The annual meeting of Fifth Third shareholders took place on April 15, 2008. Kevin Kabat, the President and CEO, discussed the difficult economic environment characterized by a weak housing market, rising unemployment and declining consumer spending. Fifth Third has taken steps to mitigate credit risks, such as tightening underwriting standards. Despite challenges, Fifth Third has comparatively outperformed peers in areas like loan growth, fee income growth and efficiency. Kabat emphasized Fifth Third's operating strengths, including its integrated business model and focus on customer satisfaction, to build future success.
Ángel Ron: Competir en tiempo de crisis: un entorno desafiante para los banco...Banco Popular
The document discusses the challenging environment for retail banks due to deleveraging economies, low interest rates, and deleveraging banks. It summarizes Banco Popular's strategy of adapting ahead of peers by focusing on risk management, liquidity, and solvency during the crisis. It argues that in the current environment of austerity, banks must focus on managing spreads and margins, cost control, risk management, and capital to remain profitable. Banco Popular has demonstrated a robust business model through the economic cycle.
The housing market is facing challenges nationally, with new housing starts, sales, and mortgage applications declining after the expiration of federal tax credits. However, the Southwest California market has seen unit sales increase month-over-month in most areas, with records set in June. Inventory remains low while demand is still strong. Prices have stabilized across the region after steep declines from 2007-2009, though short sales and loan modifications remain challenges. The local job market will be important to sustaining the recovery against negative national trends.
This document provides an overview of the US housing and economic crisis and discusses why more pain is still to come. It highlights that private label mortgages, which were securitized by Wall Street, make up 15% of all mortgages but account for 28% of nonperforming loans. More than 14% of mortgages on 1-4 family homes were delinquent or in foreclosure as of Q3 2009. The crisis is shifting from defaults driven by mortgage resets to borrowers losing their jobs or becoming underwater on their mortgages. The document concludes by presenting two investment ideas.
The document summarizes Knoll's 2009 second quarter financial results. It includes introductions by the CEO and CFO. Key highlights include:
- Sales declined 30.9% from the previous year's second quarter.
- Gross margin percentage increased to 35.2% compared to 34.6% last year even as gross margin dollars decreased.
- Adjusted operating profit declined by over 50% and the adjusted operating margin fell to 10.2% from 13.9% the previous year.
- Adjusted EPS declined to $0.21 from $0.52 in the second quarter of 2008.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
The document summarizes Vivo's financial and operating performance in 2Q10. Key highlights include:
- Accelerated growth in revenues and EBITDA compared to previous periods. Revenues grew 10.7% and EBITDA grew 10.6% year-over-year.
- Improved customer mix and market share gains led to a more stable and active customer base, driving increased consumption and revenue per user.
- Data services revenue grew significantly, accounting for 19.4% of revenues and fueling overall growth.
- Solid cash generation supported a dividend payment of R$417 million in April 2010 while consolidating Vivo's leadership position in the market.
The document summarizes Knoll's third quarter 2009 financial results. Key points include:
- Sales declined 36.1% year-over-year in 3Q09 due to decreases in corporate spending and employment.
- Gross margin dollars and percentage decreased due to lower sales volume and pricing pressures. Adjusted operating profit also declined due to lower sales.
- Adjusted EPS fell to $0.13 in 3Q09 compared to $0.52 in the prior year.
- Bank leverage, a measure of debt levels, increased to 2.59 times in 3Q09 from prior periods below 2 times, reflecting lower operating results.
The local housing market report for Austin, Texas in the third quarter of 2009 found:
- The median home price was $189,100, down slightly from a year ago but higher than the national median of $177,900.
- Existing home sales growth remained sluggish at -1.9% compared to 5.9% nationally.
- Job losses continued in Austin but at a lower rate than the national average, and the unemployment rate of 7.2% was below the 9.8% national rate.
- Housing affordability was better than historical averages and stronger than the national market due to lower mortgage payments as a percentage of income.
Ángel Ron: Competir en tiempo de crisis: un entorno desafiante para los banco...Banco Popular
The document discusses the challenging environment for retail banks due to deleveraging economies, low interest rates, and deleveraging banks. It summarizes Banco Popular's strategy of adapting ahead of peers by focusing on risk management, liquidity, and solvency during the crisis. It argues that in the current environment of austerity, banks must focus on managing spreads and margins, cost control, risk management, and capital to remain profitable. Banco Popular has demonstrated a robust business model through the economic cycle.
The housing market is facing challenges nationally, with new housing starts, sales, and mortgage applications declining after the expiration of federal tax credits. However, the Southwest California market has seen unit sales increase month-over-month in most areas, with records set in June. Inventory remains low while demand is still strong. Prices have stabilized across the region after steep declines from 2007-2009, though short sales and loan modifications remain challenges. The local job market will be important to sustaining the recovery against negative national trends.
This document provides an overview of the US housing and economic crisis and discusses why more pain is still to come. It highlights that private label mortgages, which were securitized by Wall Street, make up 15% of all mortgages but account for 28% of nonperforming loans. More than 14% of mortgages on 1-4 family homes were delinquent or in foreclosure as of Q3 2009. The crisis is shifting from defaults driven by mortgage resets to borrowers losing their jobs or becoming underwater on their mortgages. The document concludes by presenting two investment ideas.
The document summarizes Knoll's 2009 second quarter financial results. It includes introductions by the CEO and CFO. Key highlights include:
- Sales declined 30.9% from the previous year's second quarter.
- Gross margin percentage increased to 35.2% compared to 34.6% last year even as gross margin dollars decreased.
- Adjusted operating profit declined by over 50% and the adjusted operating margin fell to 10.2% from 13.9% the previous year.
- Adjusted EPS declined to $0.21 from $0.52 in the second quarter of 2008.
- U.S. petroleum refining company presenting at an energy conference
- Facing challenges from weak refining market conditions and falling gasoline demand
- Taking steps to improve operating flexibility and maximize contributions from non-refining businesses like logistics and coke to maintain financial performance
The document summarizes Vivo's financial and operating performance in 2Q10. Key highlights include:
- Accelerated growth in revenues and EBITDA compared to previous periods. Revenues grew 10.7% and EBITDA grew 10.6% year-over-year.
- Improved customer mix and market share gains led to a more stable and active customer base, driving increased consumption and revenue per user.
- Data services revenue grew significantly, accounting for 19.4% of revenues and fueling overall growth.
- Solid cash generation supported a dividend payment of R$417 million in April 2010 while consolidating Vivo's leadership position in the market.
