BUSINESS SEGMENT FINANCIAL INFORMATION
Published on September 30, 2005
Exhibit 99.1
The PNC Financial Services Group, Inc.
Previously reported business segment financial information changed to reflect the new reporting structure for Consumer Banking and Institutional Banking
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Page |
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| Results of Businesses - Summary and Reconcilation to Total Consolidated Results |
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| Three months ended June 30, 2005, March 31, 2005, December 31, 2004, September 30, 2004 and June 30, 2004 |
1 | |
| Nine months ended September 30, 2004, six months ended June 30, 2005 and 2004, and full year 2004 and 2003 |
2 | |
| Consumer Banking |
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| Three months ended June 30, 2005, March 31, 2005, December 31, 2004, September 30, 2004 and June 30, 2004 |
3 | |
| Nine months ended September 30, 2004, six months ended June 30, 2005 and 2004, and full year 2004 and 2003 |
4 | |
| Institutional Banking |
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| Three months ended June 30, 2005, March 31, 2005, December 31, 2004, September 30, 2004 and June 30, 2004 |
5 | |
| Nine months ended September 30, 2004, six months ended June 30, 2005 and 2004, and full year 2004 and 2003 |
6 | |
THE PNC FINANCIAL SERVICES GROUP, INC.
Results of Businesses - Summary and Reconciliation to Total Consolidated Results (Unaudited)
Three months ended dollars in millions
|
June 30 2005 |
March 31 2005 |
December 31 2004 |
September 30 2004 |
June 30 2004 |
||||||||||||||||
| Earnings |
||||||||||||||||||||
| Consumer Banking |
$ | 162 | $ | 149 | $ | 167 | $ | 158 | $ | 152 | ||||||||||
| Institutional Banking |
144 | 110 | 108 | 100 | 113 | |||||||||||||||
| BlackRock |
53 | 47 | 50 | (10 | ) | 48 | ||||||||||||||
| PFPC |
24 | 23 | 20 | 17 | 17 | |||||||||||||||
| Total business segment earnings |
383 | 329 | 345 | 265 | 330 | |||||||||||||||
| Minority interest in (income) loss of BlackRock |
(16 | ) | (14 | ) | (15 | ) | 3 | (14 | ) | |||||||||||
| Other |
(85 | ) | 39 | (23 | ) | (10 | ) | (12 | ) | |||||||||||
| Total consolidated earnings |
$ | 282 | $ | 354 | $ | 307 | $ | 258 | $ | 304 | ||||||||||
|
June 30 2005 |
March 31 2005 |
December 31 2004 |
September 30 2004 |
June 30 2004 |
||||||||||||||||
| Revenue (a) |
||||||||||||||||||||
| Consumer Banking |
$ | 708 | $ | 660 | $ | 688 | $ | 674 | $ | 663 | ||||||||||
| Institutional Banking |
323 | 312 | 333 | 299 | 322 | |||||||||||||||
| BlackRock |
271 | 250 | 188 | 171 | 184 | |||||||||||||||
| PFPC |
221 | 230 | 209 | 203 | 199 | |||||||||||||||
| Total business segment revenue |
1,523 | 1,452 | 1,418 | 1,347 | 1,368 | |||||||||||||||
| Other |
(57 | ) | 33 | (5 | ) | (11 | ) | 27 | ||||||||||||
| Total consolidated revenue |
$ | 1,466 | $ | 1,485 | $ | 1,413 | $ | 1,336 | $ | 1,395 | ||||||||||
| (a) | Business segment revenue is presented on a taxable-equivalent basis except for BlackRock and PFPC. BlackRock began reporting revenue on a taxable-equivalent basis in the third quarter of 2004. PFPC revenue for all periods and second quarter 2004 BlackRock revenue is presented on a book (GAAP) basis. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than a taxable investment. To provide more meaningful comparisons of yields and margins for all earning assets, we have increased the interest income earned on tax-exempt assets to make them fully equivalent to other taxable interest income investments. The following is a reconciliation of total consolidated revenue on a book (GAAP) basis to total consolidated revenue on a taxable-equivalent basis (in millions): |
|
June 30 2005 |
March 31 2005 |
December 31 2004 |
September 30 2004 |
June 30 2004 |
|||||||||||
| Total consolidated revenue, book (GAAP) basis |
$ | 1,459 | $ | 1,479 | $ | 1,407 | $ | 1,329 | $ | 1,391 | |||||
| Taxable-equivalent adjustment |
7 | 6 | 6 | 7 | 4 | ||||||||||
| Total consolidated revenue, taxable-equivalent basis |
$ | 1,466 | $ | 1,485 | $ | 1,413 | $ | 1,336 | $ | 1,395 | |||||
Page 1
THE PNC FINANCIAL SERVICES GROUP, INC.
