on average tangible common equity

1

9.3%

(230bps)

(60bps)

Tangible book value per share

1

$16.89

2%

3%

5

© Fifth Third Bancorp | All Rights Reserved

Current Outlook:

$94.7

$94.9

$94.9

$97.0

$97.0

94%

95%

95%

92%

91%

1Q16

2Q16

3Q16

4Q16

1Q17

$29.7

$30.1

$29.8

$30.8

$31.9

1Q16

2Q16

3Q16

4Q16

1Q17

Balance sheet

Loan

&

lease

balances

¹

($ billions)

Transaction deposits flat vs. 4Q16; up 2%

YoY, driven by increased:

Interest checking

Consumer money market

Average loan-to-core deposit ratio of 91%

Modified LCR of 119% at 1Q17

Core

deposit

balances

¹

($ billions)

$100.8

$98.7

Securities and

short-term

investments

¹

($ billions)

Average securities up $2.2B YoY

driven by:

Opportunistically deployed cash

in 4Q16 and 1Q17 at more

attractive entry points than those

experienced prior to the U.S.

presidential election

Securities portfolio / total assets of

22.7% compared to 21.0% in 1Q16

$31.7

$32.6

$31.6

$32.0

1

All balances are on an average basis; loans balances exclude HFS

$33.2

Commercial down 1% vs. 4Q16; down 1%

YoY

C&I down 2% vs. 4Q16 and 3% YoY

CRE up 1% vs. 4Q16 and 7% YoY

Consumer down 1% vs. 4Q16; down 2%

YoY

Auto down 4% vs. 4Q16 and 13% YoY

HE down 3% vs. 4Q16 and 8% YoY

Mortgage up 2% vs. 4Q16 and 10% YoY

$100.9

$98.9

$99.0

Transaction

Other time

Loan-to-core

deposit ratio

Short-term investments

Average securities

FY: ~2% commercial loan growth (EOP), including impact of $900 million of remaining exits expected in 2017

FY: mid-single digit consumer & mortgage loan growth (EOP), excluding auto balances

$93.3

$93.9

$93.5

$93.0

$92.1

1Q16

2Q16

3Q16

4Q16

1Q17

6

© Fifth Third Bancorp | All Rights Reserved

Net interest income

1

Non-GAAP measure: See Reg

G reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on page 32 of the earnings release

$925

Adjusted

1

NII & NIM performance driven

by:

Improved short-term market rates

Adjusted NII up $18 million

Adjusted NIM up 7 bps

1Q17 vs. 4Q16

1Q17 vs. 1Q16

Adjusted

1

NII & NIM performance driven

by:

Improved short-term market rates

Lower wholesale funding balances

Day count  (-$13mm, +2 bps)

Adjusted NII up $2 million and adjusted

NIM up 7 bps

FY: NII (FTE) up 4 -

5%;  Adj. NIM at high end of 2.95 –

3.00% range (w/ September & December rate hikes)

Q2: NII (FTE) up 1 -

1.5% sequentially from adjusted NII; NIM up ~2 basis points from adjusted NIM

Current Outlook

1

:

$909

$908

$913

$909

2.91%

2.88%

2.88%

2.86%

3.02%

2.98%

1Q16

2Q16

3Q16

4Q16

1Q17

NII and NIM (FTE)

1

($ millions)

NII

Adjusted NII

NIM

Adjusted NIM

$939

$927

2.91%

7

© Fifth Third Bancorp | All Rights Reserved

•

Adjusted

1

noninterest income down $42

million, or 7%; driven by:

Mortgage banking net revenue and

lease remarketing impairment

Partially offset by increase in wealth

& asset and capital markets revenue

FY adjusted: up 3%, excluding mortgage

Q2 adjusted: up 8%, excluding mortgage

Noninterest income

1

Non-GAAP measure: See Reg

G reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

2016 excludes all items shown on page 21 of this presentation, and excludes all mortgage banking net revenue (resulting in $2.1BN);

page

21

of

this presentation, and excludes all mortgage banking net revenue (resulting in $484 million).

•

Adjusted

1

noninterest income down $72

million, or 12%; driven by:

4Q16 TRA payment, mortgage banking

net revenue, and lease remarketing

impairment

Partially offset by increase in wealth &

asset and capital markets revenue

1Q17 vs. 4Q16

1Q17 vs. 1Q16

1

Current Outlook

1,2

:

$637

$599

$840

$620

$523

$578

$602

$596

$608

$536

1Q16

2Q16

3Q16

4Q16

1Q17

Noninterest income

($ millions)

Noninterest income

Adjusted noninterest income

Q1

2017

excludes

all

items

shown

on

8

© Fifth Third Bancorp | All Rights Reserved

Noninterest expense

1

Non-GAAP measure: See Reg

G reconciliation on pages 20 and 22 of this presentation and use of non-GAAP measures on page 32 of the earnings release

FY: ~1% annual growth

Q2: flat versus 2Q16

•

Noninterest expense up 3%; driven by:

Seasonally higher compensation-

related expenses, and $18mm in

expense pulled forward due to

change in LTI grant date

Partially offset by diligent expense

management throughout the bank

1Q17 vs. 4Q16

1Q17 vs. 1Q16

•

Noninterest

expense

flat;

driven

by:

Lower losses and adjustments

Lower card and processing expense

due to contract renegotiations

1

Current Outlook:

$986

$983

$973

$960

$986

$971

$971

$966

$951

$985

1Q16

2Q16

3Q16

4Q16

1Q17

Noninterest expense

Adjusted noninterest expense

Noninterest expense

($ millions)

9

© Fifth Third Bancorp | All Rights Reserved

•

1Q17 net charge-offs of 0.40%, up 9 bps from

4Q16 and down 2 bps from 1Q16

•

1Q17 portfolio NPAs down $17MM from 4Q16

and $104MM from 1Q16

•

1Q17 criticized assets relatively flat

•

1Q17 allowance for loan & lease losses of

1.35% down 1 bp

sequentially

Credit quality overview

NCOs range-bound with potential quarterly variability

Provision reflective of loan growth

$96

$87

$107

$73

$89

Current Outlook:

$54

$46

$63

$28

$42

$42

$41

$44

$45

$47

0.42%

0.37%

0.45%

0.31%

0.40%

1Q16

2Q16

3Q16

4Q16

1Q17

Net charge-offs

($ millions)

Commercial

Consumer

Total NCO Ratio

$611

$602

$513

$564

$558

$214

$203

$185

$174

$163

0.88%

0.86%

0.75%

0.80%

0.79%

$825

$805

$698

$738

$721

1Q16

2Q16

3Q16

4Q16

1Q17

Commercial

Consumer

Total NPA Ratio

HFI non-performing assets

($ millions)