The document summarizes Knoll's third quarter 2009 financial results. Key points include:
- Sales declined 36.1% year-over-year in 3Q09 due to decreases in corporate spending and employment.
- Gross margin dollars and percentage decreased due to lower sales volume and pricing pressures. Adjusted operating profit also declined due to lower sales.
- Adjusted EPS fell to $0.13 in 3Q09 compared to $0.52 in the prior year.
- Bank leverage, a measure of debt levels, increased to 2.59 times in 3Q09 from prior periods below 2 times, reflecting lower operating results.
The local housing market report for Austin, Texas in the third quarter of 2009 found:
- The median home price was $189,100, down slightly from a year ago but higher than the national median of $177,900.
- Existing home sales growth remained sluggish at -1.9% compared to 5.9% nationally.
- Job losses continued in Austin but at a lower rate than the national average, and the unemployment rate of 7.2% was below the 9.8% national rate.
- Housing affordability was better than historical averages and stronger than the national market due to lower mortgage payments as a percentage of income.
1) Net revenues for BRMALLS grew 36% to R$243.6 million in 1Q12, with NOI reaching R$217.8 million and a NOI margin of 90.5%. Adjusted EBITDA and AFFO increased 44.5% and 59.9% respectively.
2) Same-store rents and sales continued to increase strongly, with renewals leasing spread above 20% for the eighth consecutive quarter. BRMALLS also invested R$88.3 million in acquisitions.
3) BRMALLS ended 1Q12 with R$619.1 million in cash and a diversified long-term debt profile. Development projects will
- The median home price in the Portland area declined 13.9% over the last year to $246,200 as of Q2 2009, continuing a weakening trend.
- Local job losses over the last year were sharp at -56,800 (-5.5%), contributing to weak housing demand.
- Mortgage rates remain low while affordability is improving, with the monthly mortgage payment-to-income ratio at a historically strong 15.4% in Q2 2009.
- Foreclosure rates on prime loans are low at 0.4% while rates on subprime and Alt-A loans show large local increases compared to a year ago but remain below national averages.
The document summarizes the 2009 financial results of an unnamed bank. Key points include:
1) Net income for 2009 was RUB 1.2 billion, down 61.2% from 2008, as the bank took conservative measures during the economic crisis to prepare for potential recovery.
2) The bank maintained strong capital and liquidity positions despite challenges like downward pressure on interest margins and subdued loan demand.
3) Efficiency improved over 2009, with cost to income ratio down 4 percentage points and personnel expenses down 17.2% from 2008.
The document provides economic highlights and figures for Israel for Q3 2011. It includes key indicators such as GDP growth, exports, unemployment, inflation rates, and Israel's main trading partners. GDP grew by 4.7% in Q3 2011, exports reached $23.1 billion, and unemployment fell to 5.5%. Israel's top trading partners are the US, China, UK, Germany, and Switzerland.
The document provides key economic indicators and facts about the Indian economy. It shows India's population, poverty rates, literacy rates, and other indicators have greatly improved since the 1980s. While agriculture still employs many, the services and manufacturing sectors have grown. Challenges remain in reducing poverty and the fiscal deficit. India has experienced strong GDP growth in recent years and its successes include the IT, pharmaceutical and manufacturing industries.
1) Best Buy Co., Inc. is the largest consumer electronics retailer in North America with a 18% market share in the US.
2) Best Buy has experienced strong growth in revenue, operating income, and earnings per share in recent fiscal years through expanding its store base and developing new retail formats.
3) Best Buy plans to continue growing its core business by focusing on services, full solutions, new store formats, and private label offerings while also expanding into new markets like Canada, China, and the UK.
This document provides an overview of The Sherwin-Williams Company to investors. It discusses the coatings industry and Sherwin-Williams' position as a top manufacturer. It highlights Sherwin-Williams' diversified customer base in architectural, industrial, and OEM coatings. It also outlines the company's controlled distribution network, leading brands, investment in technology, acquisition strategy, and financial strength.
Eletropaulo reported strong financial results in the 2nd quarter of 2005. Net income increased significantly to R$136.8 million compared to a loss in the previous quarter, due to higher operating revenue and lower net financial expenses. Revenue grew due to a tariff adjustment and the completion of a tariff review from 2003. The company also issued bonds of R$474 million in the international market and had its credit rating upgraded.
The Knights of Columbus 2011 Investment Review provides information about their investment strategy and performance. They focus on investing in investment grade corporates and agencies across sectors as well as high quality mortgage securities. They avoid risky investments like junk bonds, derivatives, and structured products. Over 2011, their total assets grew to $18 billion with 87.5% in bonds, 2.1% in stocks, and the remainder in real estate and other assets. Their annualized returns over various periods exceeded their peers, with strong credit ratings reflecting their conservative approach.
The document discusses opportunities in Mexico's aerospace industry for foreign investment. It notes that aerospace companies are increasingly locating operations in Mexico to take advantage of lower wages and an increasingly skilled workforce. Mexico's aerospace exports have more than tripled since 2004. Companies like Bombardier and Goodrich have established new factories in Mexico to manufacture aircraft parts at significantly lower costs. The electronics and automotive industries have also seen major investment and growth in Mexico due to competitive advantages like labor costs and geographic proximity to the US market.
- The real estate market statistics document provides data on home sales, listings, prices, and absorption rates for March 2009 compared to March 2008 for the overall MLS area as well as the Aurora North and Aurora South submarkets.
- Key findings include declines in home sales, listings, and prices year-over-year for March 2009 in the overall market as well as both submarkets. Absorption rates also decreased across the board.
- Average home prices fell 8.4% overall and condo prices dropped 12.6% in March 2009 compared to the previous year. Both Aurora North and Aurora South saw price decreases as well as significant drops in active listings and new listings.
State of the U.S. Online Retail Economy in Q2 2010 comScore
comScore Chairman Gian Fulgoni presents his quarterly review of the state of the U.S. online retail economy during this webinar from Thursday, August 19. This installment includes an overview of e-commerce trends in the second quarter of 2010 and survey findings that highlight consumer sentiment about the current state of the economy.
This document discusses the economic crisis and recession. It analyzes multiple factors that contributed to the problems, including the housing crisis, overleveraged financial institutions, falling asset prices, and a weak household balance sheet both in the US and globally. It examines trends in areas like inflation, interest rates, home prices, mortgage originations, derivatives, and consumer spending to explain how imbalances developed over time. The document concludes that this crisis is more secular and global in nature rather than a "normal" crisis, and will take time to work through reduction of debt and risk.
- Yahoo reported Q3 2008 revenue of $1.786 billion, a 1% increase year-over-year. Revenue excluding traffic acquisition costs (Revenue ex-TAC) decreased 2% year-over-year to $1.325 billion.
