2003 Annual Report: Chief Financial Officer's Letter (Page 3 of 3)

Financial Highlights

(Dollars in millions, except per share information)
		Year Ended December 31
For the Year		2003				2002
Revenue*		$	38,529			$	35,082
Net income			10,810				9,249
Shareholder value added			5,621				3,760
Earnings per common share			7.27				6.08
Diluted earnings per common share			7.13				5.91
Dividends paid per common share			2.88				2.44
Return on average assets			1.41	%			1.40	%
Return on average common
shareholders' equity			21.99	%			19.44	%
Efficiency ratio			52.23	%			52.55	%
Average common shares issued
and outstanding (in millions)			1,487				1,520
At Year End
Total assets		$	736,445			$	660,951
Total loans and leases			371,463				342,755
Total deposits			414,113				386,458
Total shareholders' equity			47,980				50,319
Common shareholders' equity			47,926				50,261
Book value per common share			33.26	%			33.49	%
Market price per share of
common stock			80.43	%			69.57	%
Common shares issued and
outstanding (in millions)			1,441				1,501
* Fully taxable-equivalent basis