Fifth Third Bank 2007 Annual Report Download - page 14

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2007 Highlights
• $601 million total revenue
• $130 million net income
• $22 billion average loans
• $35 billion mortgage
servicing portfolio
• 9,300 dealer indirect auto
lending network
Consumer Lending
Consumer
Lendingprovidesloanproductsto
bankingcenterandothercustomers
acrossandbeyondFifthThird’sfootprint.
Inordertoleverageitsinfrastructure,
ConsumerLendingpartnerswitha
networkofautodealerswhooriginate
loansandleasesontheBank’sbehalf,
otherwiseknownasIndirectLending.
Additionally,ConsumerLendingprovides
loanproductstoindividuals,including
realestate-securedmortgagesandhome
equityloansandlines,aswellasfederal
andprivatestudenteducationloans.
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nancialsituationof
ourcustomers.Whetherforarstcaror
aretirementhome,FifthThirdprovides
loansthattourcustomers’needs,today
andtomorrow.
FifthThirdunderstandsthat
noteverycustomerneedsthesameloan
producttofulllhisorherneeds.To
evolvewiththedynamicmarketplaceand
meetthechangingneedsofcustomers
astheyprogressthroughlife,we
continuetoadjustourproductstoavoid
exposuretohigh-risksegmentswhile
reningourlendingsolutions.In2007,
manycompetitorsexitedthebusiness.
Wecontinuedtosharpenourfocuson
underwritingpracticesandselectively
increasedourmarketshare.Whether
customersneedarstmortgageora
loantosendtheirchildrentocollege,we
intendtobetherewiththerightsolution
forthem.


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