- Operating cash flow (OCF) for Q3 2008 was $410 million, a 12% decrease year-over-year, and included $37 million in costs related to Microsoft proposals and other strategic initiatives.
- Free cash flow (FCF) for Q3 2008 was $231 million, a 52% FCF to OCF ratio, and included a one-time payment from AT&T in the prior quarter.
- Non-GAAP earnings
2002 - Third Annual Analyst & Investor Meeting Financial PresentationEmbraer RI
This document summarizes Embraer's third annual investor meeting held on November 21-22, 2002. It provides an overview of Embraer's shareholder base, financial results for the third quarter of 2002, sales financing methods, asset management strategy, and working capital measures. The presentation discusses Embraer's commitment to customer financial needs while transitioning away from long-term aircraft financing. It also reviews Embraer's captive insurance company and aircraft leasing subsidiary used to manage risks and residual aircraft values.
The document provides a high-level summary of Boston Scientific Corporation's activities in 1996 including:
1) Continuing the integration of nine major acquisitions and restructuring the worldwide organization.
2) Re-engineering business processes to improve strategic alignment and customer focus.
3) Achieving record revenue and earnings growth of 30% while accelerating the building of "Strategic Mass".
The document analyzes credit trends at Fifth Third Bank in 2Q08. Key points:
1) Non-performing assets (NPAs) and net charge-offs (NCOs) increased significantly in 2Q08 and were driven by weakness in commercial real estate and residential mortgages, particularly in Michigan and Florida.
2) The commercial construction portfolio saw rising delinquencies, NPAs, and NCOs as homebuilder and land development loans struggled from declining property values.
3) Within residential mortgages, higher delinquencies indicated ongoing stress from weak economic conditions and falling home prices.
The document provides financial highlights and selected information for Jacobs Engineering Group Inc. for fiscal years 2006, 2007, and 2008:
- Revenues increased substantially over the three years, reaching $11.3 billion in FY2008. Net earnings and EPS also grew each year.
- Backlog reached a record high of $16.7 billion in FY2008, up $3.1 billion from the prior year.
- The company added over 7,900 employees in FY2008 through acquisitions and recruitment.
- FY2008 was a successful year with record financial results and the highest quality scores for client satisfaction.
This document summarizes the financial results and position of Boston Scientific for 2003. Key points include:
- Net sales increased 19% to $3.476 billion, driven by sales of the TAXUS drug-eluting stent in international markets.
- Gross profit margin increased 220 basis points to 72.4% due to cost improvements and a favorable sales mix.
- Operating expenses grew to support new product launches like TAXUS. R&D expenses increased to 13% of sales to support the drug-eluting stent program.
- Net income was $472 million or $0.56 per share. Management expects significant sales growth in 2004 following the U.S. launch of TAXUS.
1) Monsanto's mid-year pipeline update indicates continuing momentum, with new analyses of 2005 field research supporting products like YieldGard Rootworm and dicamba-tolerant soybeans.
2) Early results from the Southern Hemisphere reinforce the potential for drought-tolerant corn and higher-yielding soybeans.
3) New initiatives like "High-Impact Technology" projects aim to streamline development and improve the commercial readiness of promising pipeline opportunities such as Roundup Ready 2 Yield soybeans.
1) Net revenues for BRMALLS grew 36% to R$243.6 million in 1Q12, with NOI reaching R$217.8 million and a NOI margin of 90.5%. Adjusted EBITDA and AFFO increased 44.5% and 59.9% respectively.
2) Same-store rents and sales continued to increase strongly, with renewals leasing spread above 20% for the eighth consecutive quarter. BRMALLS also invested R$88.3 million in acquisitions.
3) BRMALLS ended 1Q12 with R$619.1 million in cash and a diversified long-term debt profile. Development projects will
- The median home price in the Portland area declined 13.9% over the last year to $246,200 as of Q2 2009, continuing a weakening trend.
- Local job losses over the last year were sharp at -56,800 (-5.5%), contributing to weak housing demand.
- Mortgage rates remain low while affordability is improving, with the monthly mortgage payment-to-income ratio at a historically strong 15.4% in Q2 2009.
- Foreclosure rates on prime loans are low at 0.4% while rates on subprime and Alt-A loans show large local increases compared to a year ago but remain below national averages.
The document summarizes the 2009 financial results of an unnamed bank. Key points include:
1) Net income for 2009 was RUB 1.2 billion, down 61.2% from 2008, as the bank took conservative measures during the economic crisis to prepare for potential recovery.
2) The bank maintained strong capital and liquidity positions despite challenges like downward pressure on interest margins and subdued loan demand.
3) Efficiency improved over 2009, with cost to income ratio down 4 percentage points and personnel expenses down 17.2% from 2008.
The document provides economic highlights and figures for Israel for Q3 2011. It includes key indicators such as GDP growth, exports, unemployment, inflation rates, and Israel's main trading partners. GDP grew by 4.7% in Q3 2011, exports reached $23.1 billion, and unemployment fell to 5.5%. Israel's top trading partners are the US, China, UK, Germany, and Switzerland.
The document provides key economic indicators and facts about the Indian economy. It shows India's population, poverty rates, literacy rates, and other indicators have greatly improved since the 1980s. While agriculture still employs many, the services and manufacturing sectors have grown. Challenges remain in reducing poverty and the fiscal deficit. India has experienced strong GDP growth in recent years and its successes include the IT, pharmaceutical and manufacturing industries.
1) Best Buy Co., Inc. is the largest consumer electronics retailer in North America with a 18% market share in the US.
2) Best Buy has experienced strong growth in revenue, operating income, and earnings per share in recent fiscal years through expanding its store base and developing new retail formats.
3) Best Buy plans to continue growing its core business by focusing on services, full solutions, new store formats, and private label offerings while also expanding into new markets like Canada, China, and the UK.
This document provides an overview of The Sherwin-Williams Company to investors. It discusses the coatings industry and Sherwin-Williams' position as a top manufacturer. It highlights Sherwin-Williams' diversified customer base in architectural, industrial, and OEM coatings. It also outlines the company's controlled distribution network, leading brands, investment in technology, acquisition strategy, and financial strength.
Eletropaulo reported strong financial results in the 2nd quarter of 2005. Net income increased significantly to R$136.8 million compared to a loss in the previous quarter, due to higher operating revenue and lower net financial expenses. Revenue grew due to a tariff adjustment and the completion of a tariff review from 2003. The company also issued bonds of R$474 million in the international market and had its credit rating upgraded.