Results of Businesses - Summary and Reconciliation to Total Consolidated Results (Unaudited)
| Dollars in millions |
Nine months ended Sept 30, 2004 |
Six months ended June 30, 2005 |
Six months ended June 30, 2004 |
Full Year 2004 |
Full Year 2003 |
|||||||||||||||
| Earnings |
||||||||||||||||||||
| Consumer Banking |
$ | 443 | $ | 311 | $ | 285 | $ | 610 | $ | 566 | ||||||||||
| Institutional Banking |
335 | 254 | 235 | 443 | 391 | |||||||||||||||
| BlackRock |
93 | 100 | 103 | 143 | 155 | |||||||||||||||
| PFPC |
50 | 47 | 33 | 70 | 64 | |||||||||||||||
| Total business segment earnings |
921 | 712 | 656 | 1,266 | 1,176 | |||||||||||||||
| Minority interest in (income) loss of BlackRock |
(27 | ) | (30 | ) | (30 | ) | (42 | ) | (47 | ) | ||||||||||
| Other |
(4 | ) | (46 | ) | 6 | (27 | ) | (100 | ) | |||||||||||
| Cumulative effect of accounting change |
(28 | ) | ||||||||||||||||||
| Total consolidated earnings |
$ | 890 | $ | 636 | $ | 632 | $ | 1,197 | $ | 1,001 | ||||||||||
|
Nine months ended Sept 30, 2004 |
Six months ended June 30, 2005 |
Six months ended June 30, 2004 |
Full Year 2004 |
Full Year 2003 |
||||||||||||||||
| Revenue (a) |
||||||||||||||||||||
| Consumer Banking |
$ | 2,006 | $ | 1,368 | $ | 1,332 | $ | 2,694 | $ | 2,507 | ||||||||||
| Institutional Banking |
938 | 635 | 639 | 1,271 | 1,282 | |||||||||||||||
| BlackRock |
537 | 521 | 366 | 725 | 598 | |||||||||||||||
| PFPC |
605 | 451 | 402 | 814 | 762 | |||||||||||||||
| Total business segment revenue |
4,086 | 2,975 | 2,739 | 5,504 | 5,149 | |||||||||||||||
| Other |
53 | (24 | ) | 64 | 48 | 114 | ||||||||||||||
| Total consolidated revenue |
$ | 4,139 | $ | 2,951 | $ | 2,803 | $ | 5,552 | $ | 5,263 | ||||||||||
| (a) | Business segment revenue is presented on a taxable-equivalent basis except for BlackRock and PFPC. BlackRock began reporting revenue on a taxable-equivalent basis in the third quarter of 2004. PFPC revenue for all periods and six months ended 2004 and full year 2003 BlackRock revenue is presented on a book (GAAP) basis. The interest income earned on certain earning assets is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than a taxable investment. To provide more meaningful comparisons of yields and margins for all earning assets, we have increased the interest income earned on tax-exempt assets to make them fully equivalent to other taxable interest income investments. The following is a reconciliation of total consolidated revenue on a book (GAAP) basis to total consolidated revenue on a taxable-equivalent basis (in millions): |
|
Nine months ended Sept 30, 2004 |
Six months ended June 30, 2005 |
Six months ended June 30, 2004 |
Full Year 2004 |
Full Year 2003 |
|||||||||||
| Total consolidated revenue, book (GAAP) basis |
$ | 4,125 | $ | 2,938 | $ | 2,796 | $ | 5,532 | $ | 5,253 | |||||
| Taxable-equivalent adjustment |
14 | 13 | 7 | 20 | 10 | ||||||||||
| Total consolidated revenue, taxable-equivalent basis |
$ | 4,139 | $ | 2,951 | $ | 2,803 | $ | 5,552 | $ | 5,263 | |||||
Page 2
THE PNC FINANCIAL SERVICES GROUP, INC.
