Recognition honors businesses that influence, drive positive change in business community, society
CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank has been recognized by the Ethisphere®
Institute, a global leader in defining and advancing the standards of
ethical business practices, as one of the 2019
World’s Most Ethical Companies
®.
“We are extremely honored that Fifth Third has been named one of the
World’s Most Ethical Companies by Ethisphere. This recognition is a
testament to our commitment to our employees, customers and communities
as well as our delivering consistent financial results,” said Greg
Carmichael, president, chairman and CEO of Fifth Third Bank. “It also
speaks to our strong governance, risk awareness and risk management, as
well as our enhanced focus on culture and integrity.”
Fifth Third’s core values include working as one bank, taking
accountability, being respectful and inclusive, and acting with
integrity. These values serve as the foundation of the company’s
commitment to responsible banking. In the past year, the Bank continued
to make strides in strengthening its ethics and compliance programs, its
ongoing investment and involvement in the communities within its
footprint, and focus on environmental sustainability.
In 2019, 128 honorees were recognized spanning 21 countries and 50
industries. The 13th class of honorees profoundly illustrates how
companies continue to be a driving force for improving communities,
building capable and empowered workforces, and fostering corporate
cultures focused on ethics and a strong sense of purpose. Fifth Third is
one of five banks to be named among the world’s most ethical companies
and one of only three in the U.S.
“Our commitment to operating with the highest level of ethical standards
is directly related to our vision to be the one bank people most value
and trust,” said Frank Forrest, chief risk officer at Fifth Third.
“Integrity is at the heart of our business. Our customers, employees and
business partners expect us to do the right thing, and every day we
strive to deliver on that expectation.”
“Today, employees, investors and stakeholders are putting their greatest
trust in companies to take leadership on societal issues. Companies that
take the long view with a purpose-based strategy are proven to not only
outperform, but last,” said Timothy Erblich, Ethisphere’s chief
executive officer. “I congratulate everyone at Fifth Third Bank for
earning this recognition.”
Ethics & Performance
Ethisphere’s annual practice of tracking how the stock prices of
publicly traded honorees compare to the Large Cap Index found that the
2019 World’s Most Ethical Companies outperformed the large cap sector
over five years by 14.4 percent and over three years by 10.5 percent.
Methodology & Scoring
The World's Most Ethical Companies assessment is based upon the
Ethisphere Institute’s Ethics
Quotient
® framework, which offers a quantitative way to
assess a company’s performance in an objective, consistent and
standardized manner. The information collected provides a comprehensive
sampling of definitive criteria of core competencies rather than all
aspects of corporate governance, risk, sustainability, compliance and
ethics.
Scores are generated and weighted in five key categories: ethics and
compliance program (35 percent), culture of ethics (20 percent),
corporate citizenship and responsibility (20 percent), governance (15
percent) and leadership and reputation (10 percent). All companies that
participate in the assessment process receive their scores, providing
them with valuable insights into how they stack up against leading
organizations.
Honorees
The full list of the 2019 World's Most Ethical Companies can be found at worldsmostethicalcompanies.com/honorees.
Best practices and insights from the 2019 honorees will be released in a
report and webcast in March and April of this year. Sign
up to receive the report.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio and the indirect parent company of
Fifth Third Bank, an Ohio-chartered bank. As of December 31, 2018, Fifth
Third had $146 billion in assets and operated 1,121 full-service Banking
Centers and 2,419 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 52,000 fee-free ATMs across the United States.
Fifth Third operates four main businesses: Commercial Banking, Branch
Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is
among the largest money managers in the Midwest and, as of December 31,
2018, had $356 billion in assets under care, of which it managed $37
billion for individuals, corporations and not-for-profit organizations
through its Trust and Registered Investment Advisory businesses.
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. Member FDIC.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing
the standards of ethical business practices that fuel corporate
character, marketplace trust and business success. Ethisphere has deep
expertise in measuring and defining core ethics standards using
data-driven insights that help companies enhance corporate character and
measure and improve culture. Ethisphere honors superior achievement
through its World’s Most Ethical Companies recognition program and
provides a community of industry experts with the Business Ethics
Leadership Alliance. More information about Ethisphere can be found at ethisphere.com.
Media Contacts
Fifth Third Bank Media Contact
Danielle Jones
513-534-0162
danielle.jones@53.com
Ethisphere Media Contact
Clea Nabozny
480-397-2658
clea.nabozny@ethisphere.com