In its recently-published 2022 Sustainability Report, Fifth Third Bank provided a progress update on its three-year, $2.8 billion enterprise-wide Accelerating Racial Equality, Equity and Inclusion Initiative. As of Dec. 31, 2022, the Bank had delivered $2.7 billion under the initiative and reported that it is ahead of schedule to meet its full commitment by year-end 2023.Â
Results reported included:
$2.1 billion in loan capital against goal of $2.2 billion.$497.7 million in community investments against goal of $500 million.$37.8 million in financial accessibility efforts against the $60 million goal.$27.1 million in philanthropic efforts against its $40 million goal.
The AREEI initiative comprises three workstreams: customers, communities and employees. More information about progress made under this initiative can be found in the 2022 Sustainability Report in the Corporate Responsibility section.