Fifth Third Bank 2006 Annual Report Download - page 14

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Please find page 14 of the 2006 Fifth Third Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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Business Description
Consumer Lending provides loan products to branch and other
customers, primarily within Fifth Third’s footprint. Consumer
Lending partners with a network of auto dealers that originate loans
on the Bank’s behalf, otherwise know as indirect lending.
Additionally, Consumer Lending provides loan and lease products to
individuals including mortgages and home equity loans and lines, as
well as federal and private student education loans.
Customer Focus
Recognizing that personal loans are often a vital element for the
prosperity of our customers, we offer a broad range of loans that
correspond to the financial situation of our customers. Whether for
a first car or a retirement home, Fifth Third provides loans that fit
our customers’ needs, today and tomorrow.
Strategy
Fifth Third understands that not every customer needs the same
loan product to fulfill his or her needs. In order to evolve with the
marketplace and meet the changing needs of customers as they
progress through life, we continue to refine and develop our
lending solutions. Whether customers need a first mortgage or a
loan to send their children to college, we intend to be there with
the right solution for them. And by using products like our new
Alt-A mortgage product we have been able to facilitate home
ownership for a larger segment of our customer population. We’ve
also expanded our auto dealer network to 24 states, including the
10 in our banking footprint, with an expectation that we’ll continue
to add states over the next several years.
Evolving with the marketplace.
Consumer Lending
2006 Highlights
• $609 million total revenue
• $137 million net income
• 49.8 percent efficiency ratio
• $20.4 billion average loans
• $436 million average core deposits
• $28.7 billion mortgage servicing portfolio
• 8,700 dealer indirect auto lending network
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