8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 22, 2019

(Exact name of registrant as specified in its charter)

Ohio	001-33653	31-0854434
(State or other jurisdiction of incorporation)	(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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, Without Par Value	FITB	The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I	FITBI	The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A	FITBP	The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K	FITBO	The NASDAQ Stock Market LLC

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 October 22, 2019, Fifth Third Bancorp issued a press release announcing its earnings release for the third quarter of 2019. A copy of this press release is attached as Exhibit 99.1. 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 Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01 Regulation FD Disclosure.

On October 22, 2019, Fifth Third Bancorp issued a press release announcing its earnings release for the third quarter of 2019. A copy of this press release is attached as Exhibit 99.1. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure.

For the benefit of its investors, Fifth Third Bancorp is also furnishing a presentation regarding its earnings conference call. A copy of this item is attached as Exhibit 99.2.

The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 - Press release dated October 22, 2019

Exhibit 99.2 - Third Quarter 2019 Earnings Presentation

Exhibit 104  -  Cover Page Interactive Data File (embedded within the Inline XBRL document)

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)
Date: October 22, 2019	/s/ TAYFUN TUZUN
	Tayfun Tuzun
	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

Fifth Third Announces Third Quarter 2019 Results

Reported diluted earnings per share of $0.71

Reported results included a negative $0.04 impact from certain items on page 2 including merger-related expenses

Key Financial Data										Key Highlights
$ millions for all balance sheet and income statement items	3Q19			2Q19			3Q18				●   Achieved previously stated 4Q19     financial targets sooner than expected
Income Statement Data
Net income available to common shareholders		$530			$427			$421				Reported	Adjusted(1)
Net interest income (U.S. GAAP)		1,242			1,245			1,043			ROTCE(a)	14.2%	16.5%
Net interest income (FTE)(a)		1,246			1,250			1,047
Noninterest income		740			660			563			ROA	1.28%	1.35%
Noninterest expense		1,159			1,243			972
Per Share Data											Efficiency(a)	58.4%	56.7%
Earnings per share, basic		$0.72			$0.57			$0.62
Earnings per share, diluted		0.71			0.57			0.61			●   Revenue and expense performance
Book value per share		27.32			26.17			21.70			exceeded July expectations
Tangible book value per share(a)		21.06			20.03			17.94
Balance Sheet & Credit Quality											●   Record capital markets revenue
Average portfolio loans and leases		$109,541			$110,095			$93,192
Average deposits		125,206			124,345			104,666			●   Strong commercial loan production, up
Net charge-off ratio(b)		0.36	%		0.29	%		0.30	%		15% vs. 3Q18 and up 26% vs. 2Q19
Nonperforming asset ratio(c)		0.47			0.51			0.48
Financial Ratios											●   Effectively managed interest bearing core
Return on average assets		1.28	%		1.08	%		1.22	%		deposit costs (down 2 bps vs. 2Q19) while
Return on average common equity		10.7			9.1			11.4			continuing to grow average core deposits
Return on average tangible common equity(a)		14.2			12.3			13.8			(up 2% vs. 2Q19)
CET1 capital(d)(e)		9.56			9.57			10.67
Net interest margin(a)		3.32			3.37			3.23			●   Remain on-track to achieve MB expense
Efficiency(a)		58.4			65.1			60.4			savings by 1Q20 ($255 million pre-tax);
Other than the Quarterly Financial Review tables beginning on page 13, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Industry Guide 3 that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis. (1)Adjusted return metrics are non-GAAP measures; see discussion on non-GAAP and Reg G. reconciliation beginning on page 26; ROTCE excludes accumulated other comprehensive income (“AOCI”).											expect to achieve ~80% of run-rate savings by year-end ●   Continue to realize desired MB employee and client outcomes

CEO Commentary

“Our strong third quarter results reflect the ongoing discipline throughout the bank and the strength of our diversified revenue streams. We generated very strong fee revenue, including a record in capital markets, while tightly managing our expenses. In addition, we generated strong core deposit growth while lowering deposit costs. As a result, our key financial metrics met or exceeded our year-end targets.

During the quarter, we were again able to deliver the financial outcomes as we had expected associated with the MB Financial acquisition, and remain on-track to achieve the previously-stated expense and revenue synergy targets. We remain pleased with the low client attrition rates, and employee attrition continues to track our original deal expectations.

Our clearly defined strategic growth priorities, proactive balance sheet management, and continued discipline throughout the bank position us well into next year and beyond. We remain cognizant of the dynamic macroeconomic and interest rate environment, and continue to focus on through-the-cycle outperformance to create long-term shareholder value.”

-Greg D. Carmichael, Chairman, President and CEO

Investor contact: Chris Doll (513) 534–2345 | Media contact: Gary Rhodes (513) 534–4225 October 22, 2019

Income Statement Highlights
($ in millions, except per share data)	For the Three Months Ended			% Change
	September	June	September
	2019	2019	2018	Seq	Yr/Yr
Condensed Statements of Income
Net interest income (NII)(a)	$1,246	$1,250	$1,047	-	19%
Provision for credit losses	134	85	84	58%	60%
Noninterest income	740	660	563	12%	31%
Noninterest expense	1,159	1,243	972	(7%)	19%
Income before income taxes(a)	$693	$582	$554	19%	25%
Taxable equivalent adjustment	4	5	4	(20%)	-
Applicable income tax expense	140	124	114	13%	23%
Net income	$549	$453	$436	21%	26%
Less: Net income attributable to noncontrolling interests	-	-	-	NM	NM
Net income attributable to Bancorp	$549	$453	$436	21%	26%
Dividends on preferred stock	19	26	15	(27%)	27%
Net income available to common shareholders	$530	$427	$421	24%	26%
Earnings per share, diluted	$0.71	$0.57	$0.61	25%	16%

Fifth Third Bancorp (Nasdaq: FITB) today reported third quarter 2019 net income of $549 million compared to net income of $436 million in the year-ago quarter. Net income available to common shareholders was $530 million, or $0.71 per diluted share, compared to $421 million, or $0.61 per diluted share in the year-ago quarter. Prior quarter net income was $453 million and net income available to common shareholders was $427 million, or $0.57 per diluted share.

Diluted earnings per share impact of certain items
(after-tax impacts(f); $ in millions, except per share data)
Merger-related expenses	($22	)
Valuation of Visa total return swap	($8	)
After-tax impact(f) of certain items	($30	)
Average diluted common shares outstanding (thousands)	736,086
Diluted earnings per share impact	($0.04	)

2

Net Interest Income
(FTE; $ in millions)(a)	For the Three Months Ended						% Change
	September		June		September
	2019		2019		2018		Seq		Yr/Yr
Interest Income
Interest income		$1,629		$1,641		$1,319		(1%)		24%
Interest expense		383		391		272		(2%)		41%
Net interest income (NII)		$1,246		$1,250		$1,047		-		19%
Adjusted NII(a)		$1,218		$1,232		$1,047		(1%)		16%
Average Yield/Rate Analysis								bps Change
Yield on interest-earning assets		4.34%		4.42%		4.07%		(8)		27
Rate paid on interest-bearing liabilities		1.41%		1.47%		1.20%		(6)		21
Ratios
Net interest rate spread		2.93%		2.95%		2.87%		(2)		6
Net interest margin (NIM)		3.32%		3.37%		3.23%		(5)		9
Adjusted NIM(a)		3.25%		3.32%		3.23%		(7)		2

Compared to the year-ago quarter, reported NII increased $199 million, or 19%. Excluding purchase accounting accretion of $28 million in the third quarter of 2019, adjusted NII increased $171 million, or 16%, reflecting an increase in interest earning assets, including the impact from the MB Financial acquisition. Compared to the year-ago quarter, reported NIM increased 9 bps, or 2 bps excluding purchase accounting accretion.

Compared to the prior quarter, reported NII decreased $4 million. Excluding purchase accounting accretion, adjusted NII decreased $14 million, or 1%, primarily reflecting lower short-term market rates and a decline in commercial & industrial (C&I) loans, partially offset by growth in the indirect secured consumer portfolio (predominantly indirect automobile) and lower deposit costs. Compared to the prior quarter, reported NIM decreased 5 bps. Excluding purchase accounting accretion, adjusted NIM decreased 7 bps, primarily reflecting lower short-term market rates, increased deposit balances resulting in elevated cash levels and higher day count, partially offset by continued improvement in indirect secured consumer yields (predominantly indirect automobile).

Noninterest Income
($ in millions)		For the Three Months Ended							% Change
	September		June		September
	2019		2019		2018			Seq		Yr/Yr
Noninterest Income
Service charges on deposits		$143		$143		$139			-	3%
Corporate banking revenue		168		137		100			23%	68%
Mortgage banking net revenue		95		63		49			51%	94%
Wealth and asset management revenue		124		122		114			2%	9%
Card and processing revenue		94		92		82			2%	15%
Other noninterest income		111		93		86			19%	29%
Securities gains (losses), net		5		8		(6	)		(38%)	NM
Securities gains (losses), net - non-qualifying hedges on mortgage servicing rights		-		2		(1	)		(100%)	NM
Total noninterest income		$740		$660		$563			12%	31%

3

Reported noninterest income increased $177 million, or 31%, from the year-ago quarter, and increased $80 million, or 12%, from the prior quarter. The reported results reflect the impact of certain items in the table below, in both the prior quarter and the year-ago quarter.

Noninterest Income excluding certain items
($ in millions)	For the Three Months Ended
	September			June			September
	2019			2019			2018
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)		$740			$660			$563
Valuation of Visa total return swap		11			22			17
GreenSky equity securities losses		-			-			8
Securities (gains), net (excluding GreenSky)		(5	)		(8	)		(2	)
Noninterest income excluding certain items(a)		$746			$674			$586

Compared to the year-ago quarter, noninterest income excluding the items in the preceding table increased $160 million, or 27%. Compared to the prior quarter, noninterest income excluding the items in the preceding table increased $72 million, or 11%.

Compared to the year-ago quarter, service charges on deposits increased $4 million, or 3%, primarily driven by higher commercial deposit fees, partially offset by lower consumer deposit fees. Corporate banking revenue increased $68 million, or 68%, primarily driven by lease-related services revenue resulting from the MB Financial acquisition, as well as increases in lease remarketing revenue, corporate bond fees, and M&A advisory revenue. Mortgage banking net revenue increased $46 million, or 94%, primarily driven by higher mortgage originations of $3.4 billion, an increase of 81%. Wealth and asset management revenue increased $10 million, or 9%, primarily driven by higher personal asset management revenue.

Compared to the prior quarter, service charges on deposits were flat, as higher consumer deposit fees were offset by lower commercial deposit fees. Corporate banking revenue increased $31 million, or 23%, primarily driven by an increase in lease remarketing revenue, M&A advisory revenue, and corporate bond fees. Mortgage banking net revenue increased $32 million, or 51%, primarily driven by an improved gain on sale margin and a 17% increase in origination volumes. Wealth and asset management revenue increased $2 million, or 2%, primarily driven by higher personal asset management revenue and brokerage fees.

Other noninterest income results on a reported basis in the current and previous quarters were impacted by the Visa total return swap valuation adjustments. Excluding this item, other noninterest income of $122 million increased $19 million, or 18%, compared to the year-ago quarter, primarily driven by other noninterest income from MB Financial. Compared to the prior quarter, other noninterest income excluding this item increased $7 million, or 6%, reflecting higher private equity investment income.

4

Noninterest Expense
($ in millions)		For the Three Months Ended						% Change
	September		June		September
	2019		2019		2018		Seq		Yr/Yr
Noninterest Expense
Compensation and benefits		$584		$641		$503		(9%)		16%
Net occupancy expense		84		88		70		(5%)		20%
Technology and communications		100		136		71		(26%)		41%
Equipment expense		33		33		31		-		6%
Card and processing expense		33		34		31		(3%)		6%
Intangible amortization expense		14		14		2		-		NM
Other noninterest expense		311		297		264		5%		18%
Total noninterest expense		$1,159		$1,243		$972		(7%)		19%

Impacts of Merger-Related Expenses
($ in millions)	For the Three Months Ended
	September		June		September
	2019		2019		2018
Merger-Related Expenses
Compensation and benefits		$14		$41		$-
Net occupancy expense		3		6		-
Technology and communications		8		49		-
Equipment expense		-		1		-
Card and processing expense		-		1		-
Intangible amortization expense		-		-		-
Other noninterest expense		3		11		1
Total merger-related expenses		$28		$109		$1

Noninterest Expense excluding Merger-Related Expenses(a)
($ in millions)		For the Three Months Ended						% Change
	September		June		September
	2019		2019		2018		Seq		Yr/Yr
Noninterest Expense excluding Merger-Related Expenses
Compensation and benefits		$570		$600		$503		(5%)		13%
Net occupancy expense		81		82		70		(1%)		16%
Technology and communications		92		87		71		6%		30%
Equipment expense		33		32		31		3%		6%
Card and processing expense		33		33		31		-		6%
Intangible amortization expense		14		14		2		-		NM
Other noninterest expense		308		286		263		8%		17%
Total noninterest expense excluding merger-related expenses		$1,131		$1,134		$971		-		16%

Compared to the year-ago quarter, reported noninterest expense increased $187 million, or 19%, impacted by the expenses associated with the MB Financial acquisition. Excluding the merger-related expenses and the intangible amortization expense noted in the table above, noninterest expense increased $148 million, or 15%, reflecting the ongoing expenses from the MB Financial acquisition, including elevated other noninterest expense associated with operating lease expense, as well as continued technology investments. The growth was partially offset by the elimination of the FDIC surcharge.

5

Compared to the prior quarter, reported noninterest expense decreased $84 million, or 7%, and was impacted by lower merger-related expenses, partially offset by elevated other noninterest expense. Excluding the merger-related expenses and the aforementioned intangible amortization expense, noninterest expense decreased $3 million, driven by lower compensation and benefits partially offset by higher other noninterest expense.