Consumer Banking (Unaudited)
| Three months ended Taxable-equivalent basis * Dollars in millions |
June 30 2005 |
March 31 2005 |
December 31 2004 |
September 30 2004 |
June 30 2004 |
|||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||
| Net interest income |
$ | 395 | $ | 369 | $ | 373 | $ | 371 | $ | 367 | ||||||||||
| Noninterest income |
||||||||||||||||||||
| Asset management |
83 | 81 | 79 | 77 | 79 | |||||||||||||||
| Service charges on deposits |
65 | 57 | 62 | 63 | 61 | |||||||||||||||
| Brokerage fees |
56 | 53 | 52 | 51 | 55 | |||||||||||||||
| Other |
109 | 100 | 122 | 112 | 101 | |||||||||||||||
| Total noninterest income |
313 | 291 | 315 | 303 | 296 | |||||||||||||||
| Total revenue |
708 | 660 | 688 | 674 | 663 | |||||||||||||||
| Provision for credit losses |
15 | 14 | 13 | 14 | 4 | |||||||||||||||
| Noninterest expense |
||||||||||||||||||||
| Compensation and employee benefits |
211 | 201 | 209 | 200 | 199 | |||||||||||||||
| Net occupancy and equipment |
79 | 76 | 74 | 75 | 77 | |||||||||||||||
| Other |
144 | 132 | 129 | 135 | 143 | |||||||||||||||
| Total noninterest expense |
434 | 409 | 412 | 410 | 419 | |||||||||||||||
| Pretax earnings |
259 | 237 | 263 | 250 | 240 | |||||||||||||||
| Income taxes |
97 | 88 | 96 | 92 | 88 | |||||||||||||||
| Earnings |
$ | 162 | $ | 149 | $ | 167 | $ | 158 | $ | 152 | ||||||||||
| AVERAGE BALANCE SHEET |
||||||||||||||||||||
| Loans |
||||||||||||||||||||
| Consumer |
||||||||||||||||||||
| Home equity |
$ | 13,267 | $ | 12,803 | $ | 12,562 | $ | 12,163 | $ | 11,545 | ||||||||||
| Indirect |
917 | 892 | 881 | 879 | 836 | |||||||||||||||
| Other consumer |
1,171 | 1,141 | 1,194 | 1,202 | 1,197 | |||||||||||||||
| Total consumer |
15,355 | 14,836 | 14,637 | 14,244 | 13,578 | |||||||||||||||
| Commercial |
5,033 | 4,821 | 4,631 | 4,552 | 4,388 | |||||||||||||||
| Floor plan |
1,050 | 1,013 | 961 | 929 | 1,037 | |||||||||||||||
| Residential mortgage |
1,326 | 776 | 817 | 856 | 914 | |||||||||||||||
| Other |
269 | 280 | 284 | 289 | 298 | |||||||||||||||
| Total loans |
23,033 | 21,726 | 21,330 | 20,870 | 20,215 | |||||||||||||||
| Goodwill |
1,248 | 1,144 | 1,153 | 1,158 | 1,159 | |||||||||||||||
| Loans held for sale |
1,455 | 1,345 | 1,221 | 1,238 | 1,156 | |||||||||||||||
| Other assets |
1,710 | 1,634 | 1,710 | 1,688 | 1,838 | |||||||||||||||
| Total assets |
$ | 27,446 | $ | 25,849 | $ | 25,414 | $ | 24,954 | $ | 24,368 | ||||||||||
