PNC Bank 2002 Annual Report Download - page 8

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Q: How are PNC’s banking
businesses positioned?
Q:Will you change how PNC
reports its results?
A: We have made great strides
in our banking businesses.
Since 1998, Regional
Community Banking has
demonstrated consistent
growth with a significant
increase in its checking cus-
tomer base. Ongoing invest-
ments in that business have
given us the tools to sell more
PNC services — such as
home equity, brokerage, and
annuity products — to
more households.
Our Wholesale Banking
businesses enjoy an improved
credit risk profile and a strong
middle market presence in the
regions we serve. They also
contain key national businesses,
6
Q: What have you
learned about PNC
in your time here?
such as treasury management,
that are well-known and
positioned to attract larger
national customers.
PNC Advisors is address-
ing the significant transforma-
tion now taking place in the
wealth management business
with efforts to create a dis-
tinctive client experience,
strengthen its product set,
and improve retention.
In all of our banking
businesses, we continue to
look for opportunities to
improve efficiency as well.
— Guyaux
A: Yes. In fact, we’ve already
begun that process.
It was clear through some
of the feedback that we need-
ed to provide more clarity and
context in our results.
For example, we’re work-
ing to provide a clearer picture
of our business performance.
We’ve already increased the
level of detail included in our
quarterly results, and we plan
to continue making similar
enhancements.
To achieve more synergies
and efficiencies, in 2003 we’re
beginning to manage our cor-
porate banking, real estate
finance, and asset-based lending
activities as one business.
Moving forward, we’ll report
their results as one business —
Wholesale Banking.
— Demchak
A: I knew coming in that
this is a strong company with
great prospects.
I’m incredibly impressed
by our employees. Their
intense devotion to meeting
client needs and their empha-
sis on teamwork make a par-
ticularly powerful statement
about the PNC culture.
It’s also a company that
has built a very strong finan-
cial foundation. The diverse
revenue mix, the excellent
capital and liquidity posi-
tions…these characteristics
help differentiate PNC from
our peers and provide us with
a better opportunity to create
value over the long term.
I’m very excited to be here
and will do my best to help
further this progress.
— Demchak