PNC Bank 2006 Annual Report Download - page 5

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EARNINGS
$ Billions
0.0
0.5
1.0
1.5
2.0
2.5
3.0
060504
REVENUE
$ Billions
0
2
4
6
8
10
060504
SHAREHOLDER RETURN
0%
10%
20%
30%
40%
50%
60%
3–Year1–Year
PNC 2006 ANNUAL REPORT 3
We have upgraded the signage and other features of many of our branches, which
are our main distribution channel and the face of PNC in our communities. New
stand-alone branches are being constructed in locations convenient to growing
populations with expanding incomes. Branch staff is receiving enhanced training
on new products, new services and better ways to meet client needs. In 2006, an
independent analyst visiting bank branches in the Washington, D.C. area found
PNC employees to be the most knowledgeable he encountered.
We have supported all of this brand-building activity with strong advertising and
marketing. We began with television commercials for our free-ATM offer last
September. In February of this year, we introduced “Leading the Way,” the most
comprehensive brand advertising campaign in PNC’s history.
It is still early, but our efforts are beginning to show success. Initial balances in new
checking accounts are higher by 20 percent. Our PNC-branded credit card, which
launched in September, quickly surpassed our initial expectations. More than 70,000
consumers now carry the card, and receivables total more than $140 million. The
initial results of the mass affluent initiative, too, are promising. Loans, deposits and
investments among customers in the initiative’s pilot have grown faster than those
of similarly situated, unassigned customers.
We leveraged our market leadership. The effort to deepen relationships extends to
our Corporate & Institutional Banking segment, where the focus is on middle market
customers with between $30 million and $1 billion in annual revenues.
We have national reach, with commercial real estate lending and servicing, asset-based
lending, treasury management, capital markets, and the mergers and acquisitions
advisory services of Harris Williams.
PNC
11-Company
Peer Group Average**
S&P Index
For the period ending
December 31, 2006