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Ethisphere Announces Fifth Third Bank as one of the 2023 World’s Most Ethical Companies® for the Fourth Time
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Fifth Third Bank has been recognized as one of the 2023 World’s Most Ethical Companies by Ethisphere, marking its fourth recognition. Featured among 135 honorees across 46 industries, the bank is one of only four recognized banks globally. CEO Tim Spence highlighted the bank’s commitment to ethics, stating, "To be one of only four banks worldwide is truly remarkable." The bank has set a $100 billion environmental and social finance target by 2030, alongside a $2.8 billion initiative for racial equality and inclusion. Ethisphere's 2023 Ethics Index indicates that its honorees outperformed large-cap companies by 13.6 percentage points over five years.
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Recognized as one of the 2023 World's Most Ethical Companies by Ethisphere.
Only four banks globally to receive this honor, enhancing brand reputation.
Commitment to ethics and integrity reflected in strong financial practices.
Initiatives include a $100 billion environmental and social finance target by 2030.
$2.8 billion initiative for racial equality and inclusion, showcasing corporate responsibility.
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Recognition honors companies demonstrating business integrity through best-in-class ethics, compliance and governance practices
CINCINNATI--(BUSINESS WIRE)--
Fifth Third Bank, National Association, today was recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2023 World’s Most Ethical Companies. Fifth Third has been recognized four times by Ethisphere. In 2023, the list includes 135 honorees in 19 countries across 46 industries. Fifth Third is one of only four banks on the list.
Fifth Third Bank was ranked among Ethisphere's 2023 World's Most Ethical Companies for the fourth time. (Graphic: Business Wire)
Fifth Third is a purpose-driven company with a long commitment to ethics and integrity. The Bank has a strong record of implementing practices that positively impact all stakeholders while delivering solid financial results and through-the-cycle performance.
“To be one of only four banks worldwide is truly remarkable and illustrates our charge to do well by doing good while delivering sustainable value to all we serve,” said Tim Spence, president and CEO of Fifth Third. "Our commitment to doing what is right for our customers, communities, employees and shareholders is at the foundation of our ambition to be the one bank people most value and trust. We’re proud to be consistently recognized by Ethisphere as one of the World's Most Ethical Companies, and the honor belongs to our employees. It’s a testament to their hard work to build an ethical culture and unwavering commitment to live our core values.”
Fifth Third strives to do well by doing good, with efforts that include a $100 billion environmental and social finance target to be achieved through 2030, a boost in its minimum wage for the third time in recent years and a $2.8 billion Accelerating Racial Equality, Equity and Inclusion initiative. A highlight of the latter initiative is the $180 million Fifth Third Bank Empowering Black Futures Neighborhood Program, which provides nine targeted neighborhoods with the capital, expertise and collaboration to create equitable growth and economic mobility.
“Ethics matter. Organizations that commit to business integrity through robust programs and practices not only elevate standards and expectations for all, but also have better long-term performance,” said Ethisphere CEO Erica Salmon Byrne. “We continue to be inspired by the World’s Most Ethical Companies honorees and their dedication to making real impact for their stakeholders and displaying exemplary values-based leadership. Congratulations to Fifth Third Bank for earning a place in the World’s Most Ethical Companies community.”
Ethics & Performance
Ethisphere’s 2023 Ethics Index, the collection of publicly traded companies recognized as recipients of this year’s World’s Most Ethical Companies designation, outperformed a comparable index of large-cap companies by 13.6 percentage points over a five-year period.
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association, is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com.
About Ethisphere
Ethisphere is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA), and showcases trends and best practices in ethics with Ethisphere Magazine. Ethisphere also helps to advance business performance through data-driven assessments, guidance, and benchmarking against its unparalleled data: the Culture Quotient dataset focused on ethical culture and featuring the responses of 2+ million employees around the world; and the Ethics Quotient dataset, featuring 200+ data points highlighting the ethics, compliance, social, and governance practices of the World’s Most Ethical Companies. For more information, visit https://ethisphere.com.