$1,295

$1,299

$1,272

$1,253

$1,238

1.38%

1.38%

1.37%

1.36%

1.35%

1Q16

2Q16

3Q16

4Q16

1Q17

Reserve coverage

($ millions)

Allowance for Loan & Lease Losses (ALLL)

ALLL / Loans and Leases

10

© Fifth Third Bancorp | All Rights Reserved

Strong capital and liquidity position

1

Current period regulatory capital ratios are estimated

Capital Update

CET1 strong and improved to 10.76%, up 37 bps sequentially and 95 bps from 1Q16

Tier I risk-based capital 11.90%; Total risk-based capital 15.45%; Leverage 10.15%

Potentially over 100 bps in after-tax benefit from remaining Vantiv stake

2017 CCAR request supportive of stronger levels of capital return to shareholders

Liquidity Update

Modified LCR of 119% in 1Q17

9.81%

9.94%

10.17%

10.39%

10.76%

1Q16

2Q16

3Q16

4Q16

1Q17

Common Equity Tier 1 Ratio (Basel III)

1

11

© Fifth Third Bancorp | All Rights Reserved

Current outlook

1

Non-GAAP measure: See Reg

G reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

2016 excludes all items shown on page 21 of this presentation, and excludes all mortgage banking net revenue (resulting in $2.1BN); Q1 2017 excludes all items shown on page 21 of this

presentation, and excludes all mortgage banking net revenue (resulting in $484 million).

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 April 25, 2017;

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

Total loans & leases

(EOP excl. HFS)

Net interest income (FTE)

1

Net interest margin (FTE)

1

Noninterest income

1,2

Noninterest expense

Effective tax rate

Credit items

•

FY 2017: ~2% commercial loan growth, incl. impact of $900 million of remaining exits in 2017

•

FY 2017: mid-single digit consumer & mortgage loan growth, excluding auto balances

•

FY 2017: Up 4 –

5% (higher-end w/ September & December hikes)

•

Q2 2017: Up 1 –

1.5% sequentially from the adjusted NII of $927 million

•

FY 2017: 2.95% -

3.00% on an adjusted basis (higher-end w/ September & December hikes)

•

Q2 2017: Up ~2 bps from the adjusted NIM of 2.98%

•

FY 2017

adjusted: up 3%, excluding mortgage

•

Q2 2017 adjusted: up 8%, excluding mortgage

mortgage revenue excluded given volatility from significant increase in interest rates at the end of 2016

•

FY 2017: ~1% annual growth

•

Q2 2017: flat versus Q2 2016

•

FY 2017: mid 24% range

•

Q2 2017: 25% range

assumes no Federal corporate tax rate change

•

NCOs range-bound with potential quarterly variability

•

Provision reflective of loan growth

12

© Fifth Third Bancorp | All Rights Reserved

Appendix

13

© Fifth Third Bancorp | All Rights Reserved

PPNR and efficiency ratio trends

1

1

Non-GAAP measures: See Reg

G reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

Prior quarters include similar adjustments

•

Adjusted PPNR down 18% vs. 4Q16 driven by:

–

Vantiv TRA payment in 4Q16

–

Mortgage banking net revenue

–

Seasonal expenses and $18MM LTI impact

–

Lease remarketing impairment

•

Adjusted PPNR down 7% YoY

–

Mortgage banking net revenue

–

Lease remarketing impairment

–

Offset by improvement in NII

63.8%

65.3%

55.5%

62.8%

67.4%

65.3%

64.3%

64.0%

62.0%

67.3%

1Q16

2Q16

3Q16

4Q16

1Q17

Efficiency ratio

Efficiency Ratio

Adjusted Efficiency Ratio

($ in millions)

1Q16

2Q16

3Q16

4Q16

1Q17

Net interest income (FTE)

$909

$908

$913

$909

$939

Add: Noninterest income

637

599

840

620

523

Less: Noninterest expense

986

983

973

960

986

Pre-provision net revenue

$560

$524

$780

$569

$476

Adjustments to remove (benefit) / detriment

In net interest income:

Bankcard refunds

-

-

-

16

(12)

In noninterest income:

Gain on Vantiv

warrant actions

-

-

-

(9)

-

Vantiv TRA settlement payment

-

-

-

-

-

Gain from termination and settlement of Vantiv TRA

-

-

(280)

-

-

Gain on sale from the sale of a non-branch facility

-

-

(11)

-

-

Branch and land valuation adjustments

-

-

28

-

-

Valuation of 2009 Visa total return swap

(1)

50

12

(6)

13

Transfer of nonconforming investments under Volcker to HFS

-

-

9

-

-

Vantiv warrant valuation

(47)

(19)

2

-

-

Gain on sale of certain branches

(8)

(11)

-

-

-

Gain on sale of the agented bankcard loan portfolio

-

(11)

-

-

-

Securities (gains) / losses

(3)

(6)

(4)

3

-

In noninterest expense:

Contribution to Fifth Third Foundation

-

-

3

5

-

Severance expense

15

3

4

4

1

Retirement eligibility changes

-

9

-

-

-

Adjusted PPNR

$516

$539

$543

$582

$478

PPNR reconciliation

$516

$539

$543

$582

$478

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

$1,100

1Q16

2Q16

3Q16

4Q16

1Q17

PPNR trend

($ millions)

Adjusted PPNR

Reported PPNR

2

:

14

© Fifth Third Bancorp | All Rights Reserved

Strong liquidity profile

1

Available and contingent borrowing capacity (1Q17): FHLB ~$12.0B available, ~$14.5B total; Federal Reserve ~$32.0B

Holding

Company:

Modified LCR of 119%

Holding Company cash at March 31, 2017: $2.1B

Cash currently sufficient to satisfy all fixed obligations in a stressed

environment for ~23 months (debt maturities, common and preferred

dividends, interest and other expenses) without accessing capital

markets, relying on dividends from subsidiaries or other actions

$500MM

of debt matured in 1Q17. We intend to issue debt from the

Holding Company in 2017.

