The chief executive of PNC Financial Services Group Inc. (PNC) said Tuesday the U.S. economy is now on the mends, but the road to recovery will be slow.

"It's going to be a slow trip back," James Rohr, CEO of PNC, told investors at the Goldman Sachs U.S. Financial Services Conference in New York.

Rohr said his bank will earn much "more than $2 billion" in 2009, after accounting for some sales of assets.

Once the economy recovers, Rohr said PNC should earn a 1.3% annual return on assets.

-By Marshall Eckblad, Dow Jones Newswires; 212-416-2156; marshall.eckblad@dowjones.com
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