Fifth Third Bancorp, a diversified financial services company based in Cincinnati, announced the opening of its first new commercial banking office in Canada.

The firm says its Toronto-based Canadian headquarters will deliver customized, full-service commercial banking solutions and cross-border banking to Canadian and U.S.-based companies. It offers commercial lending products such as working capital loans and lines of credit, treasury management services such as receivables, payables and account management, and international banking services, including foreign exchange and multi-currency accounts.

“Canada is the United States’ largest trading partner and many of Fifth Third’s commercial clients in the U.S. conduct business here,” said Jerry Hynes, vice president and principal officer for the Fifth Third Canadian branch. “To accommodate these clients and attract new Canadian-based customers, Fifth Third is pleased to offer full-service commercial banking solutions in the Canadian market.”

In Canada, the company will focus on providing its commercial banking expertise to Canadian companies that routinely do business in the U.S. midwest region, which is the cornerstone of Fifth Third operations.

“We can bring Canadian companies one-stop capabilities for their U.S. or Canadian banking needs,” said Hynes. “Our expertise in foreign exchange and cross-border transactions means that Canadian businesses will have the ability to pay employees in Canada and the U.S., deposit in Canada and the U.S., establish lending facilities in Canada or the U.S. and have one central banker at their service to do it all.”

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