Bank Entity:

There were no debt maturities at the Bank in 1Q17

The Bank did not issue any additional debt in 1Q17

2017

Funding

Plans:

$650MM of debt at the Bank will mature in 2Q17

Fifth Third would not be required to replace 2017 debt maturities to

maintain our current senior debt ratings under the Moody’s LGF

methodology

Any additional debt issuance in 2017 would result from general balance

sheet management and prudent liquidity risk management

S-T

wholesale

3%

$500

$500

$500

$1,100

$2,312

2017

2018

2019

2020

2021

2022 on

Fifth Third Bancorp

First Charter Capital Trust

Holding company unsecured debt maturities

($ millions)

$650

$1,850

$2,600

$2,100

$750

2017

2018

2019

2020

2021

2022 on

Bank unsecured debt maturities

($

millions –

excl. Retail Brokered & Institutional CDs)

1

1

The $500MM matured in 1Q17

Demand

25%

Interest

checking

19%

Savings/

MMDA

25%

Consumer

time

3%

Foreign

Office

0%

Non-Core

Deposits

2%

S-T

borrowings

1%

Other

liabilities

3%

Equity

12%

L-T debt

10%

Heavily core funded as of 03/31/2017

15

© Fifth Third Bancorp | All Rights Reserved

Balance sheet positioning

Commercial

loans

1,2

Investment

portfolio

Consumer

loans

Data as of 03/31/17

1

Includes HFS loans & leases

2

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

3

Fifth

Third

had

$2.96B

3ML

receive-fix

swaps

outstanding

against

long-term

debt,

which

are

being

included

in

floating,

long-term

debt

with

swaps

outstanding

reflected

at

fair

value

•

Fixed: $14.1B

1, 2

•

Float: $42.3B

1, 2

•

1ML based: 62%

(of total commercial)

•

3ML based: 8%  (of total commercial)

•

Prime based: 4% (of total commercial)

•

Weighted avg. life: 1.74 years

•

52% allocation to bullet/locked-out

cash flow securities

•

Investment portfolio yield: 3.11%

•

Duration: 5.0 years

•

Net unrealized pre-tax gain: $188MM

•

98% AFS

•

Fixed: $25.2B

1

•

Float: $10.6B

1

•

Prime based: 23% (of total consumer)

•

Weighted avg. life: 3.83 years

•

Auto weighted avg. life: 1.38 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

/other

76% Fix  /  24% Float

C&I

20% Fix  /  80% Float

Commercial

mortgage

23% Fix  /  77% Float

4% Fix  /  96% Float

Commercial

construction

100% Fix  /  0% Float

Commercial

lease

Resi

mtg

&

construction

90% Fix  /  10% Float

Auto

99% Fix  /  1% Float

8% Fix  /  92% Float

Home equity

31% Fix  /  69% Float

Credit card

10% Fix  /  90% Float

Other

•

Fixed: $10.1B

3

•

Float: $3.5B

3

•

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

•

3ML based: 26%  (of total long term debt)

•

Weighted avg. life: 4.37 years

Senior debt

76% Fix  /  24% Float

Sub debt

64% Fix  /  36% Float

99% Fix  /  1% Float

Auto securiz.

proceeds

0% Fix  /  100% Float

TRUPS

100% Fix  /  0% Float

Other

35%

45%

20%

0

73%

12%

8%

7%

0

21%

27%

2%

6%

44%

68%

24%

6%

1%

<1%

1

16

© Fifth Third Bancorp | All Rights Reserved

Interest rate risk management

Data as of 03/31/17

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 considering impacts of interest rate swaps (75% of

total commercial and 30%

of total consumer)

–

Investment portfolio duration of 5.0 years

–

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

–

Approximately $11 billion 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 $2.5 billion (about 10%) for each 100 bps

increase in rates

–

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

Change in Interest Rates (bps)

+200 Shock

Change in Interest Rates (bps)

+100 Shock

+200 Ramp over 12 months

2.05%

6.98%

(4.00%)

(6.00%)

+25 Shock

+100 Ramp over 12 months

1.20%

4.37%

-

-

-100 Shock

-50 Ramp over 6 months

(3.48%)

(6.37%)

(6.00%)

(8.00%)

Betas 25% Higher

Betas 25% Lower

Change in Interest Rates (bps)

12

Months

13-24

Months

12

Months

13-24

Months

Change in Interest Rates (bps)

12

Months

13-24

Months

12

Months

13-24

Months

+200 Ramp over 12 months

1.79%

6.45%

2.31%

7.50%

+200 Ramp over 12 months

(0.96%)

0.95%

5.06%

13.00%

+100 Ramp over 12 months

1.07%

4.11%

1.33%

4.64%

+100 Ramp over 12 months

(0.30%)

1.36%

2.71%

7.39%

(12.00%)

% Change in NII (FTE)

$1B Balance Decrease

$1B Balance Increase

(5.45%)

-

-

-

Estimated NII Sensivity with Deposit Beta Changes

(2.21%)

(0.40%)

(0.19%)

12

Months

Estimated NII Sensitivity with Demand Deposit Balance Changes

% Change in NII (FTE)

13-24

Months

12

Months

13-24   

Months

Estimated NII Sensitivity Profile and ALCO Policy Limits

Estimated EVE Sensitivity Profile and ALCO Policy Limits

% Change in

NII (FTE)

ALCO Policy Limits

Change in EVE

ALCO Policy Limit

17

© Fifth Third Bancorp | All Rights Reserved

Mortgage banking results

•

$1.9B in originations, up 10% YoY; 51% purchase volume

•

1Q17 mortgage banking drivers:

–

Origination fees and gain on sale revenue down $1MM, or 3%, sequentially

–

Gain on sale margin up 29 bps sequentially

–

Net MSR valuation adjustments of positive $3MM; servicing rights amortization of $27MM

–

$47MM in gross servicing fees

•

YoY decline in mortgage banking revenue driven primarily by lower origination fees and gains

on loan sales

•

Purchased $2.4 billion MSR portfolio in 1Q 2017

1

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

$1.06

$1.70

$1.79

$1.66

$1.25

$0.70

$1.05

$1.09

$1.06

$0.68

3.47%

2.62%

3.01%

1.69%

1.98%

1Q16

2Q16

3Q16

4Q16

1Q17

Originations for sale

Originations HFI

Margin

Mortgage

originations

and

gain-on-sale

margins

1

($ billions)

42

54

61

30

29

52

50

49

48

47

(27)

(35)

(35)

(35)

(27)

11

6

(9)

23

3

1Q16

2Q16

3Q16

4Q16

1Q17

Mortgage banking revenue

($ millions)

Orig

fees and gains on loan sales

Gross servicing fees

Net MSR valuation adjustments

Servicing rights amortization

18

© Fifth Third Bancorp | All Rights Reserved

NPL rollforward

NPL HFI Rollforward

Commercial

1Q16

2Q16

3Q16

4Q16

1Q17

341

$        

543

$        

539

$        

460

$        

523

$        

Transfers to nonaccrual status

306

104

145

161

128

Transfers to accrual status

(3)

(6)

-

(4)

-

Transfers from held for sale

-

-

-

-

-

Transfers to held for sale

(3)

