PNC Bank 2000 Annual Report Download - page 8

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6
Community Banking grew revenue by 3% for the
year but, driven by new applications of technology
to increase marketing efficiency, delivered earnings
growth of 9% .
A TE C H N O L O G Y LE A D E R
Part of our confidence in the future of this
company stems from our position of leadership in
technology, which has represented a significant com-
petitive advantage at PNC for many years. We have
focused on making disciplined and focused invest-
ments in technologies that have the potential to create
value for customers and shareholders alike.
And our efforts across a wide range of
businesses have received significant
recognition.
• In December, PNC was ranked
11th overall, and 2nd among
financial services organiza-
tions, in the “ Innovation
100” research study by
InformationWeek and Cap
Gemini Ernst & Young, which
evaluated companies based on
their success in using technol-
ogy to benefit customers.
•Our customer call center
was ranked 5th-best in
our industry by Financial
Services Marketing.
•Our data center — the heart of
our technology capabilities —
was ranked as the most effi-
cient in our peer group by the
GartnerGroup.
This recognition is only a
reflection of the value we contin-
ued to deliver to customers
through a number of significant
technology initiatives. Our
launch of BillingZone, a joint
deliver consistent earnings growth over time, up to
and including the sale or downsizing of additional
businesses that we do not believe are positioned to
help us achieve our performance objectives.
EN G I N E S F O R GR O W T H
Obviously, we have downsized
PNC’s balance sheet as a result of our
strategies to strengthen our busi-
ness mix. This has meant sacrific-
ing near-term net interest
income to drive what we believe
to be very positive changes in
the long-term earnings and
growth dynamics of our compa-
ny. But even as we have
removed substantial amounts of
lending-related
revenue, we have been able
to grow earnings per share at a
compound annual rate of 10%
over the past five years.
This performance during
a period of substantial transition
reflects the powerful growth
dynamics inherent in many
of our businesses. Our asset
management and processing
businesses — PNC Advisors,
BlackRock and PFPC — grew
revenue, collectively, by 22% in
2000. Among our banking business-
es, Treasury Management, Capital Markets and
Business Credit delivered revenue growth of
11% , 21% and 45%, respectively, in 2000.
2 0 0 0 RE V E N U E CO N T R I B U T I O N
BYBU S I N E S S
Banking Asset
and Secured Finance Management
and Processing