Average Interest-Earning Assets
($ in millions)	For the Three Months Ended						% Change
	September		June		September
	2019		2019		2018		Seq		Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans		$51,241		$52,078		$42,494		(2%)		21%
Commercial mortgage loans		10,692		10,632		6,635		1%		61%
Commercial construction loans		5,267		5,248		4,870		-		8%
Commercial leases		3,562		3,809		3,738		(6%)		(5%)
Total commercial loans and leases		$70,762		$71,767		$57,737		(1%)		23%
Consumer loans:
Residential mortgage loans		$16,736		$16,804		$15,598		-		7%
Home equity		6,267		6,376		6,529		(2%)		(4%)
Indirect secured consumer loans		10,707		10,190		8,969		5%		19%
Credit card		2,448		2,408		2,299		2%		6%
Other consumer loans		2,621		2,550		2,060		3%		27%
Total consumer loans		$38,779		$38,328		$35,455		1%		9%
Total average portfolio loans and leases		$109,541		$110,095		$93,192		(1%)		18%
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale		$127		$113		$157		12%		(19%)
Consumer loans held for sale		998		785		628		27%		59%
Total average loans and leases held for sale		$1,125		$898		$785		25%		43%
Securities and other short-term investments		$38,188		$37,797		$34,822		1%		10%
Total average interest-earning assets		$148,854		$148,790		$128,799		-		16%

Compared to the year-ago quarter, average total portfolio loans and leases increased 18%, reflecting the impact of the MB Financial acquisition. Average commercial portfolio loans and leases increased 23%, reflecting the impact of MB Financial as well as higher commercial and industrial (C&I) and commercial mortgage loans, partially offset by a decline in commercial leases. Average consumer portfolio loans increased 9%, reflecting the impact of MB Financial as well as growth in indirect secured consumer loans and other consumer loans.

Compared to the prior quarter, average total portfolio loans and leases decreased 1%, primarily driven by a decline in C&I loans and commercial leases, partially offset by an increase in indirect secured consumer loans. Average commercial portfolio loans and leases decreased 1%, primarily driven by a decline in C&I loans and commercial leases. Average consumer portfolio loans increased 1%, reflecting growth in indirect secured consumer loans and other consumer loans, partially offset by a decline in home equity loans.

Period end commercial line utilization was 36%, compared to 35% in the year-ago quarter and 37% in the prior quarter.

6

Average securities and other short-term investments were $38.2 billion compared to $34.8 billion in the year-ago quarter and $37.8 billion in the prior quarter. Average available-for-sale debt and other securities of $34.8 billion increased 7% compared to the year-ago quarter and remained flat compared to the prior quarter.

Average Deposits
($ in millions)	For the Three Months Ended						% Change
	September		June		September
	2019		2019		2018		Seq		Yr/Yr
Average Deposits
Demand		$35,223		$35,818		$32,333		(2%)		9%
Interest checking		37,729		36,514		29,681		3%		27%
Savings		14,405		14,418		13,231		-		9%
Money market		26,962		25,934		21,753		4%		24%
Foreign office(g)		222		163		317		36%		(30%)
Total transaction deposits		$114,541		$112,847		$97,315		2%		18%
Other time		5,823		5,678		4,177		3%		39%
Total core deposits		$120,364		$118,525		$101,492		2%		19%
Certificates - $100,000 and over		4,795		5,780		2,596		(17%)		85%
Other deposits		47		40		578		18%		(92%)
Total average deposits		$125,206		$124,345		$104,666		1%		20%

Compared to the year-ago quarter, average core deposits increased 19%, reflecting the impact of the MB Financial acquisition. Average core deposit growth was driven by an increase in interest checking, money market, and demand deposits. The increases were partially offset by lower foreign office deposits. Average commercial transaction deposits increased 26% and average consumer transaction deposits increased 11%.

Compared to the prior quarter, average core deposits increased 2%, primarily driven by higher interest checking and money market deposits, partially offset by a decline in demand deposits. Average demand deposits represented 29% of total core deposits in the third quarter of 2019, down from 30% in the prior quarter. Average commercial transaction deposits increased 4%, and average consumer transaction deposits decreased 1%.

Average Wholesale Funding
($ in millions)	For the Three Months Ended						% Change
	September		June		September
	2019		2019		2018		Seq		Yr/Yr
Average Wholesale Funding
Certificates - $100,000 and over		$4,795		$5,780		$2,596		(17%)		85%
Other deposits		47		40		578		18%		(92%)
Federal funds purchased		739		1,151		1,987		(36%)		(63%)
Other short-term borrowings		1,278		1,119		1,018		14%		26%
Long-term debt		15,633		15,543		14,434		1%		8%
Total average wholesale funding		$22,492		$23,633		$20,613		(5%)		9%

Compared to the year-ago quarter, average wholesale funding increased 9% driven by growth in jumbo CD balances and long-term debt balances associated with the acquisition of MB Financial, partially offset by a decrease in federal funds borrowings. Compared to the prior quarter, average wholesale funding decreased 5% reflecting a decrease in jumbo CD balances and federal funds borrowings, partially offset by an increase in other short-term debt.

7

Credit Quality Summary
($ in millions)	For the Three Months Ended
	September			June			March			December			September
	2019			2019			2019			2018			2018
Total nonaccrual portfolio loans and leases (NPLs)		$482			$521			$450			$348			$403
Repossessed property		9			8			11			10			8
OREO		28			31			37			37			37
Total nonperforming portfolio assets (NPAs)		$519			$560			$498			$395			$448
NPL ratio(h)		0.44%			0.48%			0.41%			0.37%			0.43%
NPA ratio(c)		0.47%			0.51%			0.45%			0.41%			0.48%
Total loans and leases 30-89 days past due (accrual)		402			383			322			297			270
Total loans and leases 90 days past due (accrual)		132			128			132			93			87
Allowance for loan and lease losses, beginning		$1,115			$1,115			$1,103			$1,091			$1,077
Total net losses charged-off		(99	)		(78	)		(77	)		(83	)		(72	)
Provision for loan and lease losses		127			78			89			95			86
Allowance for loan and lease losses, ending		$1,143			$1,115			$1,115			$1,103			$1,091
Reserve for unfunded commitments, beginning		$147			$133			$131			$129			$131
Reserve for acquired commitments		-			7			1			-			-
Provision for (benefit from) the reserve for unfunded commitments		7			7			1			2			(2)
Reserve for unfunded commitments, ending		$154			$147			$133			$131			$129
Total allowance for credit losses		$1,297			$1,262			$1,248			$1,234			$1,220
Allowance for loan and lease losses ratios
As a percent of portfolio loans and leases		1.04%			1.02%			1.02%			1.16%			1.17%
As a percent of nonperforming portfolio loans and leases		237%			214%			248%			317%			270%
As a percent of nonperforming portfolio assets		221%			199%			224%			279%			243%
Total losses charged-off		$(130	)		$(119	)		$(108	)		$(116	)		$(112	)
Total recoveries of losses previously charged-off		31			41			31			33			40
Total net losses charged-off		$(99	)		$(78	)		$(77	)		$(83	)		$(72	)
Net charge-off ratio (NCO ratio)(b)		0.36%			0.29%			0.32%			0.35%			0.30%
Commercial NCO ratio		0.18%			0.13%			0.11%			0.19%			0.19%
Consumer NCO ratio		0.68%			0.59%			0.68%			0.61%			0.50%

Compared to the year-ago quarter, NPLs increased $79 million, or 20%, with the resulting NPL ratio of 0.44% increasing 1 bp. NPAs increased $71 million, or 16%, with the resulting NPA ratio of 0.47% decreasing 1 bp. Compared to the prior quarter, NPLs decreased $39 million, or 7%, with the resulting NPL ratio decreasing 4 bps. NPAs decreased $41 million, or 7%, with the resulting NPA ratio decreasing 4 bps.

The provision for loan and lease losses totaled $127 million in the current quarter compared to $86 million in the year-ago quarter and $78 million in the prior quarter. The resulting allowance for loan and lease losses ratio represented 1.04% of total portfolio loans and leases outstanding in the current quarter, compared with 1.17% in the year-ago quarter and 1.02% in the prior quarter. The allowance for loan and lease losses represented 237% of nonperforming portfolio loans and leases and 221% of nonperforming portfolio assets in the current quarter.

8

Net charge-offs totaled $99 million in the current quarter compared to $72 million in the year-ago quarter and $78 million in the prior quarter. The resulting NCO ratio of 0.36% in the current quarter increased 6 bps compared to the year-ago quarter and increased 7 bps compared to the prior quarter.

Capital and Liquidity Position
	For the Three Months Ended
	September		June		March		December		September
	2019		2019		2019		2018		2018
Capital Position
Average total Bancorp shareholders’ equity as a percent of average assets		12.43%		12.02%		11.43%		10.95%		11.29%
Tangible equity(a)		9.29%		9.09%		9.03%		9.63%		9.97%
Tangible common equity (excluding AOCI)(a)		8.21%		8.27%		8.21%		8.71%		9.02%
Tangible common equity (including AOCI)(a)		9.09%		8.91%		8.44%		8.64%		8.53%
Regulatory Capital and Liquidity Ratios(e)
CET1 capital(d)		9.56%		9.57%		9.60%		10.24%		10.67%
Tier I risk-based capital(d)		10.81%		10.62%		10.67%		11.32%		11.78%
Total risk-based capital(d)		13.69%		13.53%		13.57%		14.48%		14.94%
Tier I leverage		9.36%		9.24%		10.32%		9.72%		10.10%
Modified liquidity coverage ratio (LCR)		116%		119%		113%		128%		119%

Capital ratios remained strong during the quarter. The CET1 capital ratio was 9.56%, the tangible common equity to tangible assets ratio was 8.21% excluding AOCI, and 9.09% including AOCI. The Tier I risk-based capital ratio was 10.81%, the Total risk-based capital ratio was 13.69%, and the Tier I leverage ratio was 9.36%.

Fifth Third completed multiple share repurchases during the quarter totaling $350 million, including approximately $50 million of its outstanding common stock (approximately 1.7 million shares) through the open market, which settled between July 31, 2019 and August 1, 2019. Below is a summary of the remaining share repurchases.

● On August 7, 2019, Fifth Third initially settled a share repurchase agreement whereby Fifth Third would purchase $100 million of its outstanding stock. The initial settlement reduced third quarter common shares outstanding by 3.1 million shares. On August 16, 2019, Fifth Third settled the forward contract, which resulted in an additional 0.7 million shares repurchased in connection with the completion of this agreement.

● On August 9, 2019, Fifth Third initially settled a share repurchase agreement whereby Fifth Third would purchase $200 million of its outstanding stock in two $100 million tranches. The initial settlement reduced third quarter common shares outstanding by 6.4 million shares. On August 28, 2019, Fifth Third settled both tranches from the forward contract. An additional 1.5 million shares were repurchased in connection with the completion of this agreement.

Based on the transactions noted above, common shares outstanding decreased by approximately 13.4 million shares, or 1.8%, in the third quarter of 2019 from the second quarter of 2019.

Fifth Third issued $250 million of 4.95% fixed rate non-cumulative perpetual preferred stock (Series K preferred stock) for net proceeds of $242 million on September 17, 2019.

9

Tax Rate

The effective tax rate was 20.2% compared with 20.7% in the year-ago quarter and 21.5% in the prior quarter. The current quarter tax rate was impacted by a $7 million tax benefit associated with certain commercial lease terminations.

Other

On September 10, 2019, Fifth Third Bank received approval from the Office of the Comptroller of the Currency (“OCC”) to convert from an Ohio state-chartered bank to a national bank.

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 November 5, 2019 by dialing 800-585-8367 for domestic access or 404-537-3406 for international access (passcode 7285218#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2019, the Company had $171 billion in assets and operates 1,143 full-service Banking Centers, and 2,487 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2019, had $397 billion in assets under care, of which it managed $46 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory 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) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

(b) Net losses charged-off as a percent of average portfolio loans and leases.

(c) Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO.

(d) Under the U.S. 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.

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

(f) Assumes a 23% tax rate, except for merger-related expenses which were impacted by certain non-deductible items.

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

(h) Nonperforming portfolio loans and leases as a percent of portfolio loans and leases and OREO.

10

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,” “is anticipated,” “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 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. We undertake no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this document.

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) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management systems; (14) losses related to fraud, theft or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) replacement of LIBOR; (24) weakness in the national or local economies; (25) global political and economic uncertainty or negative actions; (26) changes in interest rates; (27) changes and trends in capital markets; (28) fluctuation of Fifth Third’s stock price; (29) volatility in mortgage banking revenue; (30) litigation, investigations, and enforcement proceedings by governmental authorities; (31) breaches of contractual covenants, representations and warranties; (32) competition and changes in the financial services industry; (33) changing retail distribution strategies, customer preferences and behavior; (34) risks relating to Fifth Third’s ability to realize anticipated benefits of the merger with MB Financial, Inc.; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events or other natural disasters; and (43) the impact of reputational risk created by these or other 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.