| Deposits |
||||||||||||||||||||
| Noninterest-bearing demand |
$ | 7,529 | $ | 7,200 | $ | 7,373 | $ | 7,161 | $ | 6,904 | ||||||||||
| Interest-bearing demand |
7,929 | 7,710 | 7,758 | 7,599 | 7,601 | |||||||||||||||
| Money market |
13,175 | 12,902 | 12,795 | 13,010 | 13,486 | |||||||||||||||
| Total transaction deposits |
28,633 | 27,812 | 27,926 | 27,770 | 27,991 | |||||||||||||||
| Savings |
2,712 | 2,766 | 2,762 | 2,686 | 2,573 | |||||||||||||||
| Certificates of deposit |
11,107 | 10,171 | 9,634 | 8,991 | 8,548 | |||||||||||||||
| Total deposits |
42,452 | 40,749 | 40,322 | 39,447 | 39,112 | |||||||||||||||
| Other liabilities |
396 | 408 | 463 | 461 | 495 | |||||||||||||||
| Capital |
2,774 | 2,748 | 2,717 | 2,680 | 2,665 | |||||||||||||||
| Total funds |
$ | 45,622 | $ | 43,905 | $ | 43,502 | $ | 42,588 | $ | 42,272 | ||||||||||
| PERFORMANCE RATIOS |
||||||||||||||||||||
| Return on capital |
23 | % | 22 | % | 24 | % | 23 | % | 23 | % | ||||||||||
| Noninterest income to total revenue |
44 | 44 | 46 | 45 | 45 | |||||||||||||||
| Efficiency |
61 | 62 | 60 | 61 | 63 | |||||||||||||||
| * | See note (a) on Page 1. |
Page 3
THE PNC FINANCIAL SERVICES GROUP, INC.
Consumer Banking (Unaudited)
| Taxable-equivalent basis * Dollars in millions |
Nine months ended Sept 30, 2004 |
Six months ended June 30, 2005 |
Six months ended June 30, 2004 |
Full Year 2004 |
Full Year 2003 |
|||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||
| Net interest income |
$ | 1,098 | $ | 764 | $ | 727 | $ | 1,471 | $ | 1,330 | ||||||||||
| Noninterest income |
||||||||||||||||||||
| Asset management |
238 | 164 | 161 | 317 | 313 | |||||||||||||||
| Service charges on deposits |
181 | 122 | 118 | 243 | 229 | |||||||||||||||
| Brokerage fees |
164 | 109 | 113 | 215 | 198 | |||||||||||||||
| Other |
325 | 209 | 213 | 448 | 437 | |||||||||||||||
| Total noninterest income |
908 | 604 | 605 | 1,223 | 1,177 | |||||||||||||||
| Total revenue |
2,006 | 1,368 | 1,332 | 2,694 | 2,507 | |||||||||||||||
| Provision for credit losses |
48 | 29 | 34 | 61 | 43 | |||||||||||||||
| Noninterest expense |
||||||||||||||||||||
| Compensation and employee benefits |
608 | 412 | 408 | 819 | 775 | |||||||||||||||
| Net occupancy and equipment |
231 | 155 | 156 | 306 | 288 | |||||||||||||||
| Other |
420 | 276 | 285 | 546 | 511 | |||||||||||||||
| Total noninterest expense |
1,259 | 843 | 849 | 1,671 | 1,574 | |||||||||||||||
| Pretax earnings |