-

(36)

(3)

(3)

Loans sold from portfolio

(6)

(2)

(3)

-

-

Loan paydowns/payoffs

(39)

(52)

(112)

(53)

(80)

Transfers to OREO

(1)

(3)

(1)

(3)

(2)

Charge-offs

(60)

(51)

(81)

(40)

(46)

Draws/other extensions of credit

8

6

9

5

3

543

$        

539

$        

460

$        

523

$        

523

$        

Consumer

1Q16

2Q16

3Q16

4Q16

1Q17

165

$        

158

$        

154

$        

141

$        

137

$        

Transfers to nonaccrual status

55

56

45

44

42

Transfers to accrual status

(33)

(31)

(28)

(21)

(19)

Transfers from held for sale

-

-

-

-

-

Transfers to held for sale

-

-

-

-

-

Loans sold from portfolio

-

-

-

-

-

Loan paydowns/payoffs

(9)

(11)

(10)

(8)

(10)

Transfers to OREO

(6)

(7)

(7)

(5)

(4)

Charge-offs

(14)

(11)

(13)

(14)

(12)

Draws/other extensions of credit

-

-

-

-

-

158

$        

154

$        

141

$        

137

$        

134

$        

Total NPL

701

$        

693

$        

601

$        

660

$        

657

$        

Total new nonaccrual loans - HFI

361

$        

160

$        

190

$        

205

$        

170

$        

Beginning NPL amount

Ending Commercial NPL

Beginning NPL amount

Ending Consumer NPL

19

© Fifth Third Bancorp | All Rights Reserved

($ in millions)

1Q16

2Q16

3Q16

4Q16

1Q17

EOP Balance*

$3,428

$3,706

$3,905

$3,903

$4,283

Avg Balance*

$3,297

$3,551

$3,848

$3,890

$3,987

NPAs*

$8

$7

$5

-

-

as % of loans

0.23%

0.19%

0.13%

NM

NM

Net charge-offs

-

-

-

-

-

as % of loans

(0.06%)

NM

NM

NM

NM

Commercial construction

Residential Mortgage

Commercial & Industrial

Home Equity & Automobile

Commercial Real Estate

*Excludes loans held-for-sale

($ in millions)

1Q16

2Q16

3Q16

4Q16

1Q17

EOP Balance*

$8,112

$7,988

$7,864

$7,695

$7,469

Avg Balance*

$8,217

$8,054

$7,918

$7,779

$7,581

90+ days delinquent

-

-

-

-

-

as % of loans

NM

NM

NM

NM

NM

Net charge-offs

$8

$6

$7

$6

$6

as % of loans

0.36%

0.30%

0.32%

0.35%

0.33%

Home equity

($ in millions)

1Q16

2Q16

3Q16

4Q16

1Q17

EOP Balance*

$11,128

$10,671

$10,349

$9,983

$9,572

Avg Balance*

$11,283

$10,887

$10,508

$10,162

$9,786

90+ days delinquent

$8

$7

$8

$9

$6

as % of loans

0.07%

0.07%

0.08%

0.09%

0.06%

Net charge-offs

$9

$8

$9

$11

$11

as % of loans

0.32%

0.26%

0.35%

0.40%

0.48%

Automobile

($ in millions)

1Q16

2Q16

3Q16

4Q16

1Q17

EOP Balance*

$13,895

$14,307

$14,643

$15,051

$15,336

Avg Balance*

$13,788

$14,046

$14,455

$14,854

$15,200

90+ days delinquent

$44

$38

$43

$49

$45

as % of loans

0.32%

0.27%

0.29%

0.33%

0.29%

NPAs*

$77

$69

$58

$53

$48

as % of loans

0.55%

0.48%

0.40%

0.35%

0.31%

Net charge-offs

$2

$2

$2

$2

$5

as % of loans

0.07%

0.06%

0.07%

0.06%

0.13%

Residential mortgage

($ in millions)

1Q16

2Q16

3Q16

4Q16

1Q17

EOP Balance*

$43,433

$43,558

$42,727

$41,676

$41,074

Avg Balance*

$43,089

$43,876

$43,116

$42,548

$41,854

90+ days delinquent

$3

$2

$7

$4

$3

as % of loans

0.01%

NM

0.02%

0.01%

0.01%

NPAs*

$473

$477

$419

$488

$490

as % of loans

1.09%

1.10%

0.98%

1.17%

1.19%

Net charge-offs

$46

$39

$61

$25

$36

as % of loans

0.43%

0.36%

0.56%

0.24%

0.34%

C&I

Credit trends

($ in millions)

1Q16

2Q16

3Q16

4Q16

1Q17

EOP Balance*

$6,864

$6,875

$6,856

$6,899

$6,924

Avg Balance*

$6,886

$6,831

$6,888

$6,957

$6,941

NPAs*

$126

$114

$86

$72

$64

as % of loans

1.84%

1.66%

1.25%

1.04%

0.92%

Net charge-offs

$6

$6

$2

$2

$5

as % of loans

0.35%

0.38%

0.08%

0.11%

0.29%

Commercial mortgage

20

© Fifth Third Bancorp | All Rights Reserved

Regulation G non-GAAP reconciliation

See page 32 of the earnings release for a discussion on the use of non-GAAP financial measures

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

March

December

September

June

March

2017

2016

2016

2016

2016

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

$290

$372

$501

$305

$311

Add:

Intangible amortization, net of tax

-

-

-

-

-

Tangible net income available to common shareholders

$290

$372

$501

$305

$311

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

$1,176

$1,480

$1,993

$1,227

$1,251

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

$16,429

$16,545

$16,883

$16,584

$16,376

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

(11)

(10)

(10)

(11)

(12)

Average tangible common equity (b)

$12,671

$12,788

$13,126

$12,826

$12,617

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

$16,430

$16,205

$16,776

$16,726

$16,323

Less: 

Preferred stock

(1,331)

(1,331)

(1,331)

(1,331)

(1,331)

Goodwill

(2,419)

(2,416)

(2,416)

(2,416)

(2,416)

Intangible assets and other servicing rights

(11)

(10)

(10)

(11)

(12)

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

$12,669

$12,448

$13,019

$12,968

$12,564

Less:

Accumulated other comprehensive income

(68)

(59)

(755)

(889)

(684)

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

$12,601

$12,389

$12,264

$12,079

$11,880

Total assets (U.S. GAAP)

$140,200

$142,177

$143,279

$143,625

$142,430

Less: 

Goodwill

(2,419)

(2,416)

(2,416)

(2,416)

(2,416)

Intangible assets and other servicing rights

(11)

(10)