# # #

11

Quarterly Financial Review for September 30, 2019

Table of Contents

Financial Highlights	13-14
Consolidated Statements of Income	15-16
Consolidated Balance Sheets	17-18
Consolidated Statements of Changes in Equity	19
Average Balance Sheet and Yield/Rate Analysis	20-21
Summary of Loans and Leases	22
Regulatory Capital	23
Summary of Credit Loss Experience	24
Asset Quality	25
Regulation G Non-GAAP Reconciliation	26-28
Segment Presentation	29

12

Fifth Third Bancorp and Subsidiaries
Financial Highlights							% / bps										% / bps
$ in millions, except per share data	For the Three Months Ended						Change						Year to Date				Change
(unaudited)	September		June		September								September		September
	2019		2019		2018		Seq			Yr/Yr			2019		2018		Yr/Yr
Income Statement Data
Net interest income		$1,242		$1,245		$1,043		-			19%			$3,569		$3,059		17%
Net interest income (FTE)(a)		1,246		1,250		1,047		-			19%			3,582		3,071		17%
Noninterest income		740		660		563		12%			31%			2,501		2,215		13%
Total revenue (FTE)(a)		1,986		1,910		1,610		4%			23%			6,083		5,286		15%
Provision for credit losses		134		85		84		58%			60%			310		111		179%
Noninterest expense		1,159		1,243		972		(7%)			19%			3,499		2,984		17%
Net income attributable to Bancorp		549		453		436		21%			26%			1,778		1,737		2%
Net income available to common shareholders		530		427		421		24%			26%			1,718		1,685		2%
Earnings Per Share Data
Net income allocated to common shareholders		$526		$423		$417		24%			26%			$1,702		$1,667		2%
Average common shares outstanding (in thousands):
Basic		726,716		738,051		667,624		(2%)			9%			708,849		680,182		4%
Diluted		736,086		747,750		679,199		(2%)			8%			718,413		693,079		4%
Earnings per share, basic		$0.72		$0.57		$0.62		26%			16%			$2.40		$2.45		(2%)
Earnings per share, diluted		0.71		0.57		0.61		25%			16%			2.37		2.41		(2%)
Common Share Data
Cash dividends per common share		$0.24		$0.24		$0.18		-			33%			$0.70		$0.52		35%
Book value per share		27.32		26.17		21.70		4%			26%			27.32		21.70		26%
Market price per share		27.38		27.90		27.92		(2%)			(2%)			27.38		27.92		(2%)
Common shares outstanding (in thousands)		718,583		731,474		661,373		(2%)			9%			718,583		661,373		9%
Market capitalization		$19,675		$20,408		$18,466		(4%)			7%			$19,675		$18,466		7%
Financial Ratios
Return on average assets		1.28%		1.08%		1.22%		20			6			1.47%		1.64%		(17	)
Return on average common equity		10.7%		9.1%		11.4%		160			(70	)		12.7%		15.3%		(260	)
Return on average tangible common equity(a)		14.2%		12.3%		13.8%		190			40			16.5%		18.5%		(200	)
Noninterest income as a percent of total revenue(a)		37%		35%		35%		200			200			41%		42%		(100	)
Dividend payout		33.3%		42.1%		29.0%		(880	)		430			29.2%		21.2%		800
Average total Bancorp shareholders’ equity as a percent of average assets		12.43%		12.02%		11.29%		41			114			11.99%		11.33%		66
Tangible common equity(a)		8.21%		8.27%		9.02%		(6	)		(81	)		8.21%		9.02%		(81	)
Net interest margin (FTE)(a)		3.32%		3.37%		3.23%		(5	)		9			3.32%		3.20%		12
Efficiency (FTE)(a)		58.4%		65.1%		60.4%		(670	)		(200	)		57.5%		56.4%		110
Effective tax rate		20.2%		21.5%		20.7%		(130	)		(50	)		21.4%		20.3%		110
Credit Quality
Net losses charged-off		$99		$78		$72		27%			38%			$256		$247		4%
Net losses charged-off as a percent of average portfolio loans and leases		0.36%		0.29%		0.30%		7			6			0.32%		0.36%		(4)
ALLL as a percent of portfolio loans and leases		1.04%		1.02%		1.17%		2			(13	)		1.04%		1.17%		(13)
Allowance for credit losses as a percent of portfolio loans and leases(g)		1.19%		1.15%		1.31%		4			(12	)		1.19%		1.31%		(12)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.47%		0.51%		0.48%		(4	)		(1	)		0.47%		0.48%		(1)
Average Balances
Loans and leases, including held for sale		$110,666		$110,993		$93,977		-			18%			$106,719		$93,363		14%
Securities and other short-term investments		38,188		37,797		34,822		1%			10%			37,369		34,813		7%
Assets		169,585		167,578		141,654		1%			20%			162,119		141,511		15%
Transaction deposits(b)		114,541		112,847		97,315		2%			18%			109,396		97,303		12%
Core deposits(c)		120,364		118,525		101,492		2%			19%			114,853		101,321		13%
Wholesale funding(d)		22,492		23,633		20,613		(5%)			9%			22,772		20,546		11%
Bancorp shareholders’ equity		21,087		20,135		15,994		5%			32%			19,430		16,030		21%
Regulatory Capital and Liquidity Ratios(e)
CET1 capital(f)		9.56%		9.57%		10.67%		(1	)		(111)			9.56%		10.67%		(111)
Tier I risk-based capital(f)		10.81%		10.62%		11.78%		19			(97)			10.81%		11.78%		(97)
Total risk-based capital(f)		13.69%		13.53%		14.94%		16			(125)			13.69%		14.94%		(125)
Tier I leverage		9.36%		9.24%		10.10%		12			(74)			9.36%		10.10%		(74)
Modified liquidity coverage ratio (LCR)		116%		119%		119%		(3%	)		(3%)			116%		119%		(3%)
Operations
Banking centers		1,143		1,207		1,152		(5%	)		(1%)			1,143		1,152		(1%)
ATMs		2,487		2,551		2,443		(3%	)		2%			2,487		2,443		2%
Full-time equivalent employees		19,478		19,758		17,512		(1%	)		11%			19,478		17,512		11%

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

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

(c) Includes transaction deposits plus other time deposits.

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

(e) Current period regulatory capital and liquidity ratios are estimates.

(f) Under the U.S. 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.

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

13

Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data	For the Three Months Ended
(unaudited)	September		June		March		December		September
	2019		2019		2019		2018		2018
Income Statement Data
Net interest income		$1,242		$1,245		$1,082		$1,081		$1,043
Net interest income (FTE)(a)		1,246		1,250		1,086		1,085		1,047
Noninterest income		740		660		1,101		575		563
Total revenue (FTE)(a)		1,986		1,910		2,187		1,660		1,610
Provision for credit losses		134		85		90		97		84
Noninterest expense		1,159		1,243		1,097		975		972
Net income attributable to Bancorp		549		453		775		455		436
Net income available to common shareholders		530		427		760		432		421
Earnings Per Share Data
Net income allocated to common shareholders		$526		$423		$752		$427		$417
Average common shares outstanding (in thousands):
Basic		726,716		738,051		661,057		653,062		667,624
Diluted		736,086		747,750		670,685		662,966		679,199
Earnings per share, basic		$0.72		$0.57		$1.14		$0.65		$0.62
Earnings per share, diluted		0.71		0.57		1.12		0.64		0.61
Common Share Data
Cash dividends per common share		$0.24		$0.24		$0.22		$0.22		$0.18
Book value per share		27.32		26.17		24.77		23.07		21.70
Market value per share		27.38		27.90		25.22		23.53		27.92
Common shares outstanding (in thousands)		718,583		731,474		739,406		646,631		661,373
Market capitalization		$19,675		$20,408		$18,648		$15,215		$18,466
Financial Ratios
Return on average assets		1.28%		1.08%		2.11%		1.25%		1.22%
Return on average common equity		10.7%		9.1%		19.6%		11.8%		11.4%
Return on average tangible common equity(a)		14.2%		12.3%		23.9%		14.3%		13.8%
Noninterest income as a percent of total revenue(a)		37%		35%		50%		35%		35%
Dividend payout		33.3%		42.1%		19.3%		33.8%		29.0%
Average total Bancorp shareholders’ equity as a percent of average assets		12.43%		12.02%		11.43%		10.95%		11.29%
Tangible common equity(a)		8.21%		8.27%		8.21%		8.71%		9.02%
Net interest margin (FTE)(a)		3.32%		3.37%		3.28%		3.29%		3.23%
Efficiency (FTE)(a)		58.4%		65.1%		50.2%		58.7%		60.4%
Effective tax rate		20.2%		21.5%		22.2%		22.4%		20.7%
Credit Quality
Net losses charged-off		$99		$78		$77		$83		$72
Net losses charged-off as a percent of average portfolio loans and leases		0.36%		0.29%		0.32%		0.35%		0.30%
ALLL as a percent of portfolio loans and leases		1.04%		1.02%		1.02%		1.16%		1.17%
Allowance for credit losses as a percent of portfolio loans and leases(g)		1.19%		1.15%		1.14%		1.30%		1.31%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.47%		0.51%		0.45%		0.41%		0.48%
Average Balances
Loans and leases, including held for sale		$110,666		$110,993		$98,362		$95,398		$93,977
Securities and other short-term investments		38,188		37,797		36,101		35,674		34,822
Assets		169,585		167,578		148,968		144,185		141,654
Transaction deposits(b)		114,541		112,847		100,647		99,721		97,315
Core deposits(c)		120,364		118,525		105,507		104,087		101,492
Wholesale funding(d)		22,492		23,633		22,187		20,660		20,613
Bancorp shareholders’ equity		21,087		20,135		17,025		15,794		15,994
Regulatory Capital and Liquidity Ratios(e)
CET1 capital(f)		9.56%		9.57%		9.60%		10.24%		10.67%
Tier I risk-based capital(f)		10.81%		10.62%		10.67%		11.32%		11.78%
Total risk-based capital(f)		13.69%		13.53%		13.57%		14.48%		14.94%
Tier I leverage		9.36%		9.24%		10.32%		9.72%		10.10%
Modified liquidity coverage ratio (LCR)		116%		119%		113%		128%		119%
Operations
Banking centers		1,143		1,207		1,207		1,121		1,152
ATMs		2,487		2,551		2,559		2,419		2,443
Full-time equivalent employees		19,478		19,758		20,115		17,437		17,512

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

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

(c) Includes transaction deposits plus other time deposits.

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

(e) Current period regulatory capital and liquidity ratios are estimates.

(f) Under the U.S. 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.

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

14

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended							% Change				Year to Date					% Change
(unaudited)	September		June		September							September		September
	2019		2019		2018			Seq		Yr/Yr		2019		2018			Yr/Yr
Interest Income
Interest and fees on loans and leases		$1,320		$1,336		$1,040			(1%)		27%		$3,799		$2,975			28%
Interest on securities		291		290		269			-		8%		862		798			8%
Interest on other short-term investments		14		10		6			40%		133%		33		17			94%
Total interest income		1,625		1,636		1,315			(1%)		24%		4,694		3,790			24%
Interest Expense
Interest on deposits		243		243		144			-		69%		692		359			93%
Interest on federal funds purchased		4		8		10			(50%)		(60%)		23		17			35%
Interest on other short-term borrowings		8		9		6			(11%)		33%		23		25			(8%)
Interest on long-term debt		128		131		112			(2%)		14%		387		330			17%
Total interest expense		383		391		272			(2%)		41%		1,125		731			54%
Net Interest Income		1,242		1,245		1,043			-		19%		3,569		3,059			17%
Provision for credit losses		134		85		84			58%		60%		310		111			179%
Net Interest Income After Provision for Credit Losses		1,108		1,160		959			(4%)		16%		3,259		2,948			11%
Noninterest Income
Service charges on deposits		143		143		139			-		3%		417		414			1%
Corporate banking revenue		168		137		100			23%		68%		417		308			35%
Mortgage banking net revenue		95		63		49			51%		94%		214		158			35%
Wealth and asset management revenue		124		122		114			2%		9%		358		335			7%
Card and processing revenue		94		92		82			2%		15%		266		245			9%
Other noninterest income		111		93		86			19%		29%		794		794			-
Securities gains (losses), net		5		8		(6	)		(38%)		NM		30		(21	)		NM
Securities gains (losses), net - non-qualifying hedges on mortgage servicing rights		-		2		(1	)		(100%)		NM		5		(18	)		NM
Total noninterest income		740		660		563			12%		31%		2,501		2,215			13%
Noninterest Expense
Compensation and benefits		584		641		503			(9%)		16%		1,843		1,609			15%
Net occupancy expense		84		88		70			(5%)		20%		248		219			13%
Technology and communications		100		136		71			(26%)		41%		319		206			55%
Equipment expense		33		33		31			-		6%		96		92			4%
Card and processing expense		33		34		31			(3%)		6%		98		91			8%
Other noninterest expense		325		311		266			5%		22%		895		767			17%
Total noninterest expense		1,159		1,243		972			(7%)		19%		3,499		2,984			17%
Income Before Income Taxes		689		577		550			19%		25%		2,261		2,179			4%
Applicable income tax expense		140		124		114			13%		23%		483		442			9%
Net Income		549		453		436			21%		26%		1,778		1,737			2%
Less: Net income attributable to noncontrolling interests		-		-		-			NM		NM		-		-			NM
Net Income Attributable to Bancorp		549		453		436			21%		26%		1,778		1,737			2%
Dividends on preferred stock		19		26		15			(27%)		27%		60		52			15%
Net Income Available to Common Shareholders		$530		$427		$421			24%		26%		$1,718		$1,685			2%

15

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended
(unaudited)	September	June	March	December		September
	2019	2019	2019	2018		2018
Interest Income
Interest and fees on loans and leases	$1,320	$1,336	$1,143	$1,104		$1,040
Interest on securities	291	290	281	282		269
Interest on other short-term investments	14	10	9	7		6
Total interest income	1,625	1,636	1,433	1,393		1,315
Interest Expense
Interest on deposits	243	243	205	179		144
Interest on federal funds purchased	4	8	12	13		10
Interest on other short-term borrowings	8	9	6	4		6
Interest on long-term debt	128	131	128	116		112
Total interest expense	383	391	351	312		272
Net Interest Income	1,242	1,245	1,082	1,081		1,043
Provision for credit losses	134	85	90	97		84
Net Interest Income After Provision for Credit Losses	1,108	1,160	992	984		959
Noninterest Income
Service charges on deposits	143	143	131	135		139
Corporate banking revenue	168	137	112	130		100
Mortgage banking net revenue	95	63	56	54		49
Wealth and asset management revenue	124	122	112	109		114
Card and processing revenue	94	92	79	84		82
Other noninterest income	111	93	592	93		86
Securities gains (losses), net	5	8	16	(32	)	(6	)
Securities gains (losses), net - non-qualifying hedges on mortgage servicing rights	-	2	3	2		(1	)
Total noninterest income	740	660	1,101	575		563
Noninterest Expense
Compensation and benefits	584	641	610	506		503
Net occupancy expense	84	88	75	73		70
Technology and communications	100	136	83	79		71
Equipment expense	33	33	30	31		31
Card and processing expense	33	34	31	33		31
Other noninterest expense	325	311	268	253		266
Total noninterest expense	1,159	1,243	1,097	975		972
Income Before Income Taxes	689	577	996	584		550
Applicable income tax expense	140	124	221	129		114
Net Income	549	453	775	455		436
Less: Net income attributable to noncontrolling interests	-	-	-	-		-
Net Income Attributable to Bancorp	549	453	775	455		436
Dividends on preferred stock	19	26	15	23		15
Net Income Available to Common Shareholders	$530	$427	$760	$432		$421

