PNC Bank 2003 Annual Report Download - page 18

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premier technology helps alert us
to at-risk customer issues early on,
which is one reason we improved
our customer retention rate to
94 percent, the best we know of
among our peers.
In addition, our value-added
products and services continue to
attract new customers and deepen
existing relationships. For example,
we achieved record consumer loan
production, led by a 17 percent
increase in home equity loans. And
43 percent of our customers bank
with us online, one of the highest
penetration rates in the country.
Our acquisition of United
National in January 2004 adds more
than 100,000 households and provides
us with an opportunity to further
expand our Regional Community
Banking franchise in 2004.
Wholesale Banking
The financial services needs of gov-
ernment entities, middle market and
large corporations are as diverse as their
businesses. Through Wholesale Banking,
PNC has established a leadership position
in providing value-added solutions for
companies in the regions we serve.
Our experienced team of relation-
ship managers draws these solutions
from a broad array of highly competi-
tive products and services, including
credit, treasury management, capital
markets and leasing. In addition, we
are an established leader across the
nation in delivering real estate finance
and asset-based lending products.
PNC’s philosophy is grounded in
making our clients’ interests our priori-
ty. We spend time getting to know
each of our clients — their businesses,
their strategies, their objectives — and
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“I view PFPC as the best in
the business of accounting
and administration for
investment portfolios. We
have confidence in their
people and technology to
support more than $42 billion
of the $51 billion of global
assets we manage.”
Michael Scardina
Vice President and
Chief Financial Officer
Dimensional Fund Advisors Inc.
PFPC Client
Santa Monica, CA