(10)

(11)

(12)

Tangible assets, including unrealized gains / losses (e)

$137,770

$139,751

$140,853

$141,198

$140,002

Less:

Accumulated other comprehensive income / loss, before tax

(105)

(91)

(1,162)

(1,368)

(1,052)

Tangible assets, excluding unrealized gains / losses (f)

$137,665

$139,660

$139,691

$139,830

$138,950

Common shares outstanding (g)

750

750

756

766

770

Ratios:

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

9.3%

11.6%

15.2%

9.6%

9.9%

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

9.15%

8.87%

8.78%

8.64%

8.55%

Tangible common equity (including unrealized gains/losses) (c) / (e)

9.20%

8.91%

9.24%

9.18%

8.97%

Tangible book value per share (c) / (g)

$16.89

$16.60

$17.22

$16.93

$16.32

For the Three Months Ended

21

© Fifth Third Bancorp | All Rights Reserved

Regulation G non-GAAP reconciliation

See page 32 of the earnings release for a discussion on the use of non-GAAP financial measures

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

March

December

September

June

March

2017

2016

2016

2016

2016

CET 1 capital (transitional)

$12,636

$12,426

$12,299

$12,112

$11,914

Less:

Adjustments to CET 1 capital from transitional to fully phased-in (1)

(2)

(4)

(4)

(4)

(5)

CET 1 capital (fully phased-in) (h)

12,634

12,422

12,295

12,108

11,909

Risk-weighted assets (transitional)

117,407

119,632

120,954

121,824

121,432

Add:

Adjustments to risk-weighted assets from transitional to fully phased-in (2)

1,164

1,115

929

932

1,027

Risk-weighted assets (fully phased-in) (i)

$118,571

$120,747

$121,883

$122,756

$122,459

Estimated CET 1 capital ratio under Basel III Final Rule (fully phased-in) (h) / (i)

10.66%

10.29%

10.09%

9.86%

9.72%

(1)

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

(2)

Primarily relates to higher risk-weighting for MSRs

Net interest income (U.S. GAAP)

$933

$903

$907

$902

$903

Add:

FTE Adjustment

6

6

6

6

6

Net interest income (FTE) (j)

$939

$909

$913

$908

$909

Net interest income (FTE) (annualized) (k)

$3,808

$3,616

$3,632

$3,652

$3,656

Net interest income (FTE)

$939

$909

$913

$908

$909

Bankcard refunds / (reversal)

(12)

16

-

-

-

Adjusted net interest income (FTE) (l)

$927

$925

$913

$908

$909

Adjusted net interest income (FTE) (annualized) (m)

$3,760

$3,680

$3,632

$3,652

$3,656

Noninterest income (U.S. GAAP) (n)

$523

$620

$840

$599

$637

Gain on Vantiv warrant actions

-

(9)

-

-

-

Vantiv TRA-related transactions

-

-

(280)

-

-

Gain from the sale of a non-branch facility

-

-

(11)

-

-

Branch / land impairment charge

-

-

28

-

-

Valuation of 2009 Visa total return swap

13

(6)

12

50

(1)

Transfer of certain nonconforming investments under Volcker to held-for-sale

-

-

9

-

-

Vantiv warrant valuation

-

-

2

(19)

(47)

Gain on sale of certain branches

-

-

-

(11)

(8)

Gain on sale of the non-strategic agented bankcard loan portfolio

-

-

-

(11)

-

Securities (gains) / losses

-

3

(4)

(6)

(3)

Adjusted noninterest income (o)

$536

$608

$596

$602

$578

Noninterest expense (U.S. GAAP) (p)

$986

$960

$973

$983

$986

Contribution for Fifth Third Foundation

-

(5)

(3)

-

-

Severance expense

(1)

(4)

(4)

(3)

(15)

Retirement eligibility changes

-

-

-

(9)

-

Adjusted noninterest expense (q)

$985

$951

$966

$971

$971

Average interest-earning assets (r)

125,968

126,548

126,092

126,847

125,651

Ratios:

Net interest margin (k) / (r)

3.02%

2.86%

2.88%

2.88%

2.91%

Adjusted net interest margin (m) / (r)

2.98%

2.91%

2.88%

2.88%

2.91%

Efficiency ratio (p) / [(n) + (j)]

67.4%

62.8%

55.5%

65.3%

63.8%

Adjusted efficiency ratio (q) / [(o) + (l)]

67.3%

62.0%

64.0%

64.3%

65.3%

For the Three Months Ended

EX-99.3

Exhibit 99.3

April 2017

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

1

Quarterly Data

	Three Months Ended
	March		December		September		June		March		December		September		June
	2017		2016		2016(e)		2016(e)		2016(e)		2015		2015		2015
Ratios (percent)
Return on average assets		0.88		1.11		1.44		0.92		0.93		1.83		1.07		0.90
Return on average common equity		7.8		9.7		12.8		8.0		8.3		17.2		10.0		8.1
Average total Bancorp shareholders’ equity as a percent of average assets		11.72		11.66		11.83		11.60		11.57		11.26		11.24		11.32
Taxable equivalent net interest margin(a)(d)		3.02		2.86		2.88		2.88		2.91		2.85		2.89		2.90
Taxable equivalent efficiency(a)(d)		67.4		62.8		55.5		65.3		63.8		48.0		58.2		65.4
Net losses charged-off as a percent of average portfolio loans and leases		0.40		0.31		0.45		0.37		0.42		0.34		0.80		0.37
ALLL as a percent of portfolio loans and leases		1.35		1.36		1.37		1.38		1.38		1.37		1.35		1.39
Allowance for credit losses as a percent of portfolio loans and leases(c)		1.52		1.54		1.54		1.54		1.54		1.52		1.49		1.54
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(b)		0.79		0.80		0.75		0.86		0.88		0.70		0.65		0.67
Allowance for loan and lease losses as a percent of nonperforming assets(b)		172		170		182		161		157		197		208		206
Allowance for credit losses as a percent of nonperforming assets(b)		194		192		205		180		174		218		230		228
Common Share Data
Earnings per share - basic	$	0.38	$	0.49	$	0.66	$	0.40	$	0.40	$	0.80	$	0.46	$	0.36
Earnings per share - diluted	$	0.38	$	0.49	$	0.65	$	0.39	$	0.40	$	0.79	$	0.45	$	0.36
Cash dividends per common share		0.14		0.14		0.13		0.13		0.13		0.13		0.13		0.13
Book value per share		20.13		19.82		20.44		20.09		19.46		18.48		18.22		17.62
Common shares outstanding, excluding treasury		750,144,587		750,479,299		755,582,255		766,345,770		770,470,768		785,080,314		795,439,309		810,054,148
Market price per share:
High	$	28.75	$	27.79	$	20.92	$	19.30	$	19.61	$	21.06	$	21.71	$	21.69
Low		24.73		19.58		16.70		16.13		13.94		18.28		18.23		18.91
End of period		25.40		26.97		20.46		17.59		16.69		20.10		18.91		20.82
Supplemental Data
Common dividends declared ($ in millions)	$	106	$	106	$	99	$	100	$	100	$	102	$	103	$	105
Full-time equivalent employees		17,763		17,844		18,072		18,051		18,200		18,261		18,311		18,527
Banking centers		1,155		1,191		1,191		1,191		1,241		1,254		1,295		1,299
ATMs		2,471		2,495		2,497		2,514		2,556		2,593		2,650		2,630

(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.