16

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of						% Change
(unaudited)	September		June		September
	2019		2019		2018		Seq	Yr/Yr
Assets
Cash and due from banks	$3,261		$2,764		$2,100		18%	55%
Other short-term investments	3,235		3,357		1,429		(4%)	126%
Available-for-sale debt and other securities(a)	37,178		35,753		31,808		4%	17%
Held-to-maturity securities(b)	18		21		18		(14%)	-
Trading debt securities	297		322		269		(8%)	10%
Equity securities	459		485		500		(5%)	(8%)
Loans and leases held for sale	1,223		1,205		663		1%	84%
Portfolio loans and leases:
Commercial and industrial loans	50,768		51,104		42,631		(1%)	19%
Commercial mortgage loans	10,822		10,717		6,695		1%	62%
Commercial construction loans	5,281		5,264		4,892		-	8%
Commercial leases	3,495		3,677		3,697		(5%)	(5%)
Total commercial loans and leases	70,366		70,762		57,915		(1%)	21%
Residential mortgage loans	16,675		16,777		15,585		(1%)	7%
Home equity	6,218		6,325		6,485		(2%)	(4%)
Indirect secured consumer loans	11,026		10,403		9,002		6%	22%
Credit card	2,467		2,436		2,325		1%	6%
Other consumer loans	2,657		2,580		2,131		3%	25%
Total consumer loans	39,043		38,521		35,528		1%	10%
Portfolio loans and leases	109,409		109,283		93,443		-	17%
Allowance for loan and lease losses	(1,143	)	(1,115	)	(1,091	)	3%	5%
Portfolio loans and leases, net	108,266		108,168		92,352		-	17%
Bank premises and equipment	2,053		2,074		1,896		(1%)	8%
Operating lease equipment	869		894		546		(3%)	59%
Goodwill	4,290		4,284		2,462		-	74%
Intangible assets	201		215		28		(7%)	618%
Servicing rights	910		1,039		1,010		(12%)	(10%)
Other assets	8,819		8,221		6,509		7%	35%
Total Assets	$171,079		$168,802		$141,590		1%	21%
Liabilities
Deposits:
Demand	$35,893		$35,589		$31,803		1%	13%
Interest checking	36,965		37,491		30,288		(1%)	22%
Savings	14,354		14,484		13,027		(1%)	10%
Money market	27,370		26,465		21,977		3%	25%
Foreign office	226		175		298		29%	(24%)
Other time	5,662		5,759		4,249		(2%)	33%
Certificates $100,000 and over	4,377		5,429		2,700		(19%)	62%
Other deposits	500		-		-		NM	NM
Total deposits	125,347		125,392		104,342		-	20%
Federal funds purchased	876		179		2,316		389%	(62%)
Other short-term borrowings	4,046		957		1,114		323%	263%
Accrued taxes, interest and expenses	2,507		2,397		1,209		5%	107%
Other liabilities	2,425		3,422		2,448		(29%)	(1%)
Long-term debt	14,474		15,784		14,460		(8%)	-
Total Liabilities	149,675		148,131		125,889		1%	19%
Equity
Common stock(c)	2,051		2,051		2,051		-	-
Preferred stock	1,770		1,331		1,331		33%	33%
Capital surplus	3,589		3,572		2,856		-	26%
Retained earnings	17,786		17,431		16,291		2%	9%
Accumulated other comprehensive income (loss)	1,635		1,178		(775	)	39%	(311%)
Treasury stock	(5,427	)	(5,089	)	(6,073	)	7%	(11%)
Total Bancorp shareholders’ equity	21,404		20,474		15,681		5%	36%
Noncontrolling interests	-		197		20		(100%)	(100%)
Total Equity	21,404		20,671		15,701		4%	36%
Total Liabilities and Equity	$171,079		$168,802		$141,590		1%	21%
(a)    Amortized cost	$35,662		$34,731		$32,707		3%	9%
(b)    Market values	18		21		18		(14%)	-
(c)    Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000		2,000,000		2,000,000		-	-
Outstanding, excluding treasury	718,583		731,474		661,373		(2%)	9%
Treasury	205,309		192,419		262,520		7%	(22%)

17

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of
(unaudited)	September		June		March		December		September
	2019		2019		2019		2018		2018
Assets
Cash and due from banks	$3,261		$2,764		$2,749		$2,681		$2,100
Other short-term investments	3,235		3,357		3,556		1,825		1,429
Available-for-sale debt and other securities(a)	37,178		35,753		35,048		32,830		31,808
Held-to-maturity securities(b)	18		21		21		18		18
Trading debt securities	297		322		325		287		269
Equity securities	459		485		426		452		500
Loans and leases held for sale	1,223		1,205		692		607		663
Portfolio loans and leases:
Commercial and industrial loans	50,768		51,104		51,862		44,340		42,631
Commercial mortgage loans	10,822		10,717		10,686		6,974		6,695
Commercial construction loans	5,281		5,264		5,231		4,657		4,892
Commercial leases	3,495		3,677		3,909		3,600		3,697
Total commercial loans and leases	70,366		70,762		71,688		59,571		57,915
Residential mortgage loans	16,675		16,777		16,811		15,504		15,585
Home equity	6,218		6,325		6,435		6,402		6,485
Indirect secured consumer loans	11,026		10,403		10,031		8,976		9,002
Credit card	2,467		2,436		2,388		2,470		2,325
Other consumer loans	2,657		2,580		2,489		2,342		2,131
Total consumer loans	39,043		38,521		38,154		35,694		35,528
Portfolio loans and leases	109,409		109,283		109,842		95,265		93,443
Allowance for loan and lease losses	(1,143	)	(1,115	)	(1,115	)	(1,103	)	(1,091	)
Portfolio loans and leases, net	108,266		108,168		108,727		94,162		92,352
Bank premises and equipment	2,053		2,074		2,092		1,861		1,896
Operating lease equipment	869		894		908		518		546
Goodwill	4,290		4,284		4,321		2,478		2,462
Intangible assets	201		215		218		40		28
Servicing rights	910		1,039		1,141		938		1,010
Other assets	8,819		8,221		7,629		7,372		6,509
Total Assets	$171,079		$168,802		$167,853		$146,069		$141,590
Liabilities
Deposits:
Demand	$35,893		$35,589		$35,963		$32,116		$31,803
Interest checking	36,965		37,491		35,746		34,058		30,288
Savings	14,354		14,484		14,451		12,907		13,027
Money market	27,370		26,465		25,942		22,597		21,977
Foreign office	226		175		154		240		298
Other time	5,662		5,759		5,539		4,490		4,249
Certificates $100,000 and over	4,377		5,429		5,569		2,427		2,700
Other deposits	500		-		300		-		-
Total deposits	125,347		125,392		123,664		108,835		104,342
Federal funds purchased	876		179		2,630		1,925		2,316
Other short-term borrowings	4,046		957		1,329		573		1,114
Accrued taxes, interest and expenses	2,507		2,397		2,242		1,562		1,209
Other liabilities	2,425		3,422		2,661		2,498		2,448
Long-term debt	14,474		15,784		15,483		14,426		14,460
Total Liabilities	149,675		148,131		148,009		129,819		125,889
Equity
Common stock(c)	2,051		2,051		2,051		2,051		2,051
Preferred stock	1,770		1,331		1,331		1,331		1,331
Capital surplus	3,589		3,572		3,444		2,873		2,856
Retained earnings	17,786		17,431		17,184		16,578		16,291
Accumulated other comprehensive income (loss)	1,635		1,178		409		(112	)	(775	)
Treasury stock	(5,427	)	(5,089	)	(4,772	)	(6,471	)	(6,073	)
Total Bancorp shareholders’ equity	21,404		20,474		19,647		16,250		15,681
Noncontrolling interests	-		197		197		-		20
Total Equity	21,404		20,671		19,844		16,250		15,701
Total Liabilities and Equity	$171,079		$168,802		$167,853		$146,069		$141,590
(a)    Amortized cost	$35,662		$34,731		$34,784		$33,128		$32,707
(b)    Market values	18		21		21		18		18
(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	718,583		731,474		739,406		646,631		661,373
Treasury	205,309		192,419		184,486		277,262		262,520

18

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions	For the Three Months Ended						Year to Date
(unaudited)	September			September			September			September
	2019			2018			2019			2018
Total Equity, Beginning		$20,671			$16,100			$16,250			$16,220
Net income attributable to Bancorp		549			436			1,778			1,737
Other comprehensive income, net of tax:
Change in unrealized gains (losses):
Available-for-sale securities		377			(207	)		1,385			(827	)
Qualifying cash flow hedges		79			(17	)		359			(22	)
Change in accumulated other comprehensive income related to employee benefit plans		1			1			3			3
Comprehensive income		1,006			213			3,525			891
Cash dividends declared:
Common stock		(175	)		(121	)		(518	)		(355	)
Preferred stock		(19	)		(15	)		(60	)		(52	)
Issuance of preferred stock		439			-			439			-
Impact of stock transactions under stock compensation plans, net		24			24			59			46
Shares acquired for treasury		(350	)		(500	)		(1,463	)		(1,053	)
Impact of MB Financial, Inc. acquisition		-			-			3,159			-
Noncontrolling interest		(197	)		-			-			-
Other		5			-			3			-
Impact of cumulative effect of change in account principles		-			-			10			4
Total Equity, Ending		$21,404			$15,701			$21,404			$15,701

19

Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield/Rate Analysis
$ in millions	For the Three Months Ended							% Change					Year to Date					% Change
(unaudited)		September		June		September								September		September
		2019		2019		2018			Seq		Yr/Yr			2019		2018		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans		$51,364		$52,187		$42,614			(2%)		21%			$49,895		$42,249		18%
Commercial mortgage loans		10,695		10,635		6,664			1%		60%			9,593		6,591		46%
Commercial construction loans		5,267		5,248		4,870			-		8%			5,119		4,762		7%
Commercial leases		3,563		3,811		3,746			(7%)		(5%)			3,643		3,850		(5%)
Total commercial loans and leases		70,889		71,881		57,894			(1%)		22%			68,250		57,452		19%
Residential mortgage loans		17,733		17,589		16,226			1%		9%			17,163		16,176		6%
Home equity		6,267		6,376		6,529			(2%)		(4%)			6,333		6,695		(5%)
Indirect secured consumer loans		10,707		10,190		8,969			5%		19%			10,030		9,000		11%
Credit card		2,448		2,408		2,299			2%		6%			2,418		2,248		8%
Other consumer loans		2,622		2,549		2,060			3%		27%			2,525		1,792		41%
Total consumer loans		39,777		39,112		36,083			2%		10%			38,469		35,911		7%
Taxable securities		35,653		35,467		33,301			1%		7%			35,151		33,272		6%
Tax exempt securities		38		40		69			(5%)		(45%)			35		75		(53%)
Other short-term investments		2,497		2,290		1,452			9%		72%			2,183		1,466		49%
Total interest-earning assets		148,854		148,790		128,799			-		16%			144,088		128,176		12%
Cash and due from banks		2,769		2,931		2,193			(6%)		26%			2,641		2,182		21%
Other assets		19,077		16,972		11,739			12%		63%			16,501		12,289		34%
Allowance for loan and lease losses		(1,115	)	(1,115	)	(1,077	)		-		4%			(1,111	)	(1,136	)	(2%)
Total Assets		$169,585		$167,578		$141,654			1%		20%			$162,119		$141,511		15%
Liabilities
Interest-bearing liabilities:
Interest checking deposits		$37,729		$36,514		$29,681			3%		27%			$35,995		$28,938		24%
Savings deposits		14,405		14,418		13,231			-		9%			13,963		13,463		4%
Money market deposits		26,962		25,934		21,753			4%		24%			25,357		21,517		18%
Foreign office deposits		222		163		317			36%		(30%)			198		393		(50%)
Other time deposits		5,823		5,678		4,177			3%		39%			5,457		4,018		36%
Total interest-bearing core deposits		85,141		82,707		69,159			3%		23%			80,970		68,329		19%
Certificates $100,000 and over		4,795		5,780		2,596			(17%)		85%			4,650		2,346		98%
Other deposits		47		40		578			18%		(92%)			269		385		(30%)
Federal funds purchased		739		1,151		1,987			(36%)		(63%)			1,298		1,258		3%
Other short-term borrowings		1,278		1,119		1,018			14%		26%			1,017		1,959		(48%)
Long-term debt		15,633		15,543		14,434			1%		8%			15,538		14,598		6%
Total interest-bearing liabilities		107,633		106,340		89,772			1%		20%			103,742		88,875		17%
Demand deposits		35,223		35,818		32,333			(2%)		9%			33,883		32,992		3%
Other liabilities		5,522		5,088		3,535			9%		56%			4,950		3,594		38%
Total Liabilities		148,378		147,246		125,640			1%		18%			142,575		125,461		14%
Total Equity		21,207		20,332		16,014			4%		32%			19,544		16,050		22%
Total Liabilities and Equity		$169,585		$167,578		$141,654			1%		20%			$162,119		$141,511		15%
	For the Three Months Ended							bps Change					Year to Date					bps Change
		September		June		September								September		September
Yield/Rate Analysis		2019		2019		2018			Seq		Yr/Yr			2019		2018		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		4.66%		4.79%		4.32%			(13	)	34			4.71%		4.18%		53
Commercial mortgage loans(a)		4.86%		5.11%		4.57%			(25	)	29			4.94%		4.40%		54
Commercial construction loans(a)		5.39%		5.71%		5.14%			(32	)	25			5.55%		4.90%		65
Commercial leases(a)		3.34%		3.51%		2.85%			(17	)	49			3.31%		2.82%		49
Total commercial loans and leases		4.68%		4.84%		4.32%			(16	)	36			4.73%		4.17%		56
Residential mortgage loans		3.67%		3.70%		3.58%			(3	)	9			3.69%		3.58%		11
Home equity		5.20%		5.30%		5.03%			(10	)	17			5.28%		4.83%		45
Indirect secured consumer loans		4.22%		4.11%		3.47%			11		75			4.05%		3.29%		76
Credit card		12.57%		12.38%		12.17%			19		40			12.52%		12.16%		36
Other consumer loans		7.69%		7.58%		6.98%			11		71			7.59%		6.79%		80
Total consumer loans		4.87%		4.85%		4.56%			2		31			4.86%		4.44%		42
Total loans and leases		4.75%		4.84%		4.41%			(9	)	34			4.78%		4.28%		50
Taxable securities		3.24%		3.28%		3.20%			(4	)	4			3.28%		3.20%		8
Tax exempt securities(a)		3.18%		3.50%		4.35%			(32	)	(117	)		3.72%		3.28%		44
Other short-term investments		2.18%		1.80%		1.74%			38		44			1.99%		1.58%		41
Total interest-earning assets		4.34%		4.42%		4.07%			(8	)	27			4.37%		3.97%		40
Interest-bearing liabilities:
Interest checking deposits		1.12%		1.17%		0.88%			(5	)	24			1.15%		0.76%		39
Savings deposits		0.18%		0.17%		0.11%			1		7			0.17%		0.09%		8
Money market deposits		1.13%		1.14%		0.80%			(1	)	33			1.11%		0.68%		43
Foreign office deposits		0.37%		0.53%		0.33%			(16	)	4			0.49%		0.28%		21
Other time deposits		1.79%		1.84%		1.48%			(5	)	31			1.81%		1.36%		45
Total interest-bearing core deposits		1.01%		1.03%		0.74%			(2	)	27			1.01%		0.64%		37
Certificates $100,000 and over		2.20%		2.10%		1.85%			10		35			2.14%		1.58%		56
Other deposits		1.97%		2.92%		1.95%			(95	)	2			2.43%		1.76%		67
Federal funds purchased		2.06%		2.61%		1.96%			(55	)	10			2.42%		1.80%		62
Other short-term borrowings		2.55%		3.08%		2.22%			(53	)	33			2.97%		1.70%		127
Long-term debt		3.26%		3.39%		3.09%			(13	)	17			3.33%		3.02%		31
Total interest-bearing liabilities		1.41%		1.47%		1.20%			(6	)	21			1.45%		1.10%		35
(a)    Presented on an FTE basis.

