Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 14, 2002

EXHIBIT 12.1

Published on August 14, 2002


EXHIBIT 12.1
THE PNC FINANCIAL SERVICES GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES




Year ended December 31
Six months ended ------------------------------------------------------------
Dollars in millions June 30, 2002 2001 2000 1999 1998 1997
- ------------------------------------------------------------------ --------- --------- -------- --------- --------

EARNINGS
Income from continuing operations before taxes $966 $564 $1,848 $1,788 $1,651 $1,595
Fixed charges excluding interest on deposits 226 763 1,033 980 1,159 1,080
---------------- ----------- --------- --------- --------- --------
Subtotal 1,192 1,327 2,881 2,768 2,810 2,675
Interest on deposits 348 1,229 1,653 1,369 1,471 1,457
---------------- ----------- --------- --------- --------- ---------
Total $1,540 $2,556 $4,534 $4,137 $4,281 $4,132
================ =========== ========= ========= ========= =========

FIXED CHARGES
Interest on borrowed funds $169 $646 $915 $870 $1,065 $1,010
Interest component of rentals 28 53 50 44 33 26
Amortization of notes and debentures 1 1 1 1 1
Distributions on Mandatorily Redeemable Capital
Securities of Subsidiary Trusts 29 63 67 65 60 43
---------------- ----------- --------- --------- --------- ---------
Subtotal 226 763 1,033 980 1,159 1,080
Interest on deposits 348 1,229 1,653 1,369 1,471 1,457
---------------- ----------- --------- --------- --------- ---------
Total $574 $1,992 $2,686 $2,349 $2,630 $2,537
================ =========== ========= ========= ========= =========

RATIO OF EARNINGS TO FIXED CHARGES
Excluding interest on deposits 5.27x 1.74x 2.79x 2.82x 2.42x 2.48x
Including interest on deposits 2.68 1.28 1.69 1.76 1.63 1.63
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