(e) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Page 2

Quarterly Data

	Three Months Ended
	March		December		September		June		March		December		September		June
	2017		2016		2016(e)		2016(e)		2016(e)		2015		2015		2015
Income Statement ($ in millions)
Interest income (taxable equivalent)(d)	$	1,092	$	1,058	$	1,063	$	1,052	$	1,044	$	1,035	$	1,031	$	1,008
Interest expense		153		149		150		144		135		131		125		116
Net interest income (taxable equivalent)(d)		939		909		913		908		909		904		906		892
Provision for loan and lease losses		74		54		80		91		119		91		156		79
Noninterest income:
Service charges on deposits		138		141		143		138		137		144		145		139
Wealth and asset management revenue		108		100		101		101		102		102		103		105
Corporate banking revenue		74		101		111		117		102		104		104		113
Mortgage banking net revenue		52		65		66		75		78		74		71		117
Card and processing revenue		74		79		79		82		79		77		77		77
Other noninterest income		77		137		336		80		136		602		213		1
Securities gains, net		—		(3)		4		6		3		1		—		4
Total noninterest income		523		620		840		599		637		1,104		713		556
Noninterest expense:
Salaries, wages and incentives		411		403		400		407		403		386		387		383
Employee benefits		111		76		78		85		100		74		72		78
Net occupancy expense		78		73		73		75		77		83		77		83
Technology and communications		58		56		62		60		56		59		56		54
Equipment expense		28		29		29		30		30		32		31		31
Card and processing expense		30		31		30		37		35		40		40		38
Other noninterest expense		270		292		301		289		285		289		280		280
Total noninterest expense		986		960		973		983		986		963		943		947
Income before income taxes (taxable equivalent)(d)		402		515		700		433		441		954		520		422
Taxable equivalent adjustment		6		6		6		6		6		5		5		5
Income before income taxes		396		509		694		427		435		949		515		417
Applicable income tax expense		91		114		178		103		109		292		134		108
Net income	$	305	$	395	$	516	$	324	$	326	$	657	$	381	$	309
Less: Net income attributable to noncontrolling interests		—		—		—		(4)		—		—		—		(6)
Net income attributable to Bancorp	$	305	$	395	$	516	$	328	$	326	$	657	$	381	$	315
Dividends on preferred stock		15		23		15		23		15		23		15		23
Net income available to common shareholders	$	290	$	372	$	501	$	305	$	311	$	634	$	366	$	292
Regulatory Capital Data ($ in millions)(a)	Basel III Transitional
CET1 capital	$	12,636	$	12,426	$	12,299	$	12,112	$	11,914	$	11,917	$	11,574	$	11,582
Additional tier I capital		1,331		1,330		1,331		1,331		1,330		1,343		1,340		1,340
Tier I capital	$	13,967	$	13,756	$	13,630	$	13,443	$	13,244	$	13,260	$	12,914	$	12,922
Tier II capital		4,172		4,216		4,374		4,414		4,553		3,874		3,935		3,909
Total regulatory capital	$	18,139	$	17,972	$	18,004	$	17,857	$	17,797	$	17,134	$	16,849	$	16,831
Risk-weighted assets(b)	$	117,407	$	119,632	$	120,954	$	121,824	$	121,432	$	121,290	$	123,148	$	122,986
CET1 capital ratio(b)		10.76%		10.39%		10.17%		9.94%		9.81%		9.82%		9.40%		9.42%
Tier I risk-based capital ratio(b)		11.90%		11.50%		11.27%		11.03%		10.91%		10.93%		10.49%		10.51%
Total risk-based capital ratio(b)		15.45%		15.02%		14.88%		14.66%		14.66%		14.13%		13.68%		13.69%
Tier I leverage ratio		10.15%		9.90%		9.80%		9.64%		9.57%		9.54%		9.38%		9.44%
CET1 capital ratio (fully phased-in)(b)(c)(d)		10.66%		10.29%		10.09%		9.86%		9.72%		9.72%		9.30%		9.31%

(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.