The Knights of Columbus 2011 Investment Review provides information about their investment strategy and performance. They focus on investing in investment grade corporates and agencies across sectors as well as high quality mortgage securities. They avoid risky investments like junk bonds, derivatives, and structured products. Over 2011, their total assets grew to $18 billion with 87.5% in bonds, 2.1% in stocks, and the remainder in real estate and other assets. Their annualized returns over various periods exceeded their peers, with strong credit ratings reflecting their conservative approach.
The document discusses opportunities in Mexico's aerospace industry for foreign investment. It notes that aerospace companies are increasingly locating operations in Mexico to take advantage of lower wages and an increasingly skilled workforce. Mexico's aerospace exports have more than tripled since 2004. Companies like Bombardier and Goodrich have established new factories in Mexico to manufacture aircraft parts at significantly lower costs. The electronics and automotive industries have also seen major investment and growth in Mexico due to competitive advantages like labor costs and geographic proximity to the US market.
- The real estate market statistics document provides data on home sales, listings, prices, and absorption rates for March 2009 compared to March 2008 for the overall MLS area as well as the Aurora North and Aurora South submarkets.
- Key findings include declines in home sales, listings, and prices year-over-year for March 2009 in the overall market as well as both submarkets. Absorption rates also decreased across the board.
- Average home prices fell 8.4% overall and condo prices dropped 12.6% in March 2009 compared to the previous year. Both Aurora North and Aurora South saw price decreases as well as significant drops in active listings and new listings.
State of the U.S. Online Retail Economy in Q2 2010 comScore
comScore Chairman Gian Fulgoni presents his quarterly review of the state of the U.S. online retail economy during this webinar from Thursday, August 19. This installment includes an overview of e-commerce trends in the second quarter of 2010 and survey findings that highlight consumer sentiment about the current state of the economy.
This document discusses the economic crisis and recession. It analyzes multiple factors that contributed to the problems, including the housing crisis, overleveraged financial institutions, falling asset prices, and a weak household balance sheet both in the US and globally. It examines trends in areas like inflation, interest rates, home prices, mortgage originations, derivatives, and consumer spending to explain how imbalances developed over time. The document concludes that this crisis is more secular and global in nature rather than a "normal" crisis, and will take time to work through reduction of debt and risk.
- Yahoo reported Q3 2008 revenue of $1.786 billion, a 1% increase year-over-year. Revenue excluding traffic acquisition costs (Revenue ex-TAC) decreased 2% year-over-year to $1.325 billion.
- Operating cash flow (OCF) for Q3 2008 was $410 million, a 12% decrease year-over-year, and included $37 million in costs related to Microsoft proposals and other strategic initiatives.
- Free cash flow (FCF) for Q3 2008 was $231 million, a 52% FCF to OCF ratio, and included a one-time payment from AT&T in the prior quarter.
- Non-GAAP earnings
2002 - Third Annual Analyst & Investor Meeting Financial PresentationEmbraer RI
This document summarizes Embraer's third annual investor meeting held on November 21-22, 2002. It provides an overview of Embraer's shareholder base, financial results for the third quarter of 2002, sales financing methods, asset management strategy, and working capital measures. The presentation discusses Embraer's commitment to customer financial needs while transitioning away from long-term aircraft financing. It also reviews Embraer's captive insurance company and aircraft leasing subsidiary used to manage risks and residual aircraft values.
The document provides a high-level summary of Boston Scientific Corporation's activities in 1996 including:
1) Continuing the integration of nine major acquisitions and restructuring the worldwide organization.
2) Re-engineering business processes to improve strategic alignment and customer focus.
3) Achieving record revenue and earnings growth of 30% while accelerating the building of "Strategic Mass".
The document analyzes credit trends at Fifth Third Bank in 2Q08. Key points:
1) Non-performing assets (NPAs) and net charge-offs (NCOs) increased significantly in 2Q08 and were driven by weakness in commercial real estate and residential mortgages, particularly in Michigan and Florida.
2) The commercial construction portfolio saw rising delinquencies, NPAs, and NCOs as homebuilder and land development loans struggled from declining property values.
3) Within residential mortgages, higher delinquencies indicated ongoing stress from weak economic conditions and falling home prices.
The document provides financial highlights and selected information for Jacobs Engineering Group Inc. for fiscal years 2006, 2007, and 2008:
- Revenues increased substantially over the three years, reaching $11.3 billion in FY2008. Net earnings and EPS also grew each year.
- Backlog reached a record high of $16.7 billion in FY2008, up $3.1 billion from the prior year.
- The company added over 7,900 employees in FY2008 through acquisitions and recruitment.
- FY2008 was a successful year with record financial results and the highest quality scores for client satisfaction.
This document summarizes the financial results and position of Boston Scientific for 2003. Key points include:
- Net sales increased 19% to $3.476 billion, driven by sales of the TAXUS drug-eluting stent in international markets.
- Gross profit margin increased 220 basis points to 72.4% due to cost improvements and a favorable sales mix.
- Operating expenses grew to support new product launches like TAXUS. R&D expenses increased to 13% of sales to support the drug-eluting stent program.
- Net income was $472 million or $0.56 per share. Management expects significant sales growth in 2004 following the U.S. launch of TAXUS.
1) Monsanto's mid-year pipeline update indicates continuing momentum, with new analyses of 2005 field research supporting products like YieldGard Rootworm and dicamba-tolerant soybeans.
2) Early results from the Southern Hemisphere reinforce the potential for drought-tolerant corn and higher-yielding soybeans.
3) New initiatives like "High-Impact Technology" projects aim to streamline development and improve the commercial readiness of promising pipeline opportunities such as Roundup Ready 2 Yield soybeans.
- The document is a letter from the Chairman and CEO of First American Corporation to shareholders updating them on the company's annual report and proxy materials for 2007.
- Instead of sending a traditional annual report and proxy statement, the company is sending its 2007 Form 10-K and amendment, which includes most of the information that would be in the proxy statement.
- The annual shareholder meeting date has not yet been set, but once it is, shareholders will receive proxy materials and a summary annual report highlighting the company's financial performance and changes ahead.
1) Fifth Third Bank reported mixed results for 2Q08, with strong core pre-tax pre-provision income growth offset by a significant increase in net charge-offs and provision expense.
2) Credit quality deteriorated, with non-performing assets and net charge-offs growing substantially year-over-year. Residential and commercial real estate loans experienced the largest increases in credit issues.
3) Michigan and Florida were identified as the bank's most stressed markets in terms of credit problems.
