Fifth Third Bank 2010 Annual Report Download - page 11

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2010 ANNUAL REPORT 9
Business Description
Consumer Lending provides loan solutions
to customers across and beyond Fifth Third’s
footprint. Our loan products include mortgages
and home equity loans and lines. Consumer
Lending also partners with a network of auto
dealers that originate loans on the Bank’s behalf.
Whether in need of a mortgage or a new car, our
customers know we oer a solution to help them
achieve their goals.
Customer Focus
We recognize that personal loans are often a vital
element for the prosperity of our customers. We
deliver a full spectrum of competitive lending
solutions that correspond to their financial situations.
Throughout the entire customer experience, we
strive to provide expert advice and outstanding
service. To help prepare for major life moments like
buying a car or for purchasing every day necessities,
Fifth Third provides lending solutions that fit our
customers’ needs today and tomorrow.
We also support homeownership by oering a
variety of refinancing and workout arrangements
to give our customers options. While each situation
is dierent, we intend to work toward mutually
beneficial outcomes with our borrowers. Some
alternative modification options may include
changing the terms of the original loan to make the
payments more aordable, primarily by lowering
interest rates and extending the terms.
Strategy
Fifth Third understands that each customer
has unique needs. To evolve with the dynamic
marketplace and meet the changing needs of
customers as they progress through life, we continue
to adjust our lending solutions. Our strategic focus is
to surround each new and existing customer with a
team of professional bankers committed to providing
complete banking solutions in order to profitably
grow market share.
Our sales and service associates strive to achieve
the highest ratings for customer experience while
delivering operational excellence. In 2010, we
advanced our mortgage origination market share
within the top 20, and remain a top five market
share leader within the non-captive prime auto
lending space.
2010 Highlights
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Consumer Lending