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United States

Profile: PNC Financial Services Group Inc (PNC.N)

PNC.N on New York Stock Exchange

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The PNC Financial Services Group, Inc. (PNC), incorporated on January 19, 1983, is a diversified financial services company in the United States. The Company has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its products and services nationally, as well as other products and services in its primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. It also provides various products and services internationally. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

The Company's corporate legal structure consists of a domestic subsidiary bank, including its subsidiaries, and approximately 70 active non-bank subsidiaries, in addition to various affordable housing investments. Its bank subsidiary is PNC Bank, National Association (PNC Bank), a national bank.

Retail Banking

Retail Banking provides deposit, lending, brokerage, investment management and cash management services to consumer and small business customers within the Company's primary geographic markets. The Company's customers are serviced through its branch network, automated Teller Machines (ATMs), call centers, online banking and mobile channels. The branch network is located primarily in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina.

Corporate & Institutional Banking

Corporate & Institutional Banking provides lending, treasury management and capital markets-related products and services to mid-sized and large corporations, government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. Treasury management services include cash and investment management, receivables management, disbursement services, funds transfer services, information reporting and global trade services. Capital markets-related products and services include foreign exchange, derivatives, securities, loan syndications, mergers and acquisitions advisory, equity capital markets advisory and related services. The Company also provides commercial loan servicing and real estate advisory and technology solutions for the commercial real estate finance industry.

Asset Management Group

Asset Management Group includes personal wealth management for high net worth and ultra-high net worth clients and institutional asset management. Wealth management products and services include investment and retirement planning, customized investment management, private banking, tailored credit solutions, and trust management and administration for individuals and their families. The Company's Hawthorn provides multi-generational family planning, including wealth strategy, investment management, private banking, tax and estate planning guidance, performance reporting and personal administration services to ultra-high net worth families. Institutional asset management provides investment management, custody administration and retirement administration services. Institutional clients include corporations, unions, municipalities, non-profits, foundations and endowments. The business also offers PNC proprietary mutual funds.

Residential Mortgage Banking

Residential Mortgage Banking directly originates first lien residential mortgage loans on a nationwide basis with a presence within the retail banking. Mortgage loans represent loans collateralized by one-to-four-family residential real estate. These loans are typically underwritten to government agency and/or third-party standards and either sold, servicing retained or held on PNC's balance sheet. Loan sales are primarily to secondary mortgage conduits of Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC), Federal Home Loan Banks and third-party investors or are securitized and issued under the Government National Mortgage Association (GNMA) program. The mortgage servicing operation performs various functions related to servicing mortgage loans, primarily those in first lien position, for various investors and for loans owned by PNC.

BlackRock

BlackRock, in which the Company holds an equity investment, is a publicly traded investment management firm providing investment and risk management services to institutional and retail clients across the world. BlackRock develops investment outcomes and asset allocation solutions for clients. Product offerings include single- and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BlackRock also offers an investment and risk management technology platform, risk analytics and advisory services, and solutions to institutional investors.

Non-Strategic Assets Portfolio

Non-Strategic Assets Portfolio includes a consumer portfolio of mainly residential mortgage and brokered home equity loans and lines of credit and a small commercial/commercial real estate loan and lease portfolio. The Company obtained a significant portion of these non-strategic assets through acquisitions of other companies.

Company Address

PNC Financial Services Group Inc

The Tower At Pnc Plaza, 300 Fift
PITTSBURGH   PA   15222-2401
P: +1412.7622000

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