Presentation, Economic Outlook for 2013 and Beyond, presented by Michael Brown, Wells Fargo Securities, presented at Winter 2012 NCLGBA Conference, 12/7/12
Presentation by Meyer Shields, Managing Director Stifel, Nicolaus & Company, Inc. to the 66th Annual Fowler Seminar on Oct 12 2012 titled Equity Analyst’s View on Insurance
Comscore q2 2010 2nd Q Internet statisticsCfederman
The document summarizes key findings about the state of the U.S. online retail economy in Q2 2010. It found that total e-commerce sales grew 7% year-over-year, with non-travel sales up 9%. Lower and higher income segments drove online growth, while mid-income saw no growth. Consumers remain concerned about unemployment and have changed spending habits like eating out less, which 43% say will be permanent.
Best Buy executives Brad Anderson and Darren Jackson presented at a Lehman Brothers retail seminar on May 2, 2006 about Best Buy's focus on customer centricity and growth strategies. Best Buy aims to transform its core business through an integrated customer-centric operating model while enhancing the customer experience through services like Geek Squad and expanding into new markets like China and small businesses. The company's priorities are transforming its core business, enhancing the customer experience, and extending its business into new markets to drive top-line and bottom-line growth.
Banco Santander reported its 1Q09 results on April 29th, 2009. The presentation provided an overview of Brazil's macroeconomic scenario, noting that while GDP growth slowed in 2009 due to the global crisis, Brazil's fundamentals remain strong. It discussed how Brazil's financial system is well-capitalized and more resilient compared to previous crises. Finally, it summarized Santander's strategy and franchise in Brazil, highlighting the progress of its integration and how the combined network provides better service and access for its over 9 million customers.
Questions For Management And Directors, A Roadmap For Expansion And Growthharrylong
Fremont Michigan Insuracorp provides property and casualty insurance in Michigan. While it has a strong balance sheet and growing book value, its personal lines have become unprofitable despite growing premiums. The document raises concerns about this and questions what management is doing to address the issue. It suggests management should take actions like ranking agencies by losses, stopping credit scoring, and expanding operations outside of Michigan to improve profitability.
Apl investor presentation may 2012 final versionParish Aggarwal
- Consolidated total income for Q4 FY 2011-12 grew by 29.3% to Rs. 2546 crores compared to the same period last year.
- Operating profit grew by 32.7% to Rs. 351.3 crores and profit after tax grew by 39.5% to Rs. 259.5 crores.
- Material costs increased by 32% due to rising input prices, impacting operating margins.
- Other income increased substantially due to treasury income and dividend received from subsidiaries.
- The document is an economic outlook report from Wells Fargo for 2010 that discusses challenges and opportunities facing the US and global economies in the coming year.
- It states that while the recession may be over, 2010 will still be difficult with risks remaining. The economy has been thrown off course and is still unstable.
- The report identifies three main problems: 1) how to stabilize the economy with policy tools, 2) determining the new economic course and growth pace, and 3) how goals of growth, inflation, jobs, and the dollar have changed.
- The outlook predicts subpar 2.2% growth in 2010 with contributions from rising consumer spending, business investment, housing, and federal spending but high
This document provides an economic outlook for 2010 from Wells Fargo Economics Group. It discusses three main problems facing the economic recovery: 1) how to stabilize the economy using policy tools, 2) determining the pace and composition of economic growth, and 3) how goals for growth, inflation, employment, and the dollar have changed. While the recession may be over, growth in 2010 will be subpar and uneven. Risks include high unemployment, weakness in housing and consumer spending, and the sustainability of the recovery without government support. Policymakers must determine how long expansionary policies can continue given rising public debt and dependence on foreign capital.
Optimum ventures - Bevo Agro - Take Private ProposalBen Cappellacci
This is a preliminary round presentation deck for the UBC Finance Club Pacific Venture Capital Competition. It was created by Ben Cappellacci, Chris Fenn, Raena Kai and Scott Redwood.
More enquiries from corporate occupiers in Q4 2009 though conversion rates remain low. Peripheral areas like Powai are showing signs of revival with strong leasing activity. Many large transactions over 100,000 sq ft have been postponed to Q1 2010. Rents and capital values are under pressure due to increasing new supply, leading to more intense competition among property owners and developers to attract occupiers.
The document discusses Ireland's need for fiscal consolidation given its large budget deficit and rising debt levels. It notes that without policy changes, Ireland's general government budget deficit will exceed 10% of GDP in 2009 and its gross government debt will reach around 50% of GDP. If annual borrowing remains above 10% of GDP, Ireland's debt could reach 100% of GDP fairly quickly. The document argues that significant cuts to current and capital government spending are required to reduce borrowing and contain the growth of debt. Further tax increases may also be needed to achieve fiscal consolidation.
Regions Financial reported a loss of $9.01 per share for the 4th quarter of 2008 due to a $6 billion goodwill impairment charge. Excluding this charge, earnings were $0.35 per share. Credit quality improved as non-performing assets declined by $3.1 billion from aggressive management. However, net charge-offs increased to 3.19% and the provision for loan losses was $1.15 billion. Regions remains well capitalized and has strong liquidity with customer deposits funding most assets.
Regions Financial reported a loss of $9.01 per share for the 4th quarter of 2008 due to a $6 billion goodwill impairment charge. Excluding this charge, earnings were $0.35 per share. Credit quality improved as non-performing assets declined by $3.1 billion from aggressive management. However, net charge-offs increased to 3.19% and the net interest margin declined. Regions remains well capitalized and has strong liquidity with customer deposits funding most assets.
- Revenue for CMC was up 20% year-over-year for the quarter at Rs. 240.84 crore compared to Rs. 201.35 crore in the same quarter last year.
- EBITDA was Rs. 17.14 crore for the quarter, up 103% year-over-year. However, the quarter was impacted by a Rs. 12.58 crore provision for a contract under dispute.
- Profit before tax was Rs. 15.38 crore for the quarter, up 9% year-over-year.
The Philippine economy is expected to continue strong growth in the coming years, driven by robust consumer spending, increased investment, and sustained government spending. Inflation will remain low and interest rates are expected to stay at current levels, supporting economic activity. The current account surplus and prudent fiscal management have improved the country's credit ratings and investment environment.
This document discusses strategies for addressing the foreclosure crisis in communities in the Chicago region. It finds that foreclosures have disproportionately impacted communities of color and increased the number of vacant properties in these areas. The document outlines two key local strategies: (1) preventing foreclosures by addressing unemployment and underwater mortgages, and (2) reducing the impact of vacant properties through an ordinance requiring mortgage servicers to register and maintain vacant properties.