20

Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield/Rate Analysis
$ in millions	For the Three Months Ended
(unaudited)	September		June		March		December		September
	2019		2019		2019		2018		2018
Assets
Interest-earning assets:
Commercial and industrial loans	$51,364		$52,187		$46,070		$43,911		$42,614
Commercial mortgage loans	10,695		10,635		7,417		6,868		6,664
Commercial construction loans	5,267		5,248		4,838		4,885		4,870
Commercial leases	3,563		3,811		3,555		3,633		3,746
Total commercial loans and leases	70,889		71,881		61,880		59,297		57,894
Residential mortgage loans	17,733		17,589		16,150		16,074		16,226
Home equity	6,267		6,376		6,356		6,438		6,529
Indirect secured consumer loans	10,707		10,190		9,176		8,970		8,969
Credit card	2,448		2,408		2,396		2,373		2,299
Other consumer loans	2,622		2,549		2,404		2,246		2,060
Total consumer loans	39,777		39,112		36,482		36,101		36,083
Taxable securities	35,653		35,467		34,320		34,126		33,301
Tax exempt securities	38		40		28		40		69
Other short-term investments	2,497		2,290		1,753		1,508		1,452
Total interest-earning assets	148,854		148,790		134,463		131,072		128,799
Cash and due from banks	2,769		2,931		2,217		2,253		2,193
Other assets	19,077		16,972		13,391		11,952		11,739
Allowance for loan and lease losses	(1,115	)	(1,115	)	(1,103	)	(1,092	)	(1,077	)
Total Assets	$169,585		$167,578		$148,968		$144,185		$141,654
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$37,729		$36,514		$33,697		$32,428		$29,681
Savings deposits	14,405		14,418		13,052		12,933		13,231
Money market deposits	26,962		25,934		23,133		22,517		21,753
Foreign office deposits	222		163		208		272		317
Other time deposits	5,823		5,678		4,860		4,366		4,177
Total interest-bearing core deposits	85,141		82,707		74,950		72,516		69,159
Certificates $100,000 and over	4,795		5,780		3,358		2,662		2,596
Other deposits	47		40		726		746		578
Federal funds purchased	739		1,151		2,019		2,254		1,987
Other short-term borrowings	1,278		1,119		646		578		1,018
Long-term debt	15,633		15,543		15,438		14,420		14,434
Total interest-bearing liabilities	107,633		106,340		97,137		93,176		89,772
Demand deposits	35,223		35,818		30,557		31,571		32,333
Other liabilities	5,522		5,088		4,227		3,631		3,535
Total Liabilities	148,378		147,246		131,921		128,378		125,640
Total Equity	21,207		20,332		17,047		15,807		16,014
Total Liabilities and Equity	$169,585		$167,578		$148,968		$144,185		$141,654
Yield/Rate Analysis
Interest-earning assets:
Commercial and industrial loans(a)	4.66%		4.79%		4.67%		4.56%		4.32%
Commercial mortgage loans(a)	4.86%		5.11%		4.80%		4.67%		4.57%
Commercial construction loans(a)	5.39%		5.71%		5.55%		5.33%		5.14%
Commercial leases(a)	3.34%		3.51%		3.08%		2.89%		2.85%
Total commercial loans and leases	4.68%		4.84%		4.66%		4.54%		4.32%
Residential mortgage loans	3.67%		3.70%		3.71%		3.63%		3.58%
Home equity	5.20%		5.30%		5.34%		5.21%		5.03%
Indirect secured consumer loans	4.22%		4.11%		3.79%		3.64%		3.47%
Credit card	12.57%		12.38%		12.63%		12.50%		12.17%
Other consumer loans	7.69%		7.58%		7.49%		7.28%		6.98%
Total consumer loans	4.87%		4.85%		4.85%		4.72%		4.56%
Total loans and leases	4.75%		4.84%		4.73%		4.61%		4.41%
Taxable securities	3.24%		3.28%		3.32%		3.27%		3.20%
Tax exempt securities(a)	3.18%		3.50%		4.80%		3.86%		4.35%
Other short-term investments	2.18%		1.80%		1.97%		1.96%		1.74%
Total interest-earning assets	4.34%		4.42%		4.33%		4.23%		4.07%
Interest-bearing liabilities:
Interest checking deposits	1.12%		1.17%		1.18%		1.07%		0.88%
Savings deposits	0.18%		0.17%		0.15%		0.13%		0.11%
Money market deposits	1.13%		1.14%		1.03%		0.91%		0.80%
Foreign office deposits	0.37%		0.53%		0.60%		0.54%		0.33%
Other time deposits	1.79%		1.84%		1.80%		1.65%		1.48%
Total interest-bearing core deposits	1.01%		1.03%		0.99%		0.88%		0.74%
Certificates $100,000 and over	2.20%		2.10%		2.13%		1.97%		1.85%
Other deposits	1.97%		2.92%		2.43%		2.23%		1.95%
Federal funds purchased	2.06%		2.61%		2.43%		2.25%		1.96%
Other short-term borrowings	2.55%		3.08%		3.62%		3.01%		2.22%
Long-term debt	3.26%		3.39%		3.35%		3.18%		3.09%
Total interest-bearing liabilities	1.41%		1.47%		1.46%		1.33%		1.20%
Ratios:
Net interest margin (FTE)(b)	3.32%		3.37%		3.28%		3.29%		3.23%
Net interest rate spread (FTE)(b)	2.93%		2.95%		2.87%		2.90%		2.87%
Interest-bearing liabilities to interest-earning assets	72.31%		71.47%		72.24%		71.09%		69.70%
(a)  Presented on an FTE basis.
(b)  Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

21

Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millions	For the Three Months Ended
(unaudited)	September	June	March	December	September
	2019	2019	2019	2018	2018
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$51,241	$52,078	$46,011	$43,829	$42,494
Commercial mortgage loans	10,692	10,632	7,414	6,864	6,635
Commercial construction loans	5,267	5,248	4,838	4,885	4,870
Commercial leases	3,562	3,809	3,555	3,632	3,738
Total commercial loans and leases	70,762	71,767	61,818	59,210	57,737
Consumer loans:
Residential mortgage loans	16,736	16,804	15,624	15,520	15,598
Home equity	6,267	6,376	6,355	6,438	6,529
Indirect secured consumer loans	10,707	10,190	9,176	8,970	8,969
Credit card	2,448	2,408	2,396	2,373	2,299
Other consumer loans	2,621	2,550	2,404	2,246	2,060
Total consumer loans	38,779	38,328	35,955	35,547	35,455
Total average portfolio loans and leases	$109,541	$110,095	$97,773	$94,757	$93,192
Average Loans and Leases Held for Sale
Average commercial loans and leases held for sale	$127	$113	$62	$88	$157
Average consumer loans held for sale	998	785	527	553	628
Average loans and leases held for sale	$1,125	$898	$589	$641	$785
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$50,768	$51,104	$51,862	$44,340	$42,631
Commercial mortgage loans	10,822	10,717	10,686	6,974	6,695
Commercial construction loans	5,281	5,264	5,231	4,657	4,892
Commercial leases	3,495	3,677	3,909	3,600	3,697
Total commercial loans and leases	70,366	70,762	71,688	59,571	57,915
Consumer loans:
Residential mortgage loans	16,675	16,777	16,811	15,504	15,585
Home equity	6,218	6,325	6,435	6,402	6,485
Indirect secured consumer loans	11,026	10,403	10,031	8,976	9,002
Credit card	2,467	2,436	2,388	2,470	2,325
Other consumer loans	2,657	2,580	2,489	2,342	2,131
Total consumer loans	39,043	38,521	38,154	35,694	35,528
Total portfolio loans and leases	$109,409	$109,283	$109,842	$95,265	$93,443
End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale	$86	$174	$66	$70	$100
Consumer loans held for sale	1,137	1,031	626	537	563
Loans and leases held for sale	$1,223	$1,205	$692	$607	$663
Operating lease equipment	$869	$894	$908	$518	$546
Loans and Leases Serviced for Others(a)
Commercial and industrial loans	$916	$977	$1,024	$514	$465
Commercial mortgage loans	446	438	467	292	294
Commercial construction loans	392	323	261	130	108
Commercial leases	345	358	216	224	225
Residential mortgage loans	82,702	84,597	83,900	63,154	63,996
Other consumer loans	50	50	50	50	50
Total loans and leases serviced for others	84,851	86,743	85,918	64,364	65,138
Total loans and leases serviced	$196,352	$198,125	$197,360	$160,754	$159,790
(a)  Fifth Third sells certain loans and leases and obtains servicing responsibilities.

22

Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millions	As of
(unaudited)	September	June	March	December	September
	2019(a)	2019	2019	2018	2018
Regulatory Capital
CET1 capital	$13,568	$13,532	$13,430	$12,534	$12,809
Additional tier I capital	1,769	1,493	1,493	1,330	1,331
Tier I capital	15,337	15,025	14,923	13,864	14,140
Tier II capital	4,085	4,111	4,048	3,859	3,792
Total regulatory capital	$19,422	$19,136	$18,971	$17,723	$17,932
Risk-weighted assets(b)	$141,880	$141,421	$139,844	$122,432	$120,002
Ratios
Average total Bancorp shareholders’ equity as a percent of average assets	12.43%	12.02%	11.43%	10.95%	11.29%
Regulatory Capital Ratios
Fifth Third Bancorp
CET1 capital(b)	9.56%	9.57%	9.60%	10.24%	10.67%
Tier I risk-based capital(b)	10.81%	10.62%	10.67%	11.32%	11.78%
Total risk-based capital(b)	13.69%	13.53%	13.57%	14.48%	14.94%
Tier I leverage	9.36%	9.24%	10.32%	9.72%	10.10%
Fifth Third Bank
Tier I risk-based capital(b)	11.79%	11.67%	12.22%	11.93%	12.27%
Total risk-based capital(b)	13.38%	13.23%	13.86%	13.57%	13.94%
Tier I leverage	10.26%	10.59%	10.49%	10.27%	10.56%

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

(b) Under the U.S. 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.

