PNC Bank 2013 Annual Report Download - page 4

Progress on our priorities
Our strategic priorities are aligned to expand market share, deepen relationships, increase fee
income and improve operating results, leading to sustainable growth and long-term value for
our shareholders. In 2013 we made important progress against each priority.
Driving growth in new and underpenetrated markets
In 2013, as the competitive landscape changed,
the fight to win new clients became more
intense and, at times, irrational. In response,
our focus shifted from adding new clients at
the pace we had in previous years to targeting
specific products and markets for growth and
cultivating the relationships we already enjoy
with our existing clients in order to gain greater
share of wallet.
By design, we did not add new clients
indiscriminately in 2013. Still, Corporate
and Institutional Banking and our Asset
Management Group (AMG) saw sales and
cross-sales continue to grow. In the Midwest,
markets we entered in just the last five years
saw performance levels climb nearer to what
we experience in our traditional markets across
the Northeast. And our results in the Southeast,
where we only fully established our presence a
year ago, continue to outpace our expectations
as we work aggressively to raise awareness
of our brand, capture market share and build
franchise value.
In this environment and at this point in the
economic cycle, the keys to creating sustainable
growth – especially in our recently acquired
and underpenetrated markets – are disciplined
adherence to our risk management strategy and
deepening the relationships we already enjoy
with clients who may have begun with a loan or
checking account but have come to trust us with
more of their business in the months and years
since those relationships were established.
PNC has grown dramatically over the last six years. We have more than doubled in size – growing
assets to $320 billion – and expanded to new markets in the Midwest and Southeast. But that has
not changed who we are, what we believe in or the model that has enabled us to truly be a part of
the communities in which we do business.
PNC is a Main Street bank, not a Wall Street bank. We work to ensure small
businesses can meet their payroll, veterinarians can finance new X-ray machines
and manufacturers can get goods to market. We help people buy cars to get
themselves to work and their kids to soccer practice. We help mothers and
fathers save to send their children to college, and then we help those young
adults learn to manage their finances. We are big enough that no matter where
you are or what you need to do, we will be there to help you do it. We help make
America – the real America – go.
That was true before the financial crisis, it was true through the crisis, and it will be true for
generations to come. Ours is a model that has served our shareholders, customers, communities
and employees well.
Total assets
at year end
Billions
2007 2013
$320
$139