The presentation discusses Sherwin-Williams, a global coatings manufacturer. It provides an overview of the company, the coatings industry, and Sherwin-Williams' competitive advantages. These include a diversified customer base, controlled distribution network, leading brands, investment in technology, and a strategy of growth through acquisitions. Financial highlights show Sherwin-Williams has maintained profitability and strong cash flows despite challenges in its end markets.
Q3 2003 Motorola Inc. Earnings Conference Call Presentationfinance7
- Motorola reported Q3 2003 earnings with total sales of $6.8 billion, a 4.5% increase over Q3 2002. Earnings per share remained flat at $0.06 excluding special items.
- Gross margin declined due to increased handset competition and pricing pressures in Asia combined with sales of discontinued low-margin products. However, SG&A and R&D expenses as a percentage of sales improved.
- Operating margin remained flat at 4.4% compared to Q3 2002. Cash flow was strong with $1.1 billion in operating cash flow and $0.9 billion in free cash flow.
Peru offers attractive investment opportunities due to its strong economic growth, natural resources, and favorable climate for investment. The country has experienced GDP growth of nearly 10% annually in recent years and exports have tripled over 5 years. Peru also provides a stable macroeconomic environment with low inflation and a stable currency. The legal framework guarantees basic investor protections and tax stability. These factors make Peru a top destination for foreign direct investment in Latin America.
This document provides an overview and highlights of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the last 12 months including the Telewest merger and Virgin Mobile acquisition. The fourth quarter saw revenue growth across all segments, strong net additions, and continued ARPU and customer care improvements. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
This document provides an overview of Virgin Media's performance in the fourth quarter of 2006. It discusses the company's achievements over the past year including the Telewest merger and Virgin Mobile acquisition. The highlights of Q4 2006 include revenue growth across all segments, strong broadband and TV subscriber additions, and increased triple play penetration. Priorities for 2007 include delivering on the new Virgin brand, targeting competitor customers, driving efficiency and improving customer care.
Virgin Media reported its financial results for the first quarter of 2007. Key highlights include:
1) Strong growth in broadband, TV and mobile contract customers due to compelling offers and marketing campaigns promoting bundled services. However, fixed line customers continued to decline due to increased competition.
2) ARPU was slightly down due to lower fixed line usage, but triple play penetration and Old NTL ARPU increased, pointing to continued ARPU growth.
3) Customer churn improved to 1.6% due to more rigorous credit policies and efficient sales channels, while Sky basics had a minimal impact in Q1.
4) Mobile contract growth remained strong through cable cross-sell, while pre-pay declined season
This document summarizes Virgin Media's performance in the first quarter of 2007. It discusses Virgin Media's progress on key priorities such as brand strength, targeting competitors, cable integration, and cross-sell opportunities. Financial metrics like revenue, customer additions and disconnects, and ARPU are also reviewed. Challenges from increased competition and the impact of Sky's new "Basics" package are addressed.
This document provides a summary of Virgin Media's financial performance in the second quarter of 2007. It discusses declines in revenue due to customer churn related to the loss of Sky basics channels, but notes improving trends in areas like TV and broadband. Key points highlighted include strong growth in video on demand usage, successful bundling of products, expansion of high speed broadband services, and continued strength in the mobile business. The summary also previews upcoming content initiatives and their potential to further drive customer growth and engagement.
This document summarizes Virgin Media's financial performance in the second quarter of 2007. Key points include: losses of Sky basic channels impacted customer churn but TV performance was better than expected; strong mobile contract sales and bundling of products continued; and while ARPU was affected by retention activities, cash flow outlook remains strong. The document provides details on customer additions and disconnects, growth of triple play bundling, and increases in video on demand usage.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It notes significant improvements in customer and revenue growth metrics compared to previous quarters. Revenue was up slightly from the second quarter due to growth in the consumer, business services, content, and mobile segments. Operating cash flow also increased due to lower costs and certain one-time benefits. However, proactive investment in customer growth was also noted as impacting operating cash flow. Net debt remained substantial as of the end of the third quarter.
This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It discusses improvements in customer and revenue growth metrics compared to previous quarters. Specifically, it notes record quarterly gross additions and reduced churn. It also summarizes growth in the company's broadband, TV, telephony, mobile, and business services segments. The document concludes with discussions of operating cash flow, revenue, and net debt levels.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives. He highlighted opportunities in premium TV, basic pay-TV, free DTV and contract mobile. Berkett also outlined Virgin Media's network advantages in speed and reach, and strategies to increase customer value through volume, ARPU and tenure. Mobile was discussed as an important driver of consumer value through cross-selling. Valuable tax assets were also noted.
The document summarizes an UBS media conference by Acting CEO Neil Berkett of Virgin Media on December 5, 2007. Berkett discussed Virgin Media's transformation through integration, re-engineering growth initiatives, and building the platform for growth. He highlighted opportunities in premium TV, basic pay-TV, free DTV, broadband, and mobile services. Berkett also covered Virgin Media's network advantages, content assets, tax assets, and the significant potential asset value of the company's network, consumer base, mobile business, and content.
This document provides a summary of Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF increased slightly compared to last quarter. Capex remained high at 13.7% of revenue to support network upgrades including faster broadband speeds. Revenue declined slightly due to seasonal factors in certain business units.
This document summarizes Virgin Media's financial and operational results for the first quarter of 2008. Key highlights include continued strong growth in broadband and TV customers, record-low cable churn of 1.2%, and stable cable ARPU despite non-recurring benefits in the previous quarter. OCF was £324 million for Q1 2008, up slightly from the previous quarter. Cash capex was £125 million for network upgrades and expansion.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the same period last year.
This document provides a summary of Virgin Media's performance in the second quarter of 2008. It discusses financial results including operating cash flow growth and SG&A reductions. It also reviews operational metrics such as subscriber growth, churn rates, broadband and TV services. Virgin Media saw increased revenue and profitability in Q2 2008 compared to the prior year through lower churn, higher triple-play penetration and a focus on quality customer growth. The company believes its cable network gives it advantages over DSL providers that will increase further after investments are completed.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenues increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network upgrades and expand service offerings.
This document provides a summary of Virgin Media's financial results for the third quarter of 2008. It reports that Virgin Media continued to see growth in key metrics such as on-net customer additions, broadband and TV subscriber growth, and improving triple play penetration. ARPU increased through price increases, cross-selling, and upselling efforts. Mobile contract customer growth was strong through cross-selling to cable customers. Content revenue increased for VMtv but declined for Sit-Up. Overall revenue was flat, while operating cash flow and margins declined slightly compared to last year. Capital expenditures remained high to continue network investments.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. Key points include plans to: 1) lead in next generation broadband through upgrades to 10Mbps and beyond; 2) lead the on-demand TV revolution through growing video on demand usage and iPlayer views; and 3) leverage mobile as a third screen through bundling mobile services. Virgin Media also aims to build a more efficient customer focused organization through an operational transformation program targeting over £120m in annual cost savings by 2012.
