PNC Bank 2001 Annual Report Download - page 10

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WHAT ARE YOUR KEY
PRIORITIES FOR 2002?
To put it simply
— execute
and grow.
We have
built a very
competitive and
powerful mix of businesses that
we believe is capable of achieving
higher-quality, capital-efficient
growth over time.
Now, we’re harnessing the
collective energies of our company
to deliver on the promise of these
businesses. We’re working to deepen
customer relationships and increase
our client base by strengthening our
sales culture. We also continue to
leverage our leading technology plat-
form to create additional products
and services to meet our customers’
growing needs.
Over the past three years,
our efforts have been focused on
reducing or eliminating higher-risk,
more capital-intensive activities.
As a result, we’re now concentrating
on the execution of our loan down-
sizing and asset quality.
Although we expect the business
environment to remain challenging,
I’m confident that we have a team of
24,000 employees deeply committed
to achieving these goals.
— Rohr
WHAT ARE YOU DOING
TO CREATE GREATER
VALUE IN PNC’S
BANKING BUSINESSES?
Over the past
three years,
we have
dramatically
reduced our
exposure to
certain large corporate credits, and
we have sold or downsized a number
of other lending businesses that
didn’t meet our goals for shareholder
return. As a result, as we execute
on our loan sales, we should have
a stronger group of banking
businesses that supports our goal
of delivering more consistent
earnings growth over time.
— Gregg
Our Regional Community Bank has
deepened its sales culture by building
a product set and distribution system
that’s helping to make things
simple for customers by anticipating
their needs and acting to identify
the right solution. This approach
helped drive an 11% growth in
average transaction deposits in
2001, and produced a higher-quality
revenue mix in this business.
8
Q&A
with Chairman Jim Rohr and Vice Chairman Walter Gregg
01
$38
00
$51
99
$50
0
15
30
45
60
98
$58
YEAR-END
LOANS
OUTSTANDING
(in billions)