Fifth Third in Cincinnati has closed a branch in downtown Columbus as it continues to streamline.
The $138 billion-asset company is closing its office at 155 Nationwide Blvd. in the Arena District of Columbus, according to the Columbus Business First.
To trim operating costs, the bank has
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Some are looking at buying banks or counting on recently announced acquisitions to diversify revenue streams. Others are investing in fee-based businesses and new technologies and all, of course, are trying to keep a lid on expenses.
April 21 -
Fifth Third is using savings generated from closing more than 100 branches over the past year to expand its digital capabilities through a major IT hiring initiative.
March 23 -
Since replacing Kevin Kabat in November, Greg Carmichael has said that the Cincinnati company needs to invest more heavily in technology and compliance now in order to boost profits and improve efficiency down the road. But investors worry that expenses will grow faster than revenues and further squeeze margins.
April 18
Fifth Third said in April that it planned to