Consistent, Sustainable, Long-Term Performance – Made Simple
Submitted by Regions Bank
BIRMINGHAM, Ala., August 25, 2021 /CSRwire/ - Regions Financial Corp. (NYSE:RF) on Thursday announced the release of its latest Annual Review and Environmental, Social and Governance (ESG) Report. The document, linked here, gives Regions’ customers, investors, associates, community partners, and other stakeholders a comprehensive overview of not only the company’s financial performance – but also progress made in addressing a range of environmental and social issues while maintaining strong governance principles.
Specifically, the in-depth report spans the year 2020 – when communities worldwide began to be confronted by a global health crisis the likes of which our society had never experienced. In addition, a series of racial injustices illustrated the need for greater equity and the importance of companies stepping up to serve as part of the solution to systemic racism and biases. Further, the need for more innovation in banking was met by quickly adapting to, and anticipating, evolving customer needs.
Regions and its associates tackled these issues and others head-on – guided by the company’s mission to make life better.
“Despite these unprecedented events, there were specific things that did not change. Our mission and purpose, underscored by our values, remained steadfast,” said John Turner, President and CEO of Regions Financial Corp. “We were there when it mattered in 2020, whether big moments or small touchpoints. And that’s what it’s all about – developing relationships with our stakeholders and delivering on our purpose to create shared value for all of them.”
Regions’ 2020 Annual Review and ESG Report is titled “Consistent, Sustainable, Long-Term Performance – Made Simple.” It stays true to its title with an easy-to-digest, interactive format, and it complements Regions’ existing disclosures on ESG matters and related topics.
Highlights from this latest report include:
Responding to the Health Crisis and Economic Disruption: Regions Bank operated from a position of strength in addressing the financial challenges people and businesses experienced as the pandemic’s impacts grew. At the same time, the company took several steps to protect the health and safety of customers and associates alike. As the pandemic unfolded, Regions quickly:
Elevating Our Commitment to Racial Equity and Economic Empowerment: The nation, and the world, were rocked by a series of racial injustices that served as painful reminders of the progress that has yet to be made in terms of eliminating racism and removing systemic biases. As a financial institution, Regions recognizes it has a key role to serve in creating greater equity and elevating communities. The bank must use its resources and experience in ways that foster more inclusion and unity. Among examples of Regions’ response in 2020:
Accelerating the Cadence of Innovation: Customers’ needs changed dramatically – and quickly – in 2020. Already investing more in digital services, Regions Bank was able to respond in rapid time by meeting changing expectations. Regions is focused on providing an omni-channel banking experience, where customers receive superior service through any number of options. Among highlights in 2020:
Generating Solid Financial Performance in a Challenging Year: Regions finished 2020 delivering top total shareholder returns among peers and strong financial results, despite the challenges endured throughout the year. Highlights included:
Achieving Key Environmental Objectives: The banking industry can serve a key role in helping businesses and industries transition to a lower-carbon economy. Regions is focused on this every day – while also finding ways to reduce the bank’s own emissions. Among examples:
Fostering Financial Inclusion: Year-round, Regions and its associates share insights and guidance to help people manage and grow their finances. Regions is dedicated to helping not only existing customers, but also the unbanked and underbanked. One example of helping increase wealth generation in communities served by Regions is a clear focus on supporting homeownership. Among steps taken in 2020:
The 2020 Annual Review and ESG Report also includes in-depth information about Regions’ governance structure and processes, including a renewed emphasis on ESG practices, performance, and disclosures. Though the report is detailed and thorough, Chief Governance Officer Andrew Nix said it is just a snapshot of the good work accomplished in 2020.
“At Regions, making life better is not just our mission – it’s our promise; it’s what we’re doing every day for the people and places we serve,” Nix said. “The Annual Review and ESG Report provides meaningful updates on a wide range of issues that matter to us and to our stakeholders. And it demonstrates that our work is not over. A culture of continuous improvement is ingrained in our thinking, and we will build on our progress in the years to come.”
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Regions Foundation
Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.
About Regions Community Development Corporation
The Regions Community Development Corporation (RCDC) is a wholly owned subsidiary of Regions Bank and serves as a catalyst to help revitalize communities and improve the lives of economically disadvantaged families in the Regions footprint. RCDC helps fulfill Regions’ mission to make life better by providing debt and/or equity financing for projects and entities with a community-development purpose.
Regions Financial Corporation (NYSE:RF), with $147 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas , and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
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