Morningstar

PNC 4Q Profit Rises as Loans Increase

Provided by Dow Jones

By Nicholas G. Miller 




  PNC posted higher fourth-quarter profit on the back of loan growth and increased demand for its financial services. 



  The Pittsburgh bank and financial-services company on Friday reported net income of $2.03 billion, or $4.88 a share, up from $1.63 billion, or $3.77 a share, the year prior. Analysts polled by FactSet expected $4.20 a share. 



  Total revenue rose 9% to $6.07 billion. Wall Street expected $5.96 billion. Net interest income increased 6% to $3.73 billion, reflecting lower funding costs, loan growth and fixed-rate asset repricing. 



  Noninterest income rose 14% to $2.34 billion with the company citing higher average equity markets and increased client activity, a boost in merger and acquisition activity, higher loan commitment fees and more private-equity revenue. 



  Total loans at the end of the quarter rose 5% to $331.5 billion. 



  Provision for credit losses fell 17% to $139 million, while net loