Friday, December 29, 2000
What's the Buzz?
Magazine honors 5/3 performance
Every time Fifth Third Bancorp opens a branch inside a Kroger store, it's not uncommon to see chief executive officer George Schaefer Jr. near the produce section pushing the bank's latest mortgage or checking-account promotion.
That unique salesmanship combined with stringent expense control is among reasons that Mr. Schaefer and Cincinnati's largest bank landed on Forbes' Platinum 400 list, with a two-page spread in the magazine's latest edition.
Fifth Third, which pioneered the supermarket banking concept locally, was the most saluted of six Tristate companies named to the list. The rankings, among other things, listed U.S. companies with annual sales of more than $1 billion and leaders in their industries in such areas as profitability, growth and consistently strong performance.
Fifth Third, on pace to post its 27th year of banner profits, was cited for the bank's retail sales rising 120 percent to $1 billion since 1995. The bank's in-store branches added to that growth.
Other Queen City-based companies on the list: Cinergy, Cintas, Convergys, E.W. Scripps Co., and Procter & Gamble.
Have a tip about a Tristate company that should be included in our Buzz? Call 768-8147 or e-mail business@enquirer.com.
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Tristate Business Summary
What's the Buzz?