PNC Bank 2002 Annual Report Download - page 14

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12
Companies rely on
PNC Bank, a trusted
financial advisor, to
support their growth
and success. Wholesale
Banking is distin-
guished in many ways.
PNC’s approach to Wholesale
Banking is evolving from a
product focus to a client-driven
model — one that seeks to
deepen existing relationships
primarily with middle market
companies. Our Wholesale
Banking businesses, which
include Corporate Banking,
PNC Real Estate Finance, and
PNC Business Credit, work
together to sell PNC’s breadth
of financial services. The goal
is to attract clients that meet
our risk-return criteria and
become their primary financial
services provider.
PNC’s key advantage
is its attractive suite of value-
added, noncredit products. The
focus, and opportunity for
growth, resides in the thousands
of middle market companies in
PNC’s traditional five-state
footprint. We offer core prod-
ucts and services, such as capital
markets, commercial real estate
loan servicing (offered through
Midland Loan Services), treasury
management, and equipment
leasing, to clients when we con-
sider the relationship risk/returns
to be appropriate and competi-
tive advantages exist.
This approach is designed
to help Wholesale Banking con-
tinue improving its credit risk
profile. We made significant
progress on this front in 2002
by liquidating $2.3 billion, or
88%, of the institutional held-
for-sale loan portfolio.
With our initiative to
reduce lower-return assets
largely behind us, Wholesale
Banking is working to improve
sales momentum and deliver
stronger returns moving forward.
PNC BANK WHOLESALE BANKING
•PNC Business Credit, a top
five asset-based lender
nationally, added more than
90 clients in 2002
•The nation’s ninth largest
treasury management
business almost doubled
customer usage of its A/R
Advantage product
•PNC Capital Markets obtained
financing of more than $600
million for 14 universities and
colleges plus six hospitals and
long-term care facilities
•Through Midland Loan
Services, PNC Real Estate
Finance has built a total servic-
ing portfolio of $74 billion