PNC Bank 2000 Annual Report Download - page 10

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8
From a financial perspective
our performance was strong.
We delivered double-digit
core EPS growth and a 21%
return on equity, and we
maintained relatively stable
asset quality. And we contin-
ued to take steps to stre n g t h e n
our business mix. What’s
HO W DOYO U RA T E P N C ’ S2 0 0 0 PE R F O R M A N C E ?
When you look at our strate-
gic actions collectively, we
made very significant progress
in strengthening the business
mix of this organization. We
continued to invest in, and
grow, highly-valued business-
es like PFPC, BlackRock and
Treasury Management. We
continued to reshape our tra-
ditional banking businesses in
an effort to decrease volatility
WH A T WE R E P N C ’ SMO S T IM P O R TA N T
ST R AT E G I C AC C O M P L I S H M E N T S?
Walter E. Gregg, Jr.
Vice Chairman
Q& A
extremely important is that
our employees continued to
show their commitment to
making this organization
better, stronger and more
valuable, and because of their
efforts, I believe we’re very
well positioned for the future.
— Rohr
and risk and increase valua-
tion potential… And we took
actions to exit or downsize
businesses that were not
aligned with our valuation
objectives, including the sale
of our residential mortgage
banking business, which
competes in a volatile
industry that is not valued
highly by investors.
— Gregg
NO N I N T E R E S T
IN C O M E / T O TA L
RE V E N U E
(in millions)
96 97 98 99 00
40%
45%
51%
57%