1、Untitled-1 2Untitled-1 22/26/24 3:20 PM2/26/24 3:20 PMAt Fifth Third,we believe great banks distinguish themselves not by how they perform in benign environments,but rather by how they navigate challenging ones.In that sense,2023 was a good year to mark our progress against our ambition to be the On

2、e Bank people most value and trust.The“people”in this statement encompass shareholders,customers,employees,and the communities where we live and work.Financially,Fifth Third delivered the#1 total shareholder return among all large banks that did not participate in an FDIC-assisted transaction,driven

3、 by our defensive balance sheet positioning,disciplined execution,and multi-year investments.We grew fourth quarter average deposits 5%year-over-year against a 3%decline for the industry.Credit performance was again strong with net charge-offs remaining below historical averages.Although it would be

4、 unrealistic to expect it to repeat forever,we had zero net charge-offs in commercial real estate during a difficult time for the sector.These strong outcomes,combined with the expense discipline that is a hallmark for Fifth Third,resulted in a full year return on average assets of 1.13%,a return on

5、 average common equity of 14.2%,and an efficiency ratio*of 59.6%all among the best of our peers.Strategically,we continued to invest as we have for the past several years:strengthening our presence in the Southeast,differentiating our product offerings through tech-led innovation and excellent servi

6、ce,and modernizing our operating platform.Fortune,Fast Company and others recognized us for innovation,and The Banker named Fifth Third the“Bank of the Year U.S.”Notably,customers continued to vote with their feet.We grew consumer households at greater than three times the rate of U.S.population gro