Fifth Third Bank 2009 Annual Report Download - page 3

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While overall conditions improved this year, 2009 still presented a challenging environ-
ment for the banking industry. Despite these headwinds, Fifth Third took important steps on
a number of fronts to position the Company well for the current environment and the future.
We’ve strengthened the Company’s capital position to industry-leading levels, we’ve dealt with
root causes of elevated credit losses which we and our competitors are experiencing, and we’ve
otherwise maintained strong operating results throughout the economic downturn. Due to
these actions, we believe our prospects for success are strong as we move into 2010, a year that
should provide for improved results, particularly in terms of credit.
Entering this economic cycle, Fifth Third was in the midst of a strategic transition. We were
actively engaged in strengthening our management team, solidifying our footprint with the
integration of our Southeastern acquisitions, and well into implementing a strategic plan that
included improving customer satisfaction and employee engagement. Even in this downturn,
we’ve made substantial progress on all of these initiatives, which will contribute significantly
to our bottom line results as we emerge from this economic cycle. We’ve been proactive in con-
fronting challenges and have led other financial institutions in adjusting our product offerings
to meet customer needs, modifying loans, conducting internal stress tests, and developing long-
term capital plans. We’re now beginning to see investor focus return to long-term profitability
and normalized earnings potential and away from worst-case scenarios and capital adequacy.
Dear Shareholders:
A MESSAGE TO
OUR SHAREHOLDERS
KEVIN T. KABAT
CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER
1
FIFTH THIRD BANCORP | 2009 ANNUAL REPORT