Some interesting facts about PNC bank

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Banking forms one of the vertebrae in the backbone of the economy. Without a strong banking system, no country would flourish. Despite going through tough storms, the US banking system is standing erect. PNC Bank, a subsidiary of PNC Financial Services, is one of the pillars of the bank system in US. It is the fifth largest bank in the country, in terms of terms of the number of branches.

Started in 1852 by the Pittsburgh Trust and Savings Company, the bank has gone from strength to strength through the years.

Some of the well established facts about this bank are:

The PNC Bank has 2700 branches across 19 states of the United States including the District of Columbia and 7400 ATM Machines.
It is the third largest bank in terms of the ATM services provided.

More than 6.6 million people have got their checking accounts with the bank. The total staff strength of the bank is 54,400 approximately.
In terms of deposits and assets, the bank is the 6th largest in United States. The value of deposits is $221 billion and $320 billion respectively.

The PNC Bank is a corporate with a heart. It is involved in programmes for community housings and providing health care to children below 5 years and suffering from various risks. It is also very conscious about the environment and has employed a number of low cost and environment friendly schemes.

The PNC Grow up Great programme was started in 2004, and is involved with providing bilingual and multi-year school readiness programme. The plan helps families and children who are at the risk of being denied education and development. Over the years, the plan has aided more than 1.75 million children across the world. The total cost of the plan is $350 million.
The financial company has incorporated many efficient, low cost and environment friendly practices. Most of its branches are U.S. Green Building Council Standards approved. It has built the largest number of LEED certified buildings across the globe.

The PNC Bank is much involved in providing affordable housing to communities. Close to 90 resource centres for housing loans are spread out across the country. It devices various kinds of financial instruments that the communities can sign up for to build their houses. The bank was awarded with the ‘œOutstanding’ rating in 2009 for superseding the standards of the Community Reinvestment Act.

The bank has tie ups with several non-profit organizations and invests in the sphere of community and economic development along with early education for children. It has spent more than $72 million in the year 2013 alone for this objective.

The Asset Management Group of the banking company is very efficient. It features among the top 10 bank weal managers as compiled by Barron’s.

The bank is quarter owner of the BlackRock, the largest asset management company of the world.

It is one of the top retail, services and small business lenders of the US.

The PNC Bank therefore, is a provider of services to both the needy and better off. It features among the top 10 in many lists. The bank has and continues to evolve in the services that it provides.

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