Submitted by Fifth Third Bancorp
Accelerating racial equality, equity and inclusion has always been a key priority for Fifth Third Bank. In the wake of the events of 2020, though, the Bank expanded its efforts and made public its commitment to be a driver of effective, sustainable change for our communities, customers and employees.
After taking steps to listen and learn from our shareholders, we took immediate and strong action in the form of a $2.8 billion, three-year Accelerating Racial Equality, Equity and Inclusion Initiative, or AREEI. Announced in December 2020, the AREEI initiative pledged significant funding for strategic investments, access to capital, financial inclusion and education, and specific actions to further social justice and advocacy.
In the initiative’s first year, Fifth Third delivered over $1.3 billion, 46% of the $2.8 billion plan. This included $1.1 billion in loan capital, $170.6 million in community investments, $25.1 million in financial accessibility efforts, and $12.9 million in philanthropy.
For more information about Fifth Third’s AREEI initiative, including the work done through its community, employee and customer workstreams, read the Bank’s 2021 Environmental, Social and Governance Report.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of Dec. 31, 2021, Fifth Third had $211 billion in assets and operated 1,117 full-service banking centers and 2,322 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 54,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank, National Association. Member FDIC.
Fifth Third’s Purpose is to improve lives and the well-being of its communities by being the One Bank people most value and trust. The Company believes in doing well by doing good and delivering long-term sustainable value to all its stakeholders. Fifth Third is focused on five environmental, social and governance priorities: keeping the customer at the center, demonstrating its commitment to employees, strengthening its communities, promoting inclusion and diversity, and addressing climate change.
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