Fifth Third Bank 2004 Annual Report Download - page 11

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9
Fifth Third is investing in
technology in order to
improve efficiency, provide
greater convenience for our
customers and drive
financial performance.
We have invested
significantly over the past
couple of years and spent a
great deal of time and
effort upgrading our sales
and support systems.
Many of our customer
information systems have
been enhanced to provide
for increased availability of
information, reliability and
timeliness. Significant
upgrades were completed
this year to our online
banking platform, online
customer interfaces,
banking center
workstations, network
capacity and numerous
sales information systems.
We are now able to access
more timely and detailed
financial information
regarding sales and
profitability results. This
information can be viewed
on several levels, including
line of business, affiliate,
officer and banking center.
...in TECHNOLOGY
In addition to core growth
in our established markets,
Fifth Third periodically
utilizes acquisitions as a
means of expanding its
presence and gaining entry
into new metropolitan
markets. Our approach to
acquisitions has remained
unchanged over the years.
Our primary hurdle when
evaluating any transaction
is determining whether we
can grow revenue from the
resulting platform. Cost
cutting in the first year is
not a path to long-term
success and does not meet
our return requirements.
We are interested in
adding platforms in large,
deposit-rich metropolitan
markets adjacent to our
footprint that when
combined with expansion
efforts will enable us to
achieve #1 market share
over time. This holds true
for our most recent
acquisition of First
National. This acquisition
provides Fifth Third with a
tremendous platform and
opportunity in the most
attractive and fastest
growing markets in
Western and Central
Florida. We believe the
foundation we have
acquired will easily
assimilate into our affiliate
bank operating model and
become an integral part of
Fifth Third’s continuing
growth.
...in ACQUISITIONS
Fifth Third asks employees to
be leaders in sales and
service and matches that
action with generous
performance incentives and a
commitment to career
development.