Fifth Third Bancorp (WKN: 875029 / FITB ) / Nasdaq

Fifth Third Bancorp operates as a diversified financial services holding company. The company's Commercial Banking segment offers banking, cash management, and financial services; traditional lending and depository products and services; other services, including foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers. Its Branch Banking segment provides a range of deposit and loan, and lease products to individuals and corporations. Its products include checking and savings accounts, home equity loans and lines of credit, and credit cards and loans for automobile and personal financing needs. The company's Consumer Lending segment involves in mortgage and home equity lending activities, such as origination, retention, and servicing of mortgage and home equity loans; other indirect lending activities, which include loans to consumers through mortgage brokers, automobile dealers, and federal and private student education loans. Its Investment Advisors segment offers a range of investment alternatives for individuals, companies, and not-for-profit organizations. This segment also offers investment, trust, asset management, retirement planning, and custody services, as well as retail brokerage services to individual clients and broker dealer services to the institutional marketplace. Its Fifth Third Processing Solutions segment offers electronic funds transfer, debit, credit, and merchant transaction processing services; and data processing services. As of December 31, 2008, Fifth Third Bancorp operated 1,307 full-service banking centers, including 92 Bank Mart locations and 2,341 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, and Georgia. The company was founded in 1862 and is headquartered in Cincinnati, Ohio.

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30.03.2009 Fifth Third Bancorp and Advent International Announce Fifth Third Processing Solutions Joint Venture
http://www.finanznachrichten.de/...ng-solutions-joint-venture-008.htm

CINCINNATI and BOSTON, March 30 /PRNewswire-FirstCall/ -- Fifth Third Bancorp (News) and Advent International announced today that they have signed a definitive agreement whereby Advent International will acquire a 51% interest in Fifth Third's processing business through the establishment of a joint venture that values the new company at approximately $2.35 billion before valuation adjustments by either party. Fifth Third will retain the remaining 49 percent interest in the new company, Fifth Third Processing Solutions, LLC.

Pursuant to the agreement, Fifth Third Bank (OH), an indirect wholly owned subsidiary of Fifth Third Bancorp, will contribute the assets and operations of Fifth Third's merchant acquiring and financial institutions processing businesses to a new limited liability company ("LLC"). The LLC's capitalization prior to the purchase of this interest will include senior secured notes payable to subsidiaries of Fifth Third in the amount of $1.25 billion. Advent will pay Fifth Third $561 million in cash for a 51 percent ownership interest in the equity of the LLC and for certain put rights. Additionally, Fifth Third will receive warrants in the new company exercisable in certain circumstances. Fifth Third estimates the valuation adjustments related to these warrants, the put rights, and minority interest discounts may reduce its implied valuation of the business by an estimated $50 million. The agreement is subject to certain potential purchase price adjustments. The terms and conditions of the transaction are more fully described in Fifth Third's Form 8-K filed on March 30, 2009. The transaction will be accounted for under Financial Accounting Standard 160, "Noncontrolling Interests in Consolidated Financial Statements." Fifth Third will retain its credit card issuing business, including retail credit card and commercial multi-card services.

...(weiter siehe LINK)

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p.s:
Einstieg von 0815ax in FITB am 25.02.09 zum Kurs von 1,18€

www.finanznachrichten.de/...s-is-smaller-than-expected-020.htm

23.04.2009 14:52
UPDATE 3-Fifth Third loss is smaller than expected

NEW YORK, April 23 (Reuters) - Fifth Third Bancorp (News) posted a narrower-than-expected first-quarter loss despite taking hits on commercial loans, home mortgages and home equity loans.

The large Midwest regional bank posted a net loss of $26 million, or 4 cents a share, compared with a profit of $286 million, or 54 cents a share, a year earlier.

Excluding one-time items, including a reduction in income tax expense after settling a dispute with the U.S. Internal Revenue Service over leveraged leases, the bank lost 22 cents a share. On that basis, analysts on average expected a loss of 28 cents a share.

'Given the current economic environment, we continue to feel good about the core operations and earnings power of the bank,' said Chief Executive Kevin Kabat.

Like Wells Fargo&Co and U.S. Bancorp, which also reported quarterly results this week, Fifth Third said it saw high mortgage origination volumes in the first quarter. Its mortgage banking revenue climbed to $134 million from $97 million a year earlier.

Fifth Third issued $3.45 billion in preferred stock under the U.S. Treasury's Troubled Asset Relief Program last year. It said it paid $76 million in preferred dividends in the first quarter.

The bank slashed its dividend last year after losses rose from its exposure in the Midwest, hard hit by the auto industry's troubles, and Florida, a center of the real estate downturn. These areas continue to account for most of its commercial and residential real estate losses, the bank said on Thursday.

The bank's shares climbed 11 percent to $4.10 in premarket trade. Through Wednesday, the shares had fallen 55 percent this year.

(Reporting by Elinor Comlay; editing by John Wallace and Derek Caney)

((elinor.comlay@thomsonreuters.com; +1 646 223 6116)) Keywords: FIFTHTHIRD/

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