Fifth Third Bank 2002 Annual Report Download - page 42

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FIFTH THIRD BANCORP AND SUBSIDIARIES
40
Notes to Consolidated Financial Statements
26. Segments
The Bancorp’s principal activities include Retail Banking,
Commercial Banking, Investment Advisory Services and Electronic
Payment Processing. Retail Banking provides a full range of deposit
products and consumer loans and leases. Commercial Banking offers
banking, cash management and financial services to business,
government and professional customers. Investment Advisory Services
provides a full range of investment alternatives for individuals,
companies and not-for-profit organizations. Fifth Third Processing
Solutions, the Electronic Payment Processing subsidiary, provides
electronic funds transfer (EFT) services, merchant transaction
processing, operates the Jeanie ATM network and provides other data
processing services to affiliated and unaffiliated customers. General
Corporate and Other includes the investment portfolio, certain non-
deposit funding, unassigned equity, the net effect of funds transfer
pricing and other items not allocated to operating segments.
The financial information for each operating segment is reported
on the basis used internally by the Bancorp’s management to
evaluate performance and allocate resources. The allocation has been
consistently applied for all periods presented. Revenues from
affiliated transactions, principally EFT services from Fifth Third
Processing Solutions to the banking segments, are generally charged
at rates available to and transacted with unaffiliated customers.
The performance measurement of the operating segments is
based on the management structure of the Bancorp and is not
necessarily comparable with similar information for any other
financial institution. The information presented is also not
necessarily indicative of the segments’ financial condition and results
of operations if they were independent entities.
Results of operations and selected financial information by
operating segment for each of the three years ended December 31 is
as follows: