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Fifth Third Bank Extends More Than $6.5 Billion In Credit To Business Customers

Stocks in this article: FITB

Fifth Third Bank announced today that it has extended more than $6.5 billion in new and renewed credit to business customers from July through September 2012. During the first nine months of 2012, Fifth Third Bank lent more than $20.5 billion to businesses throughout its footprint.

“Fifth Third remains committed to providing businesses access to credit to help them expand and generate jobs,” said John Bultema, executive vice president and head of Business Banking for Fifth Third Bank. “We believe businesses, both large and small, play a key role in revitalizing our economy and our local communities.”

Companies who have received loans from Fifth Third Bank during this time period include:

  • Charter Global, an Atlanta-based information technology consulting and staffing firm. The company secured a line of credit, commercial credit card services, deposit services and a treasury management program through Fifth Third Bank to foster its growth plans .
  • Gentlecare of Vincennes, a full-service nursing home facility in Vincennes, Ind. owned by G.C. Healthcare Services, Inc. The company received a United States Department of Agriculture (USDA) term loan to refinance business debt, improve cash flow and increase access to working capital.
  • Metcam Incorporated, a metal fabricator located in Alpharetta, Ga. The company secured a loan, deposit services and a comprehensive treasury management suite of services from Fifth Third Bank to accelerate cash flow and help increase its market share.

“Fifth Third is focused on active ly listening to our clients to understand their needs and long-term business goals,” said Greg Kosch, executive vice president and head of Commercial Banking for Fifth Third Bank. “We work closely with our clients to provide the right financing and services to improve their access to working capital and to help them grow.”

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $117 billion in assets and operates 15 affiliates with 1,321 full-service Banking Centers, including 105 Bank Mart® locations open seven days a week inside select grocery stores and 2,403 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 39% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2012, had $300 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® National Global Select Market under the symbol “FITB.” Lending is subject to credit review and approval. Fifth Third Bank. Member FDIC.

Copyright Business Wire 2010

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