699 | 496 | 449 | 962 | 890 | |||||||||||||||
| Income taxes |
256 | 185 | 164 | 352 | 324 | |||||||||||||||
| Earnings |
$ | 443 | $ | 311 | $ | 285 | $ | 610 | $ | 566 | ||||||||||
| AVERAGE BALANCE SHEET |
||||||||||||||||||||
| Loans |
||||||||||||||||||||
| Consumer |
||||||||||||||||||||
| Home equity |
$ | 11,311 | $ | 13,037 | $ | 10,880 | $ | 11,625 | $ | 8,934 | ||||||||||
| Indirect |
830 | 904 | 805 | 843 | 477 | |||||||||||||||
| Other consumer |
1,243 | 1,156 | 1,263 | 1,231 | 1,178 | |||||||||||||||
| Total consumer |
13,384 | 15,097 | 12,948 | 13,699 | 10,589 | |||||||||||||||
| Commercial |
4,413 | 4,927 | 4,367 | 4,468 | 3,687 | |||||||||||||||
| Floor plan |
974 | 1,031 | 996 | 970 | 844 | |||||||||||||||
| Residential mortgage |
913 | 1,053 | 941 | 888 | 710 | |||||||||||||||
| Other |
292 | 275 | 272 | 291 | 279 | |||||||||||||||
| Total loans |
19,976 | 22,383 | 19,524 | 20,316 | 16,109 | |||||||||||||||
| Goodwill |
1,155 | 1,197 | 1,154 | 1,155 | 582 | |||||||||||||||
| Loans held for sale |
1,170 | 1,400 | 1,135 | 1,183 | 1,164 | |||||||||||||||
| Other assets |
1,887 | 1,672 | 2,078 | 1,842 | 1,608 | |||||||||||||||
| Total assets |
$ | 24,188 | $ | 26,652 | $ | 23,891 | $ | 24,496 | $ | 19,463 | ||||||||||
| Deposits |
||||||||||||||||||||
| Noninterest-bearing demand |
$ | 6,928 | $ | 7,366 | $ | 6,799 | $ | 7,040 | $ | 6,076 | ||||||||||
| Interest-bearing demand |
7,595 | 7,820 | 7,594 | 7,636 | 6,917 | |||||||||||||||
| Money market |
13,260 | 13,039 | 13,386 | 13,143 | 13,181 | |||||||||||||||
| Total transaction deposits |
27,783 | 28,225 | 27,779 | 27,819 | 26,174 | |||||||||||||||
| Savings |
2,598 | 2,738 | 2,552 | 2,640 | 2,044 | |||||||||||||||
| Certificates of deposit |
8,742 | 10,642 | 8,616 | 8,966 | 8,704 | |||||||||||||||
| Total deposits |
39,123 | 41,605 | 38,947 | 39,425 | 36,922 | |||||||||||||||
| Other liabilities |
542 | 402 | 582 | 521 | 427 | |||||||||||||||
| Capital |
2,677 | 2,761 | 2,676 | 2,687 | 2,544 | |||||||||||||||
| Total funds |
$ | 42,342 | $ | 44,768 | $ | 42,205 | $ | 42,633 | $ | 39,893 | ||||||||||
| PERFORMANCE RATIOS |
||||||||||||||||||||
| Return on capital |
22 | % | 23 | % | 21 | % | 23 | % | 22 | % | ||||||||||
| Noninterest income to total revenue |
45 | 44 | 45 | 45 | 47 | |||||||||||||||
| Efficiency |
63 | 62 | 64 | 62 | 63 | |||||||||||||||
| * | See note (a) on Page 2. |
Page 4
THE PNC FINANCIAL SERVICES GROUP, INC.
