Fifth Third acquiring solar energy lender Dividend Finance

Fifth Third Bancorp is buying the renewable energy lender Dividend Finance in a deal it that would give the Cincinnati bank a foothold in the growing solar market while bolstering its digital capabilities.The $211 billion-asset company said Wednesday that the acquisition would help its customers finance solar upgrades and other projects through Dividend Finance’s point-of-sale loan platform. Dividend Finance contractors typically offer financing to customers investing in solar power and other home improvement projects.“The addition of Dividend Finance to our renewable energy portfolio enhances the scale of Fifth Third’s growing digital service capabilities and supports the Bank’s commitment to environmental leadership in financial services,” Fifth Third Chairman and CEO Greg Carmichael said in a press release.The deal would continue a trend of banks buying point-of-sale…

Read more…