23

Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millions	For the Three Months Ended
(unaudited)	September			June			March			December			September
	2019			2019			2019			2018			2018
Average portfolio loans and leases:
Commercial and industrial loans		$51,241			$52,078			$46,011			$43,829			$42,494
Commercial mortgage loans		10,692			10,632			7,414			6,864			6,635
Commercial construction loans		5,267			5,248			4,838			4,885			4,870
Commercial leases		3,562			3,809			3,555			3,632			3,738
Total commercial loans and leases		70,762			71,767			61,818			59,210			57,737
Residential mortgage loans		16,736			16,804			15,624			15,520			15,598
Home equity		6,267			6,376			6,355			6,438			6,529
Indirect secured consumer loans		10,707			10,190			9,176			8,970			8,969
Credit card		2,448			2,408			2,396			2,373			2,299
Other consumer loans		2,621			2,550			2,404			2,246			2,060
Total consumer loans		38,779			38,328			35,955			35,547			35,455
Total average portfolio loans and leases		$109,541			$110,095			$97,773			$94,757			$93,192
Losses charged-off:
Commercial and industrial loans		($30	)		($30	)		($20	)		($32	)		($36	)
Commercial mortgage loans		-			-			-			(1	)		-
Commercial leases		(4	)		(3	)		-			(1	)		-
Total commercial loans and leases		(34	)		(33	)		(20	)		(34	)		(36	)
Residential mortgage loans		(2	)		(1	)		(2	)		(3	)		(3	)
Home equity		(5	)		(6	)		(6	)		(5	)		(6	)
Indirect secured consumer loans		(21	)		(15	)		(20	)		(19	)		(15	)
Credit card		(38	)		(40	)		(38	)		(34	)		(33	)
Other consumer loans		(30	)		(24	)		(22	)		(21	)		(19	)
Total consumer loans		(96	)		(86	)		(88	)		(82	)		(76	)
Total losses charged-off		($130	)		($119	)		($108	)		($116	)		($112	)
Recoveries of losses previously charged-off:
Commercial and industrial loans		$1			$10			$2			$2			$8
Commercial mortgage loans		-			-			1			3			1
Commercial leases		-			-			-			-			-
Total commercial loans and leases		1			10			3			5			9
Residential mortgage loans		1			2			1			2			1
Home equity		3			3			3			3			3
Indirect secured consumer loans		8			8			7			6			6
Credit card		5			5			5			5			12
Other consumer loans		13			13			12			12			9
Total consumer loans		30			31			28			28			31
Total recoveries of losses previously charged-off		$31			$41			$31			$33			$40
Net losses charged-off:
Commercial and industrial loans		($29	)		($20	)		($18	)		($30	)		($28	)
Commercial mortgage loans		-			-			1			2			1
Commercial leases		(4	)		(3	)		-			(1	)		-
Total commercial loans and leases		(33	)		(23	)		(17	)		(29	)		(27	)
Residential mortgage loans		(1	)		1			(1	)		(1	)		(2	)
Home equity		(2	)		(3	)		(3	)		(2	)		(3	)
Indirect secured consumer loans		(13	)		(7	)		(13	)		(13	)		(9	)
Credit card		(33	)		(35	)		(33	)		(29	)		(21	)
Other consumer loans		(17	)		(11	)		(10	)		(9	)		(10	)
Total consumer loans		(66	)		(55	)		(60	)		(54	)		(45	)
Total net losses charged-off		($99	)		($78	)		($77	)		($83	)		($72	)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.22%			0.15%			0.16%			0.27%			0.26%
Commercial mortgage loans		(0.01%	)		0.00%			(0.05%	)		(0.15%	)		(0.03%	)
Commercial leases		0.41%			0.32%			0.02%			0.12%			0.00%
Total commercial loans and leases		0.18%			0.13%			0.11%			0.19%			0.19%
Residential mortgage loans		0.03%			(0.02%	)		0.02%			0.02%			0.04%
Home equity		0.16%			0.18%			0.20%			0.15%			0.16%
Indirect secured consumer loans		0.50%			0.30%			0.57%			0.54%			0.41%
Credit card		5.41%			5.75%			5.60%			4.84%			3.53%
Other consumer loans		2.47%			1.84%			1.76%			1.83%			1.94%
Total consumer loans		0.68%			0.59%			0.68%			0.61%			0.50%
Total net losses charged-off as a percent of average portfolio loans and leases		0.36%			0.29%			0.32%			0.35%			0.30%

24

Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions	For the Three Months Ended
(unaudited)	September		June		March		December		September
	2019		2019		2019		2018		2018
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$1,115		$1,115		$1,103		$1,091		$1,077
Total net losses charged-off	(99	)	(78	)	(77	)	(83	)	(72	)
Provision for loan and lease losses	127		78		89		95		86
Allowance for loan and lease losses, ending	$1,143		$1,115		$1,115		$1,103		$1,091
Reserve for unfunded commitments, beginning	$147		$133		$131		$129		$131
Reserve for acquired commitments	-		7		1		-		-
Provision for (benefit from) the reserve for unfunded commitments	7		7		1		2		(2	)
Reserve for unfunded commitments, ending	$154		$147		$133		$131		$129
Components of allowance for credit losses:
Allowance for loan and lease losses	$1,143		$1,115		$1,115		$1,103		$1,091
Reserve for unfunded commitments	154		147		133		131		129
Total allowance for credit losses	$1,297		$1,262		$1,248		$1,234		$1,220
	As of
	September		June		March		December		September
	2019		2019		2019		2018		2018
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$70		$135		$112		$54		$69
Commercial mortgage loans	17		20		24		9		7
Commercial leases	27		31		18		18		22
Residential mortgage loans	12		11		15		11		11
Home equity	63		61		62		55		58
Indirect secured consumer loans	1		1		2		-		-
Other consumer loans	2		2		2		1		1
Total nonaccrual portfolio loans and leases (excludes restructured loans)	192		261		235		148		168
Nonaccrual restructured portfolio commercial loans and leases	235		204		159		147		180
Nonaccrual restructured portfolio consumer loans and leases	55		56		56		53		55
Total nonaccrual portfolio loans and leases	482		521		450		348		403
Repossessed property	9		8		11		10		8
OREO	28		31		37		37		37
Total nonperforming portfolio assets	519		560		498		395		448
Nonaccrual loans held for sale	-		4		-		-		18
Nonaccrual restructured loans held for sale	13		23		14		16		17
Total nonperforming assets	$532		$587		$512		$411		$483
Restructured portfolio consumer loans and leases (accrual)	$958		$958		$950		$961		$987
Restructured portfolio commercial loans and leases (accrual)	$34		$32		$59		$60		$80
Loans and leases 90 days past due (accrual):
Commercial and industrial loans	$15		$19		$15		$4		$3
Commercial mortgage loans	18		11		20		2		1
Commercial construction loans	1		1		-		-		-
Commercial leases	1		-		-		-		-
Total commercial loans and leases	35		31		35		6		4
Residential mortgage loans	48		47		48		38		40
Home equity	-		1		1		-		-
Indirect secured consumer loans	10		11		9		12		11
Credit card	38		37		38		37		32
Other consumer loans	1		1		1		-		-
Total consumer loans	97		97		97		87		83
Total loans and leases 90 days past due (accrual)(b)	$132		$128		$132		$93		$87
Ratios
Net losses charged-off as a percent of average portfolio loans and leases	0.36%		0.29%		0.32%		0.35%		0.30%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases	1.04%		1.02%		1.02%		1.16%		1.17%
As a percent of nonperforming portfolio loans and leases(a)	237%		214%		248%		317%		270%
As a percent of nonperforming portfolio assets(a)	221%		199%		224%		279%		243%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases and OREO(a)	0.44%		0.48%		0.41%		0.37%		0.43%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)	0.47%		0.51%		0.45%		0.41%		0.48%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property	0.48%		0.53%		0.46%		0.43%		0.51%
(a)  Excludes nonaccrual loans held for sale. (b)  Excludes loans held for sale.

25

Use of Non-GAAP Financial Measures

In addition to GAAP measures, management considers various Non-GAAP measures when evaluating the performance of the business, including: “net interest income (FTE),” “interest income (FTE),” “net interest margin (FTE),” “net interest rate spread (FTE),” “income before income taxes (FTE),” “tangible net income available to common shareholders,” “average tangible common equity,” “return on average tangible common equity,” “tangible common equity (excluding AOCI),” “tangible common equity (including AOCI),” “tangible equity,” “tangible book value per share,” “adjusted noninterest income,” “adjusted noninterest expense,” “pre-provision net revenue,” “adjusted efficiency ratio,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” “adjusted return on average tangible common equity, excluding accumulated other comprehensive income,” “adjusted net interest margin,” “adjusted pre-provision net revenue,” “adjusted return on average assets,” “efficiency ratio (FTE),” “total revenue (FTE),” and certain ratios derived from these measures. The Bancorp believes these non-GAAP measures provide useful information to investors because these are among the measures used by the Fifth Third management team to evaluate operating performance and make day-to-day operating decisions.

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

The Bancorp believes tangible net income available to common shareholders, average tangible common equity, tangible common equity (excluding AOCI), tangible common equity (including AOCI), tangible equity, tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of the business without the impacts of intangible items, whether acquired or created internally, compared to other companies in the industry who present similar measures.

The Bancorp believes noninterest income, noninterest expense, net interest income, net interest margin, pre-provision net revenue, efficiency ratio, return on average common equity, return on average tangible common equity, and return on average assets are important measures that adjust for significant, unusual, or large transactions that may occur in a reporting period which management does not consider indicative of on-going financial performance and enhances comparability of results with prior periods.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding AOCI), 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 AOCI on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of changes in AOCI some of which are uncertain and providing the tangible common equity ratio including AOCI enables investors and others to assess the Bancorp’s use of equity if components of AOCI, such as unrealized gains or losses, were to be monetized.

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 Reg. G reconciliations of all historical Non-GAAP measures used in this release to the most directly comparable GAAP measures, beginning on the following page.

26

Fifth Third Bancorp and Subsidiaries
Regulation G Non-GAAP Reconciliation
$ and shares in millions	For the Three Months Ended
(unaudited)	September			June			March			December			September
	2019			2019			2019			2018			2018
Net interest income		$1,242			$1,245			$1,082			$1,081			$1,043
Add: Taxable equivalent adjustment		4			5			4			4			4
Net interest income (FTE) (a)		1,246			1,250			1,086			1,085			1,047
Net interest income (annualized) (b)		4,928			4,994			4,388			4,289			4,138
Net interest income (FTE) (annualized) (c)		4,943			5,014			4,404			4,305			4,154
Net interest income (FTE)		1,246			1,250			1,086			1,085			1,047
Less: Net interest income impact from purchase accounting accretion		28			18			1			-			-
Adjusted net interest income (FTE) (d)		1,218			1,232			1,085			1,085			1,047
Adjusted net interest income (FTE) (annualized) (e)		4,832			4,942			4,400			4,305			4,154
Interest income		1,625			1,636			1,433			1,393			1,315
Add: Taxable equivalent adjustment		4			5			4			4			4
Interest income (FTE)		1,629			1,641			1,437			1,397			1,319
Interest income (FTE) (annualized) (f)		6,463			6,582			5,828			5,542			5,233
Interest expense (annualized) (g)		1,520			1,568			1,424			1,238			1,079
Average interest-earning assets (h)		148,854			148,790			134,463			131,072			128,799
Average interest-bearing liabilities (i)		107,633			106,340			97,137			93,176			89,772
Net interest margin (b) / (h)		3.31%			3.36%			3.26%			3.27%			3.21%
Net interest margin (FTE) (c) / (h)		3.32%			3.37%			3.28%			3.29%			3.23%
Adjusted net interest margin (e) / (h)		3.25%			3.32%			3.28%			3.29%			3.23%
Net interest rate spread (FTE) (f) / (h) - (g) / (i)		2.93%			2.95%			2.87%			2.90%			2.87%
Income before income taxes		$689			$577			$996			$584			$550
Add:   Taxable equivalent adjustment		4			5			4			4			4
Income before income taxes (FTE)		$693			$582			$1,000			$588			$554
Net income available to common shareholders		$530			$427			$760			$432			$421
Add:   Intangible amortization, net of tax		11			11			2			1			1
Tangible net income available to common shareholders (j)		541			438			762			433			422
Tangible net income available to common shareholders (annualized) (k)		2,146			1,757			3,090			1,718			1,674
Average Bancorp shareholders’ equity		21,087			20,135			17,025			15,794			15,994
Less:  Average preferred stock		(1,445	)		(1,331	)		(1,331	)		(1,331	)		(1,331	)
Average goodwill		(4,286	)		(4,301	)		(2,682	)		(2,468	)		(2,462	)
Average intangible assets		(208	)		(215	)		(58	)		(32	)		(29	)
Average tangible common equity, including accumulated other comprehensive income (“AOCI”) (l)		15,148			14,288			12,954			11,963			12,172
Less: Average AOCI		(1,444	)		(619	)		-			719			610
Average tangible common equity, excluding AOCI (m)		13,704			13,669			12,954			12,682			12,782
Total Bancorp shareholders’ equity		21,404			20,474			19,647			16,250			15,681
Less:  Preferred stock		(1,770	)		(1,331	)		(1,331	)		(1,331	)		(1,331	)
Goodwill		(4,290	)		(4,284	)		(4,321	)		(2,478	)		(2,462	)
Intangible assets		(201	)		(215	)		(218	)		(40	)		(28	)
Tangible common equity, including AOCI (n)		15,143			14,644			13,777			12,401			11,860
Less: AOCI		(1,635	)		(1,178	)		(409	)		112			775
Tangible common equity, excluding AOCI (o)		13,508			13,466			13,368			12,513			12,635
Add: Preferred stock		1,770			1,331			1,331			1,331			1,331
Tangible equity (p)		15,278			14,797			14,699			13,844			13,966
Total assets		171,079			168,802			167,853			146,069			141,590
Less:  Goodwill		(4,290	)		(4,284	)		(4,321	)		(2,478	)		(2,462	)
Intangible assets		(201	)		(215	)		(218	)		(40	)		(28	)
Tangible assets, including AOCI (q)		166,588			164,303			163,314			143,551			139,100
Less: AOCI, before tax		(2,070	)		(1,491	)		(518	)		142			981
Tangible assets, excluding AOCI (r)		$164,518			$162,812			$162,796			$143,693			$140,081
Common shares outstanding (s)		719			731			739			647			661
Tangible equity (p) / (r)		9.29%			9.09%			9.03%			9.63%			9.97%
Tangible common equity (excluding AOCI) (o) / (r)		8.21%			8.27%			8.21%			8.71%			9.02%
Tangible common equity (including AOCI) (n) / (q)		9.09%			8.91%			8.44%			8.64%			8.53%
Tangible book value per share (n) / (s)		$21.06			$20.03			$18.64			$19.17			$17.94

27

Fifth Third Bancorp and Subsidiaries
Regulation G Non-GAAP Reconciliation
$ in millions	For the Three Months Ended
(unaudited)	September		June		September
	2019		2019		2018
Net income attributable to Bancorp (t)	$549		$453		$436
Net income attributable to Bancorp (annualized) (u)	2,178		1,817		1,730
Adjustments (pre-tax items)
Merger-related expense	28		109		1
Valuation of Visa total return swap	11		22		17
GreenSky securities losses (gains)	-		-		8
Adjustments, after-tax (v)(a)	30		101		20
Noninterest income (w)	740		660		563
Valuation of Visa total return swap	11		22		17
GreenSky securities losses (gains)	-		-		8
Adjusted noninterest income (x)	751		682		588
Noninterest expense (y)	1,159		1,243		972
Merger-related expense	(28	)	(109	)	(1	)
Adjusted noninterest expense (z)	1,131		1,134		971
Intangible amortization expense	14		14		2
Adjusted noninterest expense excluding intangible amortization expense (aa)	1,117		1,120		969
Adjusted net income attributable to Bancorp (t) + (v)	579		554		456
Adjusted net income attributable to Bancorp (annualized) (ab)	2,297		2,222		1,809
Adjusted tangible net income available to common shareholders (j) + (v)	571		539		442
Adjusted tangible net income available to common shareholders (annualized) (ac)	2,265		2,162		1,754
Average assets (ad)	$169,585		$167,578		$141,654
Return on average tangible common equity (k) / (l)	14.2%		12.3%		13.8%
Adjusted return on average tangible common equity, including AOCI (ac) / (l)	15.0%		15.1%		14.4%
Adjusted return on average tangible common equity, excluding AOCI (ac) / (m)	16.5%		15.8%		13.7%
Return on average assets (u) / (ad)	1.28%		1.08%		1.22%
Adjusted return on average assets (ab) / (ad)	1.35%		1.33%		1.28%
Efficiency ratio (y) / [(a) + (x)]	58.4%		65.1%		60.4%
Adjusted efficiency ratio (aa) / [(d) + (x)]	56.7%		58.5%		59.3%
Total revenue (FTE) (a) + (w)	$1,986		$1,910		$1,610
Pre-provision net revenue (PPNR) (a) + (w) - (y)	$827		$667		$638
Adjusted pre-provision net revenue (PPNR) (d) + (x) - (aa)	$852		$794		$666

    (a) Assumes a 23% tax rate, except for merger-related expenses impacted by certain non-deductible items.

