PNC Posts Higher 3Q Profit, Revenue

By Connor Hart

PNC Financial Services Group logged higher profit and revenue in the third quarter as it continued adding customers.

The Pittsburgh bank and financial-services company on Wednesday reported net income of $1.82 billion, or $4.35 a share, compared with $1.51 billion, or $3.49 a share, in the prior-year period. Analysts polled by FactSet expected quarterly earnings of $4.05 a share.

Revenue rose 8.9% to $5.92 billion, topping Wall Street's models for $5.83 billion.

Net interest income came in at $3.65 billion, while noninterest income was reported at $2.27 billion.

PNC said net interest income growth was driven by the continued benefit of fixed-rate asset repricing, loan growth and one additional day in the quarter.

Provision for credit losses was $167 million, compared with $243 million last year.

Chief Executive Bill Demchak said PNC saw steady client growth across its business lines. "Fee income grew 9% and expenses were well controlled, which contributed to another quarter of positive operating leverage," he said. "Credit performed well and we continued to build on our strong capital levels."

The company is continuing to work toward its acquisition of FirstBank, expected to close early next year, set to position PNC for accelerated expansion in Colorado and Arizona.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

October 15, 2025 07:07 ET (11:07 GMT)