Boston, MA 05/23/2014 (wallstreetpr) – Diversified financial services provider, Fifth Third Bancorp (NASDAQ:FITB) announced that it has extended over $6 billion credit to business customers until March in the current calendar year. The company is also planning to attend investors’ conference to be held later this month. It has already attended an investor meeting in the current month.
Credit Extended
The company disclosed that it could extend over $6.9 billion credit to new as well as renew credit with its business customers until March from January this year. The financial services provider disbursed over $39 billion in 2013 to its business customers throughout its footprint.
Fifth Third Bancorp (NASDAQ:FITB) has lent credit to various categories of business. For instance, it has lent credit for working capital requirements to Agile Resources, Inc., which is an IT staffing and consulting company.
Similarly, the bank has given credit to Community Health Systems, Jedson Engineering, and School Outfitters. While the financial services provider offered loan to Community Health Systems to help acquire Health Management Associates early this year, Fifth Third Bancorp has provided Jedson Engineering loans to for its construction as well as buying of equipment. For School Outfitters, the company has lent for renovation of their headquarters besides working capital.
Conferences
On May 28, Fifth Third Bancorp will attend Global Financial Services Investor Conference of Deutsche Bank. The company will start making its presentations from about 2.00 p.m. Eastern Time. Its executive vice president and CFO Tayfun Tuzun will participate in the conference and the webcast will be available on audio.
Recently, on May 16, the financial services provider has attended a similar conference conducted by Barclays Capital Americas and the company has been represented by its executive vice president and CFO Tayfun Tuzun.
1Q Results
Fifth Third Bancorp (NASDAQ:FITB) reported net income of $309 million or 36 cents a share for the first quarter, down from $413 million or 46 cents a share in the year-ago quarter.
