Fifth Third Bank 2013 Annual Report Download - page 10

Download and view the complete annual report

Please find page 10 of the 2013 Fifth Third Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 192

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192

8 |
BUSINESS DESCRIPTION
e Consumer Bank comprises our branch banking and consumer lending businesses, which
introduce Fih ird to customers and oen provide the rst step in making a valued and
lasting connection with us. With a focus on relationship building and having strong ties in
the community, our local teams have found innovative ways to create real and dierentiated
value for our customers. Our aliate model brings the power of the entire network to a local
level, and that is especially apparent in our Consumer Bank.
CUSTOMER FOCUS
We put the customer at the center of all that we do so that we are in the best position to
address their challenges, goals, and aspirations. e more we understand our customers,
the better we can serve them. We know that each person’s nancial situation is unique and
we are committed to working with them to create benecial outcomes. We provide expert
advice from an integrated team, dedicated service from resourceful employees, and smart
solutions that are tailored to the customer.
Our goal is to make comprehensive oerings available along a value continuum that
customers want, and we expect that to create deeper relationships as a result. Customers
have indicated that convenience and branch proximity are still top factors in selecting a bank,
and a vast majority of our checking account customers have utilized our banking centers
in the past six months. However, with our integrated channel strategy, our services extend
beyond the walls of our banking centers through mobile and online banking capabilities.
We believe that becoming a trusted nancial partner is something that’s earned over time,
by being clear, transparent and direct with customers. We’ve worked diligently over the past
few years to improve our delivery on these aspects of trust. As a result, personal nance
website WalletHub recognized Fih ird as one of only two banks in the top 25 with a
perfect score for transparency in an industry study of checking-fee disclosures. We’re very
proud of this recognition and feel it’s validation of our eorts.
STRATEGY
Over the past several years we’ve executed a multi-step eort to standardize and improve
our sales process, focus on key customer segments, invest in a new deposit product set, and
optimize our service capabilities. Work in many of these areas can never truly be considered
nished. We continue to look for ways to be better and we’re squarely focused on our service
capabilities, and providing a consistent, one bank experience across all business lines.
We will continue to re-shape our physical distribution network using a combination of
traditional branches, smaller branches, and next generation ATMs. Customer behavior
Consumer Bank
$2.3
BILLION
$19.8
BILLION
$48.2
BILLION
1.6
MILLION
1,320
2,586
TOTAL
REVENUE
AVERAGE
LOANS
AVERAGE
CORE
DEPOSITS
FULL-
SERVICE
BANKING
CENTERS
ATMs
ONLINE
BANKING
CUSTOMERS
MOBILE
BANKING
CUSTOMERS
2013
BRANCH
BANKING
HIGHLIGHTS
MORE THAN
700
THOUSAND