The document discusses Virgin Media's strategy to leverage its network advantages for renewed growth. It aims to lead in next generation broadband, lead the on-demand TV revolution, and leverage mobile as a third screen. Virgin Media has the best broadband economics due to its high market share and lower costs. It is focusing on upgrading customers to higher broadband tiers, growing on-demand TV and video usage, and integrating mobile offerings. The company expects operational transformation to deliver over £120 million in annual cost savings by 2012.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Introductions of the senior management team who will be presenting.
The document provides an agenda and overview for an investor and analyst day being held by Virgin Media in London on November 13, 2008. It includes:
1) A disclaimer stating that forward-looking statements in the document involve risks and uncertainties that could cause actual results to differ materially.
2) An agenda for the day's presentations on Virgin Media's strategy, growth initiatives, network strengths, financial structure and regulatory progress.
3) Biographies and photos of Virgin Media's management team, including the CEO and heads of key business units.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
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The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
FITB_ASM_2008
1. Annual Meeting of Fifth Third Shareholders
April 15, 2008
Kevin Kabat, President & CEO
Fifth Third Bank | All Rights Reserved
2. Agenda
Difficult economic environment
Credit mitigation
Comparative outperformance
Operating strengths
Building a better tomorrow
2 Fifth Third Bank | All Rights Reserved
3. Difficult environment
Labor market
6.00% Retail and consumer spending
6.00%
5.00% 5.00%
4.00% 4.00%
3.00% 3.00%
2.00%
2.00%
1.00%
1.00%
0.00%
0.00%
10 Yr. Avg. Last 6 Mos. 2008 F
10 Yr. Avg. Last 6 Mos. 2008 F
Consumer Spending (Annual) Retail Sales (Annual)
GDP Unemployment
Retail sales and consumer spending levels effect
Unemployment is expected to approach 6% in 2008 with
continued talk of recession. A prolonged recession will
Detroit approaching 9%.
increase loss assumptions for 2009 and beyond.
50.00% 6.00%
Interest rate market
Housing market
40.00% 5.00%
30.00%
4.00%
20.00%
3.00%
10.00%
2.00%
0.00%
1.00%
-10.00%
-20.00% 0.00%
10 Yr. Avg. Last 6 Mos. 2008 F 10 Yr. Avg. Last 6 Mos. 2008 F
Growth in Foreclosures as % of Total Loans Housing Price Appreciation (Annual) Fed Funds Spreads (Bank Sub Debt)
Foreclosures will more than double 2007’s elevated levels and While the Fed is aggressively reducing rates to bolster
housing depreciation will significantly impact losses on these markets, credit spreads continue to widen.
foreclosures.
Current banking environment has severely deteriorated. 2008 looks to be the banking industry’s
worst year in the past two decades.
3 Fifth Third Bank | All Rights Reserved
4. Difficult environment
Housing prices have declined significantly in many parts of our footprint
Map from Global Insight/National City Corporation
4 Fifth Third Bank | All Rights Reserved
5. Difficult environment
2007 foreclosure rates Foreclosure rates by state
Nevada
1 3.38
Florida
2 2.00
Michigan
3 1.95
California
4 1.92
Colorado
5 1.92
Ohio
6 1.80
Georgia
7 1.57
Arizona
8 1.52
Illinois
9 1.25
Indiana
10 1.03
Our footprint has experienced very high foreclosure rates during 2007, most notably in
Florida, Michigan, and Ohio
Source: Realty Trac
5 Fifth Third Bank | All Rights Reserved
6. 2007 total return
(change in price plus dividends)
10.00%
0.00%
-10.00%
-20.00%
MI: -29%
-30.00% S&P banks: -30%
HBAN: -34%
FITB: -35%
KEY: -36%
-40.00%
-50.00%
NCC: -53%
-60.00%
12/06 03/07 06/07 09/07 12/07
6 Fifth Third Bank | All Rights Reserved
7. Credit containment
Fifth Third has consistently maintained conservative underwriting
standards throughout all credit cycles.
Geographic and economic issues have required aggressive management
action
Eliminated all brokered HELOC production
Suspended all new developer lending
Significantly tightened underwriting limits and exception authorities
Centralized all credit approvals
Major expansion of commercial and consumer workout teams
Aggressive write downs in stressed geographies
Significant addition to reserve levels
Direct executive management oversight of every major credit decision
Fifth Third has moved aggressively to stay ahead of emerging credit issues
7 Fifth Third Bank | All Rights Reserved
8. Credit containment
Fifth Third has developed and implemented targeted strategies to help our
customers who are experiencing financial difficulties. Options include:
— Refinancing – saleable or on balance sheet
— Rate reductions, term extensions and loss mitigations
Loss mitigation strategies have been enhanced as follows:
— Payment affordability – expanded payment reduction options
including:
– Rate reductions
– Interest and fees waivers
– Principal balance reductions (temporary or permanent)
– Suspension of penalty interest assessed after
delinquency grace period.
8 Fifth Third Bank | All Rights Reserved
9. Peer performance summary
Large
Midwest 2007
FITB bank
peers (3) performance
peers (2)
2007
2007 vs. peers
2007
Average core deposit
3% 1% 1% Outperformed
growth
Average loan growth 7% 5% 6% Outperformed
NII growth 5% 2% 1% Outperformed
Operating fee growth(1) 9% 3% 6% Outperformed
Operating efficiency ratio(1) 56.4% 58.7% 58.6% Outperformed
Operating ROE(1) 14.3% 10.0% 10.0% Outperformed
NPA growth 134% 142% 133% In line
Continue to outperform on key value drivers; credit challenging
(1) Excludes certain previously reported one-time charges from fee growth, efficiency ratio, and ROE . Reported fee growth was 23%, reported efficiency ratio was 60.2%, reported ROE was 11.2%.
(2) Large bank peer average consists of BBT, CMA, HBAN, KEY, MTB, MI, NCC, PNC, RF, STI, USB, WB, WM, WFC and ZION; for peer deposit, loan, NPA,
and fee comparisons, excludes HBAN, NCC, PNC, RF, WB and WFC due to significant impact of acquisitions.
