CINCINNATI, Sept. 22 /PRNewswire-FirstCall/ -- With the shift in
domestic economic conditions, U.S.-based companies are steadily moving
toward the international marketplace as a viable and necessary element of
their business model. Fifth Third Bank (Nasdaq: FITB) has long recognized
the importance of the global environment and recently introduced a 24-hour
Internet trading platform, providing clients with real-time access to the
Foreign Exchange (FX) markets.
"To successfully navigate and compete in the International arena,
companies must be equipped to manage foreign exchange and the associated
business risks," said Bob Tull, Fifth Third Bank's Managing Director of
Foreign Exchange and Commodities. "The global marketplace never closes, nor
should immediate access to it."
The addition of the online platform gives users a software-free channel
to receive industry data, monitor market conditions and trade in more than
100 currencies. Additionally, the secure online service provides automated
confirmations and customized settlement instructions of trades.
The Internet solution is a complement to the Bank's extensive network
of 10 FX trading desks throughout the Eastern and Midwest United States
(Cincinnati, Columbus, Cleveland, Toledo, Minneapolis, Detroit, Chicago,
St. Louis, Tampa, New York City).
For more than 30 years, Fifth Third Bank has been aggressively
anticipating and servicing the needs of clients utilizing Foreign Exchange
services. According to Tull, a tenured staff of FX and risk professionals,
accompanied by a powerful online platform, will provide an additional
medium for existing FX clients and will serve as a great tool for those
just entering the global markets.
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $115 billion in assets,
operates 18 affiliates with 1,295 full-service Banking Centers, including
93 Bank Mart locations open seven days a week inside select grocery stores
and 2,323 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida,
Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North
Carolina. Fifth Third operates five main businesses: Commercial Banking,
Branch Banking, Consumer Lending, Investment Advisors and Fifth Third
Processing Solutions. Fifth Third is among the largest money managers in
the Midwest and, as of June 30, 2008, has $207 billion in assets under
care, of which it managed $31 billion for individuals, corporations and
not-for-profit organizations. Investor information and press releases can
be viewed at http://www.53.com. Fifth Third's common stock is traded on the
NASDAQ(R) National Global Select Market under the symbol "FITB."
SOURCE Fifth Third Bancorp
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Related links:
http://www.53.com
CONTACT:
Whitney Ellis of Fifth Third Bancorp,
+1-513-534-6791
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