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Fifth Third Gains Fortune Honor
The survey results were based on the views of 10,000 executives, directors and securities analysts who rated the companies in their own industries using eight criteria.
The criteria included social responsibility, innovation, long-term investment value, use of corporate assets, employee talent, financial soundness, quality of products/services and quality of management.
“Our 20,600 employees are committed to delivering the best possible financial products and services, building stronger neighborhoods through community development investments and providing consistent quality growth to our shareholders,” said George Schaefer, president and CEO of Fifth Third Bancorp.
“One of the keys to consistent growth is Fifth Third’s steadfast commitment to a strong, flexible balance sheet. The financial strength of our balance sheet was recently recognized by Moody’s Investor Service with a senior debt rating of Aa2, a rating equaled or surpassed by only three other bank holding companies in the country. Being name the No. 1 Superregional bank for the second consecutive year by Fortune affirms these efforts.”
Other banks following behind Fifth Third in the Superregional Banks category were Mellon Financial, State Street, BB&T Corp., Bank of New York, Regions Financial, SouthTrust, Comerica, KeyCorp and PNC Financial.
Megabanks Banks were also listed and included Citigroup, Wells Fargo, Bank of America, Suntrust Banks, Bank One, National City, Wachovia, U.S. Bancorp, FleetBoston Financial and J.P. Morgan Chase.
Fortune’s complete list of the “Most Admired Companies in America” survey can be found in its March 3 edition.