28

Fifth Third Bancorp and Subsidiaries
Segment Presentation
$ in millions
(unaudited)
For the three months ended September 30, 2019	Commercial     Banking		Branch     Banking(b)		Consumer     Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$627		$598		$88		$44		($111	)	$1,246
Provision for credit losses	(54	)	(58	)	(14	)	-		(8	)	(134	)
Net interest income after provision for credit losses	573		540		74		44		(119	)	1,112
Noninterest income	335		204		96		125		(20	)	740
Noninterest expense	(425	)	(469	)	(114	)	(129	)	(22	)	(1,159	)
Income (loss) before income taxes	483		275		56		40		(161	)	693
Applicable income tax (expense) benefit(a)	(90	)	(58	)	(12	)	(8	)	24		(144	)
Net income (loss)	393		217		44		32		(137	)	549
For the three months ended June 30, 2019	Commercial     Banking		Branch     Banking(b)		Consumer     Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$634		$620		$83		$48		($135	)	$1,250
(Provision for) benefit from credit losses	(25	)	(55	)	(7	)	-		2		(85	)
Net interest income after provision for credit losses	609		565		76		48		(133	)	1,165
Noninterest income	301		202		67		118		(28	)	660
Noninterest expense	(420	)	(467	)	(118	)	(135	)	(103	)	(1,243	)
Income (loss) before income taxes	490		300		25		31		(264	)	582
Applicable income tax (expense) benefit(a)	(95	)	(63	)	(5	)	(7	)	41		(129	)
Net income (loss)	395		237		20		24		(223	)	453
For the three months ended March 31, 2019	Commercial     Banking		Branch     Banking(b)		Consumer     Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$513		$584		$63		$49		($123	)	$1,086
Provision for credit losses	(20	)	(52	)	(13	)	-		(5	)	(90	)
Net interest income after provision for credit losses	493		532		50		49		(128	)	996
Noninterest income	227		183		61		114		516		1,101
Noninterest expense	(356	)	(440	)	(101	)	(130	)	(70	)	(1,097	)
Income before income taxes	364		275		10		33		318		1,000
Applicable income tax expense(a)	(70	)	(58	)	(2	)	(7	)	(88	)	(225	)
Net income	294		217		8		26		230		775
For the three months ended December 31, 2018	Commercial     Banking		Branch     Banking(b)		Consumer     Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$444		$544		$60		$48		($11	)	$1,085
Provision for credit losses(d)	(15	)	(47	)	(12	)	(5	)	(18	)	(97	)
Net interest income after provision for credit losses	429		497		48		43		(29	)	988
Noninterest income	237		196		58		110		(26	)	575
Noninterest expense(d)	(317	)	(424	)	(93	)	(122	)	(19	)	(975	)
Income (loss) before income taxes	349		269		13		31		(74	)	588
Applicable income tax (expense) benefit(a)	(80	)	(56	)	(3	)	(7	)	13		(133	)
Net income (loss)	269		213		10		24		(61	)	455
For the three months ended September 30, 2018	Commercial     Banking		Branch     Banking(b)		Consumer     Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$431		$525		$60		$46		($15	)	$1,047
(Provision for) benefit from credit losses(d)	11		(34	)	(10	)	(3	)	(48	)	(84	)
Net interest income after provision for credit losses	442		491		50		43		(63	)	963
Noninterest income	235		204		50		115		(41	)	563
Noninterest expense(d)	(307	)	(433	)	(100	)	(126	)	(6	)	(972	)
Income (loss) before income taxes	370		262		-		32		(110	)	554
Applicable income tax (expense) benefit(a)	(69	)	(55	)	-		(7	)	13		(118	)
Net income (loss)	301		207		-		25		(97	)	436

(a) Includes taxable equivalent adjustments of $4 million, $5 million, $4 million, $4 million and $4 million for the three months ended September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 30, 2018, respectively.

(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) Certain prior period data has been reclassified to conform to current period presentation.

29

EX-99.2

Fifth Third Bancorp 3Q19 Earnings Presentation October 22, 2019 Refer to earnings release dated October 22, 2019 for further information. Exhibit 99.2

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,” “is anticipated,” “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 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. We undertake no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this document. 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) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management systems; (14) losses related to fraud, theft or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) replacement of LIBOR; (24) weakness in the national or local economies; (25) global political and economic uncertainty or negative actions; (26) changes in interest rates; (27) changes and trends in capital markets; (28) fluctuation of Fifth Third’s stock price; (29) volatility in mortgage banking revenue; (30) litigation, investigations, and enforcement proceedings by governmental authorities; (31) breaches of contractual covenants, representations and warranties; (32) competition and changes in the financial services industry; (33) changing retail distribution strategies, customer preferences and behavior; (34) risks relating to Fifth Third’s ability to realize anticipated benefits of the merger with MB Financial, Inc.; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events or other natural disasters; and (43) the impact of reputational risk created by these or other 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. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. 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 a discussion of non-GAAP measures and reconciliations to the most directly comparable GAAP measures in later slides in this presentation, as well as on pages 26 through 28 of our 3Q19 earnings release. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of the Bancorp's control or cannot be reasonably predicted. For the same reasons, the Bancorp's management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

Strategic priorities 1 2 Maintain credit, expense and capital discipline Invest to drive organic growth and profitability 3 Expand market share in key geographies 4 Leverage technology capabilities to accelerate digital transformation

Revenue and expense results better than previous expectations Strong fee revenue, particularly in mortgage and corporate banking (including record capital markets revenue) Achieved our previously stated 4Q19 financial targets sooner than expected Stable credit quality given the benign environment Returned 96% of earnings through common dividends and share repurchases Remain on-track to achieve MB expense savings by 1Q20 ($255 million pre-tax); expect to achieve ~80% of run-rate savings by year-end 3Q19 highlights Reported1 1Reported ROTCE, NIM, and efficiency ratio are non-GAAP measures: see reconciliation on pages 20 and 21 of this presentation and the use of non-GAAP measures on pages 26-28 of the earnings release; 2Adjusted EPS is a non-GAAP measure: see reconciliation on page 2 of the earnings release, pre-tax adjustments include a $11 million charge related to the valuation of the Visa total return swap as well as $28 million due to MB merger-related expenses, average diluted common shares outstanding (thousands): 736,086; all other figures are non-GAAP measures: see reconciliation on pages 20 and 21 of this presentation and the use of non-GAAP measures on pages 26-28 of the earnings release; Adjusted2 EPS ROA Efficiency ratio ROTCE $0.71 $0.75 1.35% NCO ratio: 0.36% NPA ratio: 0.47% 16.5% NIM 3.25% 3.32% 1.28% 14.2% 56.7% 58.4% ROE 11.3% 10.7% excl. AOCI excl. PAA excl. PAA & CDI

Commercial Balance sheet Securities1 and short-term investments Loan & lease balances Core deposit balances Securities1 Short-term investments Commercial Consumer Total IB core deposit rate Note: Totals shown above may not foot due to rounding 1Available-for-sale debt and other securities at amortized cost; previous disclosures included available-for-sale equity securities which are disclosed separately in the financial results; See forward looking statements on page 2 Consumer Total loan yield Taxable securities yield Total average balance; $ billions FY19 Total loans & leases: Up ~15% 4Q19 Total loans & leases: Relatively stable from 3Q19 (Commercial relatively stable; Consumer up 1 to 2%) Current outlook (average balances, incl. HFS) Loan & lease balances exclude HFS

Net interest income1 3Q19 vs. 3Q18 Current outlook (excludes purchase accounting accretion) 3Q19 vs. 2Q19 Adjusted NII1 up $171 million, or 16%; Adjusted NIM1 up 2 bps NII and NIM performance drivers: Increase in interest earning assets including the impact from MB Financial Lower long-term debt Adjusted NII1 down $14 million, or 1%; Adjusted NIM1 down 7 bps NIM performance drivers: Lower short-term market rates (-6 bps) Elevated cash balances from strong deposit growth (-1 bp) Day count (-1 bp) Consumer loan growth with spread improvement (+1 bp) 1Results are on a fully-taxable equivalent basis; non-GAAP measure: see reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on pages 26-28 of the earnings release; See forward-looking statements on page 2 FY19: NII up ~14% from FY 2018 (of $4.156 billion); NIM up ~4 bps from FY 2018 (of 3.22%) 4Q19: NII down ~1% from adjusted 3Q19 (of $1.218 billion); NIM down 4 to 5 bps from adjusted 3Q19 (of 3.25%) Total net interest income; $ millions Adjusted NII (excl. PAA) NII 3.23% 3.32% 3.25% Adjusted NIM (excl. PAA)

Adjusted noninterest income (excl. securities (gains)/losses)1 Noninterest income 3Q19 vs. 3Q18 Current outlook 3Q19 vs. 2Q19 Adjusted noninterest income1 up $72 million, or 11% Primary drivers of growth: Mortgage banking revenue (up 51%) Corporate banking revenue (up 23%) 1Non-GAAP measure: see reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on pages 26-28 of the earnings release; See forward-looking statements on page 2 Total noninterest income; $ millions FY19: Up 17 to 18% from adjusted FY18 (of $2.306 billion) 4Q19: Down ~4% from adjusted 3Q19 (of $746 million) Noninterest income Adjusted noninterest income1 up $160 million, or 27%, including the impact of MB Financial Primary drivers of growth: Corporate banking revenue (up 68%) Mortgage banking revenue (up 94%) Wealth and asset management revenue (up 9%)

Adjusted noninterest expense (excl. intangible amortization) 1 Noninterest expense 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Adjusted noninterest expense1 down $3 million Primarily reflecting lower compensation and benefits (down 5%), partially offset by higher other noninterest expense (up 8%) FY19: Up ~13% from adjusted FY18 (of $3.865 billion) 4Q19: Flat to down slightly from adjusted 3Q19 (of $1.117 billion) Total noninterest expense; $ millions Current outlook (excluding merger-related and CDI expenses) Adjusted noninterest expense1 up $148 million, or 15%, reflecting the impact of MB Financial Primary drivers of growth: Increased compensation and benefits (up 13%) Continued technology investments (up 30%) Operating lease expense (offset in noninterest income) Growth partially offset by the elimination of the FDIC surcharge Noninterest expense 1Excluding intangible amortization is a non-GAAP measure: see reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on pages 26-28 of the earnings release; See forward-looking statements on page 2

Credit quality overview 1Excludes HFS loans; See forward-looking statements on page 2 Net charge-offs of 0.36%, up 6 bps compared to the year-ago quarter; up 7 bps compared to the prior quarter Commercial net charge-offs down 1 bp compared to the year-ago quarter; up 5 bps compared to the prior quarter Consumer net charge-offs up 18 bps compared to the year-ago quarter; up 9 bps compared to the prior quarter NPA ratio of 0.47%, down 1 bp compared to the year-ago quarter; down 4 bps compared to the prior quarter Nonperforming assets remain at historically low levels NCOs by line of business Net charge-offs (NCOs) Nonperforming assets1 (NPAs) Provision primarily reflective of loan growth Charge-offs generally consistent with 3Q19 Current 4Q19 outlook

CET1 ratio of 9.6%, down ~110 bps compared to the year-ago quarter, and stable relative to the prior quarter Returned 96% of earnings to shareholders through common dividends and repurchase ($350 million in share repurchases, which decreased common shares outstanding by approximately 13.4 million shares) Issued $250 million of 4.95% fixed rate non-cumulative perpetual preferred stock (Series K) Strong capital and liquidity position 1Current period regulatory capital and liquidity ratios are estimated Common Equity Tier 1 ratio (Basel III)1 Modified LCR1 4Q19 Series H Series I ~$15 ~$7 Series J ~$4 Series K ~$4 Class B Series A ~$3 1Q20 - ~$7 ~$4 ~$3 ~$3 Total ~$33 ~$17 Upcoming preferred dividend schedule Note: Series J has converted to floating (3ML + 3.129%) and quarterly pay $s in millions existing preferred dividends

Current outlook Loans & leases Noninterest expense Effective tax rate Noninterest income NII (FTE)1 NIM (FTE)1 Credit items 1Non-GAAP measure: see forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 26-28 of the earnings release. (average balances, incl. HFS) FY19: up ~14% from adjusted FY18 (of $4.156 billion) 4Q19: down ~1% from adjusted 3Q19 (of $1.218 billion) FY19: up ~4 bps from adjusted FY18 (of 3.22%) 4Q19: down 4 to 5 bps from adjusted 3Q19 (of 3.25%) 4Q19: ~22% Provision primarily reflective of loan growth 4Q19: Charge-offs generally consistent with 3Q19 Outlook as of October 22, 2019; please see cautionary statement on page 2 regarding forward-looking statements FY19: Total loans & leases up ~15% 4Q19: Total loans & leases relatively stable from 3Q19 (Commercial relatively stable; Consumer up 1 to 2%) FY19: up ~13% from adjusted FY18 (of $3.865 billion) 4Q19: flat to down slightly from adjusted 3Q19 (of $1.117 billion) FY19: up 17 to 18% from adjusted FY18 (of $2.306 billion) 4Q19: down ~4% from adjusted 3Q19 (of $746 million) (excl. merger-related and CDI expenses) (excl. merger-related items) (excluding PAA) (excluding PAA)