(3) Midwest peer average consists of HBAN, KEY, MI, CMA, NCC and USB, except where outlined above.
Source: SNL and company reports
9 Fifth Third Bank | All Rights Reserved
10. Strong underlying performance
(CAGR: 2007 vs. 2003: per share)
Fifth Peer Midwest
Third Group2 Peers3
Loan growth 13% 9% 8%
Core deposit growth 9% 6% 4%
Processing fee growth(1) 16% 14% N/A
Credit card loan growth 22% 19% 17%
Operating efficiency ratio(1) 56.4% 58.7% 58.6%
Operating ROE(1) 14.3% 10.0% 10.0%
1 Excludes certain previously reported one-time charges from fee growth, efficiency ratio, and ROE: reported efficiency ratio was 60.2%, reported ROE was 11.2%.
2 Median of large bank peers; median revenue growth of seven processing companies (CEN, DST, PAYX, ADS, FISV, GPN, TSS);
3 Average of large Midwest peers (NCC, HBAN, MI, KEY, CMA, USB).
Source: SNL Financial; data shown per share to adjust for effect of acquisitions.
10 Fifth Third Bank | All Rights Reserved
11. Strong tangible capital position
Tangible common equity as
% of tangible assets
9.01%
7.99%
6.46%
Target : 6-6.5%
6.03% 6.02% 5.99%
5.88%
5.70%
5.47%
5.27%
4.95% 4.90%
4.81% 4.74%
4.61%
4.22%
3.98%
3.65%
2.93%
MI CMA KEY FITB WFC STI RF ZION BBT NCC MTB JPM HBAN USB PNC WM WB BAC C
Peer group: U.S. banks sharing similar geography or debt ratings.
11 Fifth Third Bank | All Rights Reserved
Source: SNL
12. Fifth Third differentiators
Integrated affiliate delivery model
Aggressive sales culture
Operational efficiency
Streamlined decision making
Integrated payments platform (FTPS)
Acquisition integration
Customer satisfaction
12 Fifth Third Bank | All Rights Reserved
13. University of Michigan – ACSI survey
Surveyed customers of large U.S. banks
79 2007 key actions
Financial center service
optimization initiative launched
Wachovia
Added KDI component to new
74 74
Fifth Third incentive compensation plan
72 Chase
Implemented a consistent
B of A process and support tools for
69 Wells
69 handling customers problems at
the financial centers and call
Citigroup
center
Created a central escalation
team to manage problems that
cannot be resolved immediately
2007
*Fifth Third Bank engaged the American Customer Satisfaction Index (ACSI) in custom research projects surveying Fifth Third Bank customers in the 4th quarter of 2007. In the surveys, ACSI
used the same statistical methodology as the independently measured banks, Wachovia, Bank of America, Chase, Wells Fargo, and Citigroup
13 Fifth Third Bank | All Rights Reserved
14. Geographic diversification
First quarter 2004 Today*
Traverse
Traverse City
City
Grand Rapids
Grand Rapids
Detroit
Detroit
Chicago
Chicago Toledo Cleveland
Toledo Cleveland Pittsburgh
Columbus
Columbus
Indianapolis
Indianapolis
Cincinnati
Cincinnati Huntington
Florence
Florence
St. Louis Evansville Louisville
Evansville Louisville
Lexington
Lexington
Raleigh
Nashville
Charlotte
15 branches in Florida Atlanta
Augusta
1Q04 Today*
Jacksonville
Assets $94B $116B
Deposits $55B $79B Orlando
Tampa
Banking centers 960 1,296 Fifth Third’s current footprint Naples
First Charter (subject to regulatory
# of states with branches 6 12 approval)
First Horizon branches (pending)
* Pro forma as of 12/31/07 for pending acquisitions
14 Fifth Third Bank | All Rights Reserved
15. Fifth Third: building a better tomorrow
Consistently outperform the U.S. banking industry
Deliver growth in excess of industry
Enhance the customer experience
Increase employee engagement
Institutionalize enterprise operational excellence
15 Fifth Third Bank | All Rights Reserved
16. Cautionary statement
This report may contain forward-looking statements about Fifth Third Bancorp and/or the company as combined acquired entities within
the meaning of Sections 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and 21E of the Securities
Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, that involve inherent risks and uncertainties. This report may
contain certain forward-looking statements with respect to the financial condition, results of operations, plans, objectives, future
performance and business of Fifth Third Bancorp and/or the combined company including statements preceded by, followed by or that
include the words or phrases such as “believes,” “expects,” “anticipates,” “plans,” “trend,” “objective,” “continue,” “remain” or similar
expressions or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may” or similar expressions. There are
a number of important factors that could cause future results to differ materially from historical performance and these forward-looking
statements. Factors that might cause such a difference include, but are not limited to: (1) general economic conditions and weakening in
the economy, specifically the real estate market, either national or in the states in which Fifth Third, one or more acquired entities and/or
the combined company do business, are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or
other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate
environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6)
our ability to maintain required capital levels and adequate sources of funding and liquidity; (7) changes and trends in capital markets; (8)
competitive pressures among depository institutions increase significantly; (9) effects of critical accounting policies and judgments; (10)
changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory
agencies; (11) legislative or regulatory changes or actions, or significant litigation, adversely affect Fifth Third, one or more acquired
entities and/or the combined company or the businesses in which Fifth Third, one or more acquired entities and/or the combined company
are engaged; (12) ability to maintain favorable ratings from rating agencies; (13) fluctuation of Fifth Third’s stock price; (14) ability to attract
and retain key personnel; (15) ability to receive dividends from its subsidiaries; (16) potentially dilutive effect of future acquisitions on
current shareholders' ownership of Fifth Third; (17) effects of accounting or financial results of one or more acquired entity; (18) difficulties
in combining the operations of acquired entities; (19) ability to secure confidential information through the use of computer systems and
telecommunications network; and (20) the impact of reputational risk created by these developments on such matters as business
generation and retention, funding and liquidity. Additional information concerning factors that could cause actual results to differ materially
from those expressed or implied in the forward-looking statements is available in the Bancorp's Annual Report on Form 10-K for the year
ended December 31, 2007, filed with the United States Securities and Exchange Commission (SEC). Copies of this filing are available at
no cost on the SEC's Web site at www.sec.gov or on the Fifth Third’s Web site at www.53.com. Fifth Third undertakes no obligation to
release revisions to these forward-looking statements or reflect events or circumstances after the date of this report.
16 Fifth Third Bank | All Rights Reserved
17. Annual Meeting of Fifth Third Shareholders
April 15, 2008
Fifth Third Bank | All Rights Reserved