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Fifth Third Grows Chicago Investments by $2B
Fifth Third Bancorp has made a $2-billion increase in its five-year, companywide Community Commitment, with the increase earmarked solely to greater Chicago. Among the specifics of that increase are $600 million more in community development lending and investment, and a $1.1-billion bump in small business loans.
Eric S. Smith, regional president for Fifth Third in Chicago, said, “This additional investment reflects leadership’s confidence that we will continue our track record of strong commercial and consumer bank business. It also is a clear expression of our determination to increase and deepen our investment in greater Chicago.”
Smith (at left) joined Mayor Rahm Emanuel (second from left) and other officials at a ceremony announcing the increased commitment. “Fifth Third is a great example of a tremendous partner who has supported small business growth, programming for our schools and revitalization efforts that are helping improve neighborhoods across the city,” said Emanuel.
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