Mon, January 20, 2025
Sun, January 19, 2025
Sat, January 18, 2025
Fri, January 17, 2025
Thu, January 16, 2025
[ Thu, Jan 16th ]: MSN
Opening Bell: 1.15.25
Wed, January 15, 2025
Tue, January 14, 2025
Mon, January 13, 2025
[ Mon, Jan 13th ]: CNET
Rocket Money Review 2025
[ Mon, Jan 13th ]: CFO
A CFO action plan for 2025
Sun, January 12, 2025
Sat, January 11, 2025

PNC Financial's profit rises on interest income growth, lower rainy-day funds


  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. nterest-income-growth-lower-rainy-day-funds.html
  Print publication without navigation Published in Business and Finance on by Reuters
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source


  PNC Financial on Thursday reported a higher fourth-quarter profit as it earned more in interest payments and set aside less capital to cover potential loan defaults.

PNC Financial Services Group reported a rise in its fourth-quarter profit on January 16, 2025, driven by an increase in interest income and a reduction in provisions for credit losses. The bank's net interest income grew due to higher interest rates, although this was partially offset by increased funding costs. PNC also benefited from lower reserves set aside for potential loan losses, reflecting an improved economic outlook. However, non-interest income saw a decline due to lower fee income from capital markets and advisory services. Despite these challenges, PNC's CEO, William Demchak, expressed optimism about the bank's strategic positioning and its ability to navigate the current economic environment effectively.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/pnc-financials-profit-rises-interest-income-growth-lower-rainy-day-funds-2025-01-16/ ]

Publication Contributing Sources