Institutional Banking (Unaudited)
| Three months ended Taxable-equivalent basis * Dollars in millions |
June 30 2005 |
March 31 2005 |
December 31 2004 |
September 30 2004 |
June 30 2004 |
|||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||
| Net interest income |
$ | 182 | $ | 176 | $ | 183 | $ | 180 | $ | 171 | ||||||||||
| Noninterest income |
||||||||||||||||||||
| Net commercial mortgage banking |
||||||||||||||||||||
| Net gains on loan sales |
18 | 9 | 20 | 6 | 14 | |||||||||||||||
| Servicing and other fees, net of amortization |
15 | 14 | 12 | 12 | 12 | |||||||||||||||
| Net gains on institutional loans held for sale |
2 | 2 | 2 | 5 | 17 | |||||||||||||||
| Other |
106 | 111 | 116 | 96 | 108 | |||||||||||||||
| Noninterest income |
141 | 136 | 150 | 119 | 151 | |||||||||||||||
| Total revenue |
323 | 312 | 333 | 299 | 322 | |||||||||||||||
| Provision for credit losses |
(48 | ) | (4 | ) | 9 | 1 | 8 | |||||||||||||
| Noninterest expense |
168 | 167 | 181 | 166 | 162 | |||||||||||||||
| Pretax earnings |
203 | 149 | 143 | 132 | 152 | |||||||||||||||
| Noncontrolling interests in income of consolidated entities |
(11 | ) | (11 | ) | (11 | ) | (12 | ) | (10 | ) | ||||||||||
| Income taxes |
70 | 50 | 46 | 44 | 49 | |||||||||||||||
| Earnings |
$ | 144 | $ | 110 | $ | 108 | $ | 100 | $ | 113 | ||||||||||
| AVERAGE BALANCE SHEET |
||||||||||||||||||||
| Loans |
||||||||||||||||||||
| Corporate banking |
$ | 10,940 | $ | 10,417 | $ | 10,139 | $ | 9,776 | $ | 9,669 | ||||||||||
| Commercial real estate |
2,139 | 1,807 | 1,824 | 1,902 | 1,934 | |||||||||||||||
| Commercial - real estate related |
2,090 | 1,782 | 1,743 | 1,704 | 1,465 | |||||||||||||||
| PNC Business Credit |
4,303 | 4,050 | 3,976 | 3,838 | 3,788 | |||||||||||||||
| Total loans |
19,472 | 18,056 | 17,682 | 17,220 | 16,856 | |||||||||||||||
| Loans held for sale |
694 | 598 | 555 | 349 | 493 | |||||||||||||||
| Other assets |
6,014 | 5,430 | 4,514 | 4,010 | 4,640 | |||||||||||||||
| Total assets |
$ | 26,180 | $ | 24,084 | $ | 22,751 | $ | 21,579 | $ | 21,989 | ||||||||||
| Deposits |
$ | 9,165 | $ | 8,683 | $ | 8,536 | $ | 7,882 | $ | 6,981 | ||||||||||
| Commercial paper |
2,168 | 2,127 | 1,954 | 1,679 | 1,815 | |||||||||||||||
| Other liabilities |
4,005 | 3,777 | 3,395 | 2,944 | 3,583 | |||||||||||||||
| Capital |
1,671 | 1,692 | 1,590 | 1,586 | 1,659 | |||||||||||||||
| Total funds |
$ | 17,009 | $ | 16,279 | $ | 15,475 | $ | 14,091 | $ | 14,038 | ||||||||||
| PERFORMANCE RATIOS |
||||||||||||||||||||
| Return on capital |
35 | % | 26 | % | 27 | % | 25 | % | 27 | % | ||||||||||
| Noninterest income to total revenue |
44 | 44 | 45 | 40 | 47 | |||||||||||||||
| Efficiency |
52 | 54 | 54 | 56 | 50 | |||||||||||||||
| * | See note (a) on Page 1. |
Page 5
THE PNC FINANCIAL SERVICES GROUP, INC.