Strategic priorities Focused on top quartile through-the-cycle performance to create long-term shareholder value 1 3 2 4 Leverage technology capabilities to accelerate digital transformation Maintain credit, expense and capital discipline Expand market share in key geographies Invest to drive organic growth and profitability

Appendix

Efficiency ratio trend1 Pre-provision net revenue1 3Q19 vs. 3Q18 3Q19 vs. 2Q19 Adjusted PPNR up $58 million, or 7% Growth driven by mortgage banking revenue, corporate banking revenue Growth partially offset by lower NII given lower short-term rates and other noninterest expense growth 1PPNR, Adjusted PPNR, efficiency ratio and adjusted efficiency ratio are non-GAAP measures: see reconciliation on pages 20 and 21 of this presentation and use of non-GAAP measures on pages 26-28 of the earnings release See forward-looking statements on page 2 Pre-provision net revenue; $ millions Adjusted PPNR up $186 million, or 28%, reflecting the impact of MB Financial Growth driven by increased NII reflecting earning asset growth, corporate banking revenue, mortgage banking revenue, and elimination of FDIC surcharge Growth partially offset by higher funding costs, increased compensation and benefits expense, and continued investments in technology

Strong liquidity profile $ millions – excl. Retail Brokered & Institutional CDs Unsecured debt maturities Heavily core funded Holding company: Modified LCR of 116% Holding Company cash as of September 30, 2019: $3.5B Cash currently sufficient to satisfy all fixed obligations in a stressed environment for ~24 months (debt maturities, common and preferred dividends, interest, and other expenses) without accessing capital markets, relying on dividends from subsidiaries or any other actions The Holding Company did not issue any long-term debt in 3Q19 The Holding Company issued $250MM non-cumulative perpetual preferred stock in 3Q19 (4.95% fixed for life) The first dividend for the Series K will be paid in December 2019 Bank entity: The Bank did not issue any long-term debt in 3Q19 $1.0B of Bank entity long-term debt matured in 3Q19 Available and contingent borrowing capacity (3Q19): FHLB ~$9.0B available, ~$12.3B total Federal Reserve ~$37.1B 2019 funding plans In 2019, Fifth Third expects to issue sufficient long-term debt to maintain its current ratings under the Moody’s LGF methodology As of 9/30/2019 $3,1001,2,3 $2,150 1$1.25B matured in 1Q19 2$850MM matured in 2Q19 3$1.0B matured in 3Q19 $5,660

Balance sheet positioning Investment portfolio $19.1B fixed | $51.4B variable 1,2,3 Commercial loans1,2,3 Consumer loans1 Long-term debt4 $29.8B fixed | $10.4B variable 1 $10.5B fix | $4.0B variable4 60% allocation to bullet/ locked-out cash flow securities Yield: 3.24% Effective duration of 4.75 Net unrealized pre-tax gain: $1.5B 99% AFS 1ML based: 58%6 3ML based: 7%6 Prime based: 6%6 Weighted avg. life: 1.5 years 1ML based: 1%7 12ML based: 2%7 Prime based: 19%7 Weighted avg. life: 3.0 years Data as of 09/30/19; 1Includes HFS Loans & Leases; 2Fifth Third had $7.0B of variable loans classified as fixed given the 1ML receive-fix swaps outstanding against C&I loans; 3Excludes forward starting swaps & floors; 4Fifth Third had $1.45B 3ML receive-fix swaps and $1.25B 1ML receive-fix swaps outstanding against long-term debt, which are being included in floating, long-term debt with swaps outstanding reflected at fair value; 5Effective duration of the taxable available for sale portfolio; 6As a percent of total commercial; 7As a percent of total consumer; 8As a percent of total long-term debt 1ML based: 9%8 3ML based: 19%8 Weighted avg. life: 4.3 years Level 1 100% Fix | 0% Variable Level 2A 100% Fix | 0% Variable Non-HQLA/ Other 76% Fix | 24% Variable C&I 26% Fix | 74% Variable Coml. mortgage 23% Fix | 77% Variable Coml. lease 100% Fix | 0% Variable Resi mtg.& construction 89% Fix | 11% Variable Auto/Indirect 100% Fix | 0% Variable Home equity 10% Fix | 90% Variable Senior debt 68% Fix | 32% Variable Sub debt 77% Fix | 23% Variable Auto securiz. proceeds 96% Fix | 4% Variable Coml. construction 0% Fix | 100% Variable Credit card 24% Fix | 76% Variable Other 66% Fix | 34% Variable Other 75% Fix | 25% Variable Information above incorporates ~$10BN in receive fixed swaps effective as of 9/30/19 Additional hedges will become effective in the coming quarters to further reduce asset sensitivity: $3BN: 5 year floors (2.25% strike against 1 month LIBOR) that will be effective at the end of 4Q19 $1BN: 5 year swaps (3.20% receive fixed rate against 1 month LIBOR) that will be effective at the beginning of 1Q20

Interest rate risk management Estimated NII sensitivity profile and ALCO policy limits Estimated NII sensitivity with deposit beta changes Estimated NII sensitivity with demand deposit balance changes 1 Effective duration of the taxable available for sale portfolio; 2Re-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, Note: data as of 09/30/19; 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. NII is modestly asset sensitive over the next 12-24 months: As of September 30, 2019, 56% of loans were variable rate net of effective swaps (73% of commercial; 26% of consumer) NII sensitivity tables incorporate impacts of $4BN of forward starting hedges Investment portfolio effective duration of 4.71 Short-term borrowings represent approximately 23% of total wholesale funding, or 4% of total funding Approximately $12BN in non-core funding matures beyond one year Interest rate sensitivity tables leverage the following deposit assumptions: Beta on all interest-bearing deposit and sweep balances: 70% up and 41% down2 No modeled re-pricing lag on deposits Utilizes forecasted balance sheet with $750MM DDA runoff and growth (per 100 bps rate movement) is assumed in up rate and down rate scenarios, respectively Weighted interest-bearing deposit floor of 9 bps

NPL rollforward1 1Loan balances exclude nonaccrual loans HFS Commercial $ millions Consumer $ millions Total NPL $ millions

Balance and credit loss trends1 Commercial & industrial Residential mortgage Commercial mortgage Commercial construction Home equity Indirect secured consumer loans Average Portfolio Balance NCOs as a % of average portfolio loans 1All balances are in billions 2Q18 2Q19 3Q18 4Q18 1Q19

Regulation G non-GAAP reconciliation See pages 26-28 of the earnings release for a discussion on the use of non-GAAP financial measures; 1Pre-tax items: for all periods assume a 23% tax rate, except for 1Q19 non-deductible merger-related items Fifth Third Bancorp and Subsidiaries Regulation G Non-GAAP Reconciliation $ and shares in millions September June March December September (unaudited) 2019 2019 2019 2018 2018 Net income attributable to Bancorp (U.S. GAAP) (a) $549 $453 $775 $455 $436 Net income attributable to Bancorp (U.S. GAAP) (annualized) (b) $2,178 $1,817 $3,143 $1,805 $1,730 Net income available to common shareholders (U.S. GAAP) (c) $530 $427 $760 $432 $421 Add: Intangible amortization, net of tax 11 11 2 1 1 Tangible net income available to common shareholders (d) $541 $438 $762 $433 $422 Tangible net income available to common shareholders (annualized) (e) $2,146 $1,757 $3,090 $1,718 $1,674 Net income available to common shareholders (annualized) (f) $2,103 $1,713 $3,082 $1,714 $1,670 Average Bancorp shareholders' equity (U.S. GAAP) (g) $21,087 $20,135 $17,025 $15,794 $15,994 Less: Average preferred stock (h) (1,445) (1,331) (1,331) (1,331) (1,331) Average goodwill (4,286) (4,301) (2,682) (2,468) (2,462) Average intangible assets and other servicing rights (208) (215) (58) (32) (29) Average tangible common equity (i) $15,148 $14,288 $12,954 $11,963 $12,172 Less: average accumulated other comprehensive income ("AOCI") (1,444) (619) - 719 610 Average tangible common equity, excluding AOCI (j) $13,704 $13,669 $12,954 $12,682 $12,782 Adjustments (pre-tax items) Valuation of Visa total return swap 11 22 31 (7) 17 GreenSky securities losses (gains) - - (9) 21 8 Merger-related expense 28 109 76 27 1 Merger-related branch network impairment charge - - 13 - - Gain on sale of Vantiv/Worldpay shares - - (562) - - Adjustments - after-tax 1 (k) $30 $101 ($341) $32 $20 Adjustments - tax-related Acquisition impact on state deferred taxes - - 9 - - Adjustments - tax-related (l) - - 9 - - Adjusted net income attributable to Bancorp [(a) + (k) + (l)] $579 $554 $443 $487 $456 Adjusted net income attributable to Bancorp (annualized) (m) $2,297 $2,222 $1,797 $1,932 $1,809 Adjusted net income available to common shareholders [(c) + (k) + (l)] $560 $528 $428 $464 $441 Adjusted net income available to common shareholders (annualized) (n) $2,222 $2,118 $1,736 $1,841 $1,750 Adjusted tangible net income available to common shareholders [(d) + (k) + (l)] $571 $539 $430 $465 $442 Adjusted tangible net income available to common shareholders (annualized) (o) $2,266 $2,162 $1,744 $1,845 $1,754 Average assets (p) $169,585 $167,578 $148,968 $144,185 $141,654 Metrics: Return on assets (b) / (p) 1.28% 1.08% 2.11% 1.25% 1.22% Adjusted return on assets (m) / (p) 1.35% 1.33% 1.21% 1.34% 1.28% Return on average common equity (f) / [(g) + (h)] 10.7% 9.1% 19.6% 11.8% 11.4% Adjusted return on average common equity (n) / [(g) + (h)] 11.3% 11.3% 11.1% 12.7% 11.9% Return on average tangible common equity (e) / (i) 14.2% 12.3% 23.9% 14.3% 13.8% Adjusted return on average tangible common equity (o) / (i) 15.0% 15.1% 13.5% 15.4% 14.4% Adjusted return on average tangible common equity, excluding AOCI (o) / (j) 16.5% 15.8% 13.5% 14.5% 13.7% For the Three Months Ended

Regulation G non-GAAP reconciliation See pages 26-28 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 September June March December September (unaudited) 2019 2019 2019 2018 2018 Average interest-earning assets (a) $148,854 $148,790 $134,463 $131,072 $128,799 Net interest income (U.S. GAAP) (b) $1,242 $1,245 $1,082 $1,081 $1,043 Add: Taxable equivalent adjustment 4 5 4 4 4 Net interest income (FTE) (c) $1,246 $1,250 $1,086 $1,085 $1,047 Less: Net interest income impact from purchase accounting accretion 28 18 1 - - Adjusted net interest income (d) $1,218 $1,232 $1,085 $1,085 $1,047 Net interest income (FTE) (annualized) (e) $4,943 $5,014 $4,404 $4,305 $4,154 Adjusted net interest income (FTE) (annualized) (f) $4,832 $4,942 $4,400 $4,305 $4,154 Noninterest income (U.S. GAAP) (g) $740 $660 $1,101 $575 $563 Valuation of Visa total return swap 11 22 31 (7) 17 GreenSky securities losses (gains) - - (9) 21 8 Merger-related branch network charge - - 13 - - Gain on sale of Vantiv/Worldpay shares - - (562) - - Adjusted noninterest income (h) $751 $682 $574 $589 $588 Add: Securities (gains)/losses (5) (8) (7) 11 (2) Adjusted noninterest income, (excl. securities (gains)/losses) $746 $674 $567 $600 $586 Noninterest expense (U.S. GAAP) (i) $1,159 $1,243 $1,097 $975 $972 Merger-related expense (28) (109) (76) (27) (1) Adjusted noninterest expense $1,131 $1,134 $1,021 $948 $971 Less: Intangible amortization, net of tax 14 14 3 1 2 Adjusted noninterest expense excl. intangible amortization expense (j) $1,117 $1,120 $1,018 $947 $969 Metrics: Pre-provision net revenue [(c) + (g) - (i)] 827 667 1,090 685 638 Adjusted pre-provision net revenue [(d) + (h) - (j)] 852 794 641 727 666 Net interest margin (FTE) (e) / (a) 3.32% 3.37% 3.28% 3.29% 3.23% Adjusted net interest margin (FTE) (f) / (a) 3.25% 3.32% 3.28% 3.29% 3.23% Efficiency ratio (FTE) (i) / [(c) + (g)] 58.4% 65.1% 50.2% 58.7% 60.4% Adjusted efficiency ratio (j) / [(d) + (h)] 56.7% 58.5% 61.4% 56.6% 59.3% For the Three Months Ended

XML

Document and Entity Information	Oct. 22, 2019
Document And Entity Information [Line Items]
Entity Registrant Name	FIFTH THIRD BANCORP
Amendment Flag	false
Entity Central Index Key	0000035527
Document Type	8-K
Document Period End Date	Oct. 22, 2019
Entity Incorporation, State or Country Code	OH
Entity File Number	001-33653
Entity Tax Identification Number	31-0854434
Entity Address, Address Line One	Fifth Third Center
Entity Address, Address Line Two	38 Fountain Square Plaza
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45263
City Area Code	800
Local Phone Number	972-3030
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock, Without Par Value [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Common Stock, Without Par Value
Trading Symbol	FITB
Security Exchange Name	NASDAQ
Series I Preferred Stock [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock
Trading Symbol	FITBI
Security Exchange Name	NASDAQ
Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A
Trading Symbol	FITBP
Security Exchange Name	NASDAQ
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K [Member]
Document And Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K
Trading Symbol	FITBO
Security Exchange Name	NASDAQ