(e) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Page 3

Quarterly Data

	As of
	March		December		September		June		March		December		September		June
	2017		2016		2016(a)		2016(a)		2016(a)		2015		2015		2015
Balance Sheet ($ in millions, except share data)
Assets
Cash and due from banks	$	2,205	$	2,392	$	2,164	$	2,359	$	2,298	$	2,540	$	2,455	$	2,785
Available-for-sale and other securities		31,531		31,183		30,689		31,455		29,891		29,044		28,799		27,987
Held-to-maturity securities		26		26		56		62		64		70		157		157
Trading securities		689		410		431		401		405		386		374		370
Other short-term investments		1,644		2,754		2,995		1,818		1,778		2,671		1,994		3,451
Total cash and securities		36,095		36,765		36,335		36,095		34,436		34,711		33,779		34,750
Loans held for sale		616		751		1,060		877		803		903		994		995
Portfolio loans and leases		91,628		92,098		93,151		93,909		93,605		92,582		93,574		92,703
Total loans and leases		92,244		92,849		94,211		94,786		94,408		93,485		94,568		93,698
Allowance for loan and lease losses		(1,238)		(1,253)		(1,272)		(1,299)		(1,295)		(1,272)		(1,261)		(1,293)
Bank premises and equipment		2,052		2,065		2,084		2,144		2,185		2,239		2,264		2,298
Operating lease equipment		702		738		771		756		738		707		680		670
Goodwill		2,419		2,416		2,416		2,416		2,416		2,416		2,416		2,416
Intangible assets		11		9		10		10		11		12		13		13
Servicing rights		776		744		619		621		685		785		757		854
Other real estate owned		55		69		91		107		119		137		149		163
Other assets		7,084		7,775		8,014		7,989		8,727		7,828		8,518		8,059
Total assets	$	140,200	$	142,177	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883	$	141,628
Liabilities
Deposits:
Demand	$	35,362	$	35,782	$	35,625	$	36,137	$	35,858	$	36,267	$	34,832	$	35,449
Interest checking		27,230		26,679		24,483		24,571		25,182		26,768		24,832		27,074
Savings		14,360		13,941		14,019		14,356		14,738		14,601		14,632		14,976
Money market		20,585		20,749		19,910		19,125		19,377		18,494		18,887		17,900
Foreign office		521		426		518		453		441		464		754		728
Other time		3,750		3,866		3,971		4,021		4,049		4,019		4,041		4,050
Certificates - $100,000 and over		2,348		2,378		2,745		2,778		2,830		2,592		2,915		2,846
Other foreign office		—		—		—		430		—		—		—		—
Total deposits		104,156		103,821		101,271		101,871		102,475		103,205		100,893		103,023
Federal funds purchased		155		132		126		108		134		151		132		126
Other short-term borrowings		2,015		3,535		3,494		3,979		3,523		1,507		4,904		4,136
Other liabilities		3,759		4,069		4,694		4,682		4,638		4,505		4,604		5,214
Long-term debt		13,658		14,388		16,890		16,231		15,305		15,810		15,492		13,491
Total liabilities	$	123,743	$	125,945	$	126,475	$	126,871	$	126,075	$	125,178	$	126,025	$	125,990
Equity
Common and preferred equity	$	19,810	$	19,579	$	19,307	$	18,914	$	18,638	$	18,406	$	17,867	$	17,578
Net unrealized gains:
Available-for-sale securities		117		101		765		879		685		238		528		327
Qualifying cash flow hedges		2		10		48		70		61		22		58		29
Accumulated other comprehensive income related to employee benefit plans		(51)		(52)		(58)		(60)		(62)		(63)		(64)		(65)
Treasury stock, at cost		(3,448)		(3,433)		(3,286)		(3,077)		(2,999)		(2,764)		(2,563)		(2,264)
Total Bancorp shareholders’ equity		16,430		16,205		16,776		16,726		16,323		15,839		15,826		15,605
Noncontrolling interests		27		27		28		28		32		31		32		33
Total equity	$	16,457	$	16,232	$	16,804	$	16,754	$	16,355	$	15,870	$	15,858	$	15,638
Total liabilities and equity	$	140,200	$	142,177	$	143,279	$	143,625	$	142,430	$	141,048	$	141,883	$	141,628
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		750,144,587		750,479,299		755,582,255		766,345,770		770,470,768		785,080,314		795,439,309		810,054,148
Treasury shares held		173,747,994		173,413,282		168,310,326		157,546,811		153,421,813		138,812,267		128,453,272		113,838,433

(a) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Page 4

Quarterly Data

	Three Months Ended
	March		December		September		June		March		December		September		June
	2017		2016		2016(a)		2016(a)		2016(a)		2015		2015		2015
Average Balance Sheet ($ in millions, except share data)
Assets
Interest-earning assets:
Loans and leases	$	92,791	$	93,981	$	94,417	$	94,807	$	94,078	$	94,587	$	94,329	$	92,739
Taxable securities		31,815		30,677		29,772		30,002		29,619		28,951		28,251		27,344
Tax exempt securities		55		81		76		85		78		52		52		59
Other short-term investments		1,307		1,809		1,827		1,953		1,876		2,253		1,799		3,160
Total interest-earning assets		125,968		126,548		126,092		126,847		125,651		125,843		124,431		123,302
Cash and due from banks		2,205		2,358		2,289		2,228		2,335		2,466		2,503		2,636
Other assets		13,220		14,203		15,644		15,140		14,869		14,925		15,064		15,322
Allowance for loan and lease losses		(1,253)		(1,272)		(1,299)		(1,295)		(1,273)		(1,261)		(1,292)		(1,300)
Total assets	$	140,140	$	141,837	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	26,760	$	25,644	$	24,475	$	24,714	$	25,740	$	25,296	$	25,590	$	26,894
Savings deposits		14,117		13,979		14,232		14,576		14,601		14,615		14,868		15,156
Money market deposits		20,603		20,476		19,706		19,243		18,655		18,775		18,253		18,071
Foreign office deposits		454		497		524		484		483		736		718		955
Other time deposits		3,827		3,941		4,020		4,044		4,035		4,052		4,057		4,074
Certificates - $100,000 and over		2,579		2,539		2,768		2,819		2,815		3,305		2,924		2,558
Other deposits		162		115		749		467		—		7		222		—
Federal funds purchased		639		280		446		693		608		1,182		1,978		326
Other short-term borrowings		1,893		1,908		2,171		3,754		3,564		1,675		1,897		1,705
Long-term debt		13,856		15,173		16,102		15,351		14,949		15,738		14,664		13,741
Total interest-bearing liabilities		84,890		84,552		85,193		86,145		85,450		85,381		85,171		83,480
Demand deposits		35,084		36,412		35,918		35,912		35,201		36,254		35,231		35,384
Other liabilities		3,710		4,300		4,704		4,247		4,524		4,325		4,458		5,215
Total liabilities		123,684		125,264		125,815		126,304		125,175		125,960		124,860		124,079
Equity		16,456		16,573		16,911		16,616		16,407		16,013		15,846		15,881
Total liabilities and equity	$	140,140	$	141,837	$	142,726	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960
Average loans and leases (excluding held for sale)	$	92,146	$	92,964	$	93,511	$	93,931	$	93,275	$	93,594	$	93,373	$	92,173
Share Data
Average common shares outstanding - basic		747,667,521		746,367,302		750,885,834		759,105,385		773,564,178		784,855,006		795,792,825		803,965,057
Average common shares outstanding - diluted		760,809,239		757,704,190		757,855,877		764,811,003		777,757,934		794,481,388		805,022,588		812,842,540

