Fifth Third says expects to generate positive operating leverage in 2017
Says broader landscape remains "uncertain." While many key macroeconomic indicators remain largely positive, notes that lowered inflation expectations are dampening the possibility of future rate hikes; the political atmosphere continues to be a significant contributor to the overall uncertainty, which has resulted in lowered loan growth across the industry. Says "some" hope for meaningful corporate tax reform. Expects to generate positive operating leverage in 2017. Plans to achieve long-term North Star profitability targets regardless of the interest rate environment. Expects to record a ~$365M pre-tax step-up gain upon close of WorldPay acquisition. Comments taken from slides being presented at the Barclays Global Financial Services Conference.