Institutional Banking (Unaudited)
| Taxable-equivalent basis * Dollars in millions |
Nine months ended Sept 30, 2004 |
Six months ended June 30, 2005 |
Six months ended June 30, 2004 |
Full Year 2004 |
Full Year 2003 |
|||||||||||||||
| INCOME STATEMENT |
||||||||||||||||||||
| Net interest income |
$ | 515 | $ | 358 | $ | 335 | $ | 698 | $ | 680 | ||||||||||
| Noninterest income |
||||||||||||||||||||
| Net commercial mortgage banking |
||||||||||||||||||||
| Net gains on loan sales |
30 | 27 | 24 | 50 | 52 | |||||||||||||||
| Servicing and other fees, net of amortization |
35 | 29 | 23 | 47 | 39 | |||||||||||||||
| Net gains on institutional loans held for sale |
50 | 4 | 45 | 52 | 69 | |||||||||||||||
| Other |
308 | 217 | 212 | 424 | 442 | |||||||||||||||
| Noninterest income |
423 | 277 | 304 | 573 | 602 | |||||||||||||||
| Total revenue |
938 | 635 | 639 | 1,271 | 1,282 | |||||||||||||||
| Provision for credit losses |
(4 | ) | (52 | ) | (5 | ) | 5 | 121 | ||||||||||||
| Noninterest expense |
490 | 335 | 324 | 671 | 634 | |||||||||||||||
| Pretax earnings |
452 | 352 | 320 | 595 | 527 | |||||||||||||||
| Noncontrolling interests in income of consolidated entities |
(32 | ) | (22 | ) | (20 | ) | (43 | ) | (21 | ) | ||||||||||
| Income taxes |
149 | 120 | 105 | 195 | 157 | |||||||||||||||
| Earnings |
$ | 335 | $ | 254 | $ | 235 | $ | 443 | $ | 391 | ||||||||||
| AVERAGE BALANCE SHEET |
||||||||||||||||||||
| Loans |
||||||||||||||||||||
| Corporate banking |
$ | 9,773 | $ | 10,680 | $ | 9,771 | $ | 9,865 | $ | 9,410 | ||||||||||
| Commercial real estate |
1,838 | 1,974 | 1,806 | 1,834 | 1,872 | |||||||||||||||
| Commercial - real estate related |
1,594 | 1,937 | 1,537 | 1,631 | 1,404 | |||||||||||||||
| PNC Business Credit |
3,745 | 4,177 | 3,698 | 3,803 | 3,551 | |||||||||||||||
| Total loans |
16,950 | 18,768 | 16,812 | 17,133 | 16,237 | |||||||||||||||
| Loans held for sale |
442 | 646 | 489 | 470 | 572 | |||||||||||||||
| Other assets |
4,452 | 5,724 | 4,678 | 4,470 | 4,214 | |||||||||||||||
| Total assets |
$ | 21,844 | $ | 25,138 | $ | 21,979 | $ | 22,073 | $ | 21,023 | ||||||||||
| Deposits |
$ | 7,188 | $ | 8,925 | $ | 6,837 | $ | 7,527 | $ | 6,354 | ||||||||||
| Commercial paper |
1,868 | 2,148 | 1,963 | 1,889 | 1,232 | |||||||||||||||
| Other liabilities |
3,444 | 3,892 | 3,698 | 3,433 | 3,250 | |||||||||||||||
| Capital |
1,700 | 1,681 | 1,757 | 1,672 | 1,994 | |||||||||||||||
| Total funds |
$ | 14,200 | $ | 16,646 | $ | 14,255 | $ | 14,521 | $ | 12,830 | ||||||||||
| PERFORMANCE RATIOS |
||||||||||||||||||||
| Return on capital |
26 | % | 30 | % | 27 | % | 26 | % | 20 | % | ||||||||||
| Noninterest income to total revenue |
45 | 44 | 48 | 45 | 47 | |||||||||||||||
| Efficiency |
52 | 53 | 51 | 53 | 49 | |||||||||||||||
| * | See note (a) on Page 2. |
Page 6