(a) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

Page 5

Quarterly Data

	Three Months Ended
	March		December		September		June		March		December		September		June
	2017		2016		2016		2016		2016		2015		2015		2015
End of Period Loans and Leases ($ in millions)(net of unearned discount)
Commercial:
Commercial and industrial loans	$	41,076	$	41,736	$	42,829	$	43,575	$	43,441	$	42,151	$	42,970	$	42,812
Commercial mortgage loans		6,931		6,904		6,860		6,883		6,874		6,991		7,084		7,165
Commercial construction loans		4,283		3,903		3,905		3,706		3,428		3,214		3,101		2,709
Commercial leases		4,093		3,974		3,995		3,978		3,956		3,854		3,901		3,882
Total commercial loans and leases		56,383		56,517		57,589		58,142		57,699		56,210		57,056		56,568
Consumer:
Residential mortgage loans		15,942		15,737		15,597		15,159		14,563		14,424		14,197		13,792
Home equity		7,469		7,695		7,864		7,988		8,131		8,336		8,460		8,591
Automobile loans		9,572		9,983		10,349		10,671		11,129		11,497		11,829		11,914
Credit card		2,070		2,237		2,169		2,172		2,235		2,360		2,230		2,278
Other consumer loans and leases		808		680		643		654		651		658		696		555
Total consumer loans and leases		35,861		36,332		36,622		36,644		36,709		37,275		37,512		37,130
Total loans and leases	$	92,244	$	92,849	$	94,211	$	94,786	$	94,408	$	93,485	$	94,568	$	93,698
Average Loans and Leases ($ in millions)(net of unearned discount)
Commercial:
Commercial and industrial loans	$	41,892	$	42,612	$	43,125	$	43,878	$	43,127	$	43,175	$	43,162	$	42,554
Commercial mortgage loans		6,946		6,961		6,891		6,835		6,908		7,053		7,038		7,149
Commercial construction loans		3,987		3,890		3,848		3,551		3,297		3,141		2,966		2,549
Commercial leases		3,904		3,921		3,963		3,904		3,875		3,841		3,847		3,776
Total commercial loans and leases		56,729		57,384		57,827		58,168		57,207		57,210		57,013		56,028
Consumer:
Residential mortgage loans		15,800		15,802		15,346		14,842		14,405		14,315		13,976		13,375
Home equity		7,581		7,779		7,918		8,059		8,241		8,394		8,521		8,655
Automobile loans		9,786		10,162		10,508		10,887		11,285		11,674		11,881		11,902
Credit card		2,141		2,180		2,165		2,198		2,277		2,320		2,277		2,296
Other consumer loans and leases		754		674		653		653		663		674		661		483
Total consumer loans and leases		36,062		36,597		36,590		36,639		36,871		37,377		37,316		36,711
Total average loans and leases	$	92,791	$	93,981	$	94,417	$	94,807	$	94,078	$	94,587	$	94,329	$	92,739
Asset Quality ($ in millions)
Nonaccrual portfolio loans and leases (excludes restructured loans)	$	346	$	403	$	344	$	385	$	419	$	228	$	205	$	217
Nonaccrual loans held for sale		7		4		91		20		3		1		1		1
Nonaccrual restructured loans held for sale		2		9		9		—		2		11		1		—
Nonaccrual portfolio restructured loans and leases		311		257		257		308		282		278		253		258
OREO and other repossessed property		64		78		97		112		124		141		148		151
Total nonperforming assets	$	730	$	751	$	798	$	825	$	830	$	659	$	608	$	627
Ninety days past due loans and leases	$	75	$	84	$	76	$	65	$	73	$	75	$	70	$	70
Nonperforming Loans ($ in millions)(nonaccrual plus renegotiated)
Commercial and industrial loans and leases	$	487	$	491	$	508	$	483	$	465	$	259	$	171	$	182
Commercial mortgage loans		44		46		52		76		83		93		110		106
Commercial construction loans		—		—		—		—		—		—		6		—
Residential mortgage loans		35		34		32		43		44		51		54		62
Home equity		70		73		78		78		80		79		82		88
Other consumer loans and leases		30		29		31		32		34		36		37		38
Total nonperforming loans and leases (including held for sale)	$	666	$	673	$	701	$	713	$	706	$	518	$	460	$	476
Credit Charge-Offs ($ in millions)
Total losses charged-off	($	107)	($	97)	($	137)	($	105)	($	116)	($	105)	($	209)	($	112)
Total recoveries of losses previously charged-off		18		24		30		18		20		25		21		26
Total net losses charged-off	($	89)	($	73)	($	107)	($	87)	($	96)	($	80)	($	188)	($	86)

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Quarterly Data

	Three Months Ended
	March		December		September		June		March		December		September		June
Regulation G Non-GAAP Reconciliation ($ in millions)	2017		2016		2016(3)		2016(3)		2016(3)		2015		2015		2015
Net interest income (U.S. GAAP)	$	933	$	903	$	907	$	902	$	903	$	899	$	901	$	887
Add:      Taxable equivalent adjustment		6		6		6		6		6		5		5		5
Taxable equivalent net interest income (a)		939		909		913		908		909		904		906		892
Net interest income (U.S. GAAP) (annualized) (b)		3,784		3,592		3,608		3,628		3,632		3,567		3,575		3,558
Taxable equivalent net interest income (annualized) (c)		3,808		3,616		3,632		3,652		3,656		3,587		3,594		3,578
Noninterest income (d)		523		620		840		599		637		1,104		713		556
Noninterest expense (e)		986		960		973		983		986		963		943		947
Average interest-earning assets (f)		125,968		126,548		126,092		126,847		125,651		125,843		124,431		123,302
Net interest margin (U.S. GAAP) (b)/(f)		3.00%		2.84%		2.86%		2.86%		2.89%		2.83%		2.87%		2.89%
Taxable equivalent net interest margin (c)/(f)		3.02%		2.86%		2.88%		2.88%		2.91%		2.85%		2.89%		2.90%
Taxable equivalent efficiency ratio (e)/(a)+(d)		67.4%		62.8%		55.5%		65.3%		63.8%		48.0%		58.2%		65.4%
Income before income taxes (U.S. GAAP)		396		509		694		427		435		949		515		417
Add:      Taxable equivalent adjustment		6		6		6		6		6		5		5		5
Taxable equivalent income before income taxes		402		515		700		433		441		954		520		422
Basel III Final Rule - Transition to fully phased-in
CET1 capital (transitional)	$	12,636	$	12,426	$	12,299	$	12,112	$	11,914	$	11,917	$	11,574	$	11,582
Less: Adjustments to CET1 capital from transitional to fully phased-in(1)		(2)		(4)		(4)		(4)		(5)		(8)		(11)		(12)
CET1 capital (fully phased-in) (g)		12,634		12,422		12,295		12,108		11,909		11,909		11,563		11,570
Risk-weighted assets (transitional)		117,407		119,632		120,954		121,824		121,432		121,290		123,148		122,986
Add: Adjustments to risk-weighted assets from transitional to fully phased-in(2)		1,164		1,115		929		932		1,027		1,178		1,136		1,280
Risk-weighted assets (fully phased-in) (h)	$	118,571	$	120,747	$	121,883	$	122,756	$	122,459	$	122,468	$	124,284	$	124,266
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (g)/(h)		10.66%		10.29%		10.09%		9.86%		9.72%		9.72%		9.30%		9.31%

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

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

(3) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

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