- Program's First Phase Includes 41 New In-Store Branches And 180
Additional ATMs; PNC To Create 225 Positions -
LANDOVER, Md., Oct. 23 /PRNewswire-FirstCall/ -- The PNC Financial
Services Group, Inc. (NYSE: PNC) and Giant Food LLC of Landover, Maryland,
today announced an exclusive, 10-year agreement under which PNC will
provide banking services in Giant supermarket locations across Virginia,
Maryland, Delaware and the District of Columbia.
"This agreement significantly expands our presence in PNC's
fastest-growing region around Washington and Baltimore as we continue to
make banking easier and more convenient for PNC customers," said Joseph C.
Guyaux, president of PNC. "With Giant, we will expand our successful
in-store banking program with the region's No. 1 grocer in market share,
create 225 positions and build upon our business model that differentiates
us from other banks."
"We are very excited and pleased to bring to our Giant customers a new
in-store banking opportunity," said Robin Michel, executive vice president
and general manager of Giant Food. Michel continued, "Many Giant customers
have come to appreciate the convenience of full-service, in-store banking.
With PNC, we expand an existing relationship with one of the nation's
best-performing banks, which has 12 years of in-store banking success and a
strong network of banks in our market areas. We are also pleased to be
providing our Giant customers with a bank that shares our commitment to the
high-quality service that our customers expect."
PNC Bank, which includes 1,100 branches and 4,000 ATM locations,
intends to open full-service, in-store branches. Initial plans call for 41
new in-store branches and 180 ATMs to be in place in 2009. In addition to
locations in the District of Columbia, Virginia and Maryland, in-store
branch locations will be in Delaware, where PNC already has in-store
branches in three Giant stores. Under the agreement, more in-store branches
and ATMs will be added in existing and new Giant stores during the next 10
years. Financial terms of the agreement were not disclosed.
This new agreement expands PNC's in-store program, which currently
includes more than 60 branches at grocery stores in five states (Delaware,
Kentucky, Maryland, New Jersey and Pennsylvania). It also builds upon the
successful in-store banking relationship in New Jersey between PNC and
Giant Food's affiliated supermarket chain Stop & Shop.
PNC's in-store branches increase the availability of banking services
seven days a week. A broad range of services is available, including
checking, savings, loans, mortgages and investments. The new Giant in-store
branch locations will expand upon PNC's existing presence in the region,
which includes: 133 traditional branches and 267 ATMs in the Greater
Washington Area; 142 branches and 146 ATMs in Greater Maryland; and 45
branches and 175 ATMs in Delaware.
About Giant
Giant Food LLC, headquartered in Landover, MD, operates 183
supermarkets in Virginia, Maryland, Delaware and the District of Columbia,
and employs approximately 21,000 associates. Included within the 183 stores
are 165 full-service pharmacies. For more on Giant, visit
http://www.giantfood.com.
About PNC
PNC Bank, N.A., and PNC Bank, Delaware, are members of The PNC
Financial Services Group, Inc. (http://www.pnc.com), which is one of the
nation's largest diversified financial services organizations providing
consumer and business banking; specialized services for corporations and
government entities, including corporate banking, real estate finance and
asset-based lending; wealth management; asset management and global fund
services.
SOURCE PNC Bank
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Related links:
http://www.pnc.com
http://www.giantfood.com
http://www.prnewswire.com/comp/701257.html /
CONTACT:
MEDIA, Fred Solomon of PNC, +1-412-762-7544,
frederick.solomon@pnc.com; or Jamie Miller of Giant Food LLC,
+1-301-341-8776, jmiller@giantofmaryland.com; or INVESTOR,
William Callihan of PNC, +1-412-762-8257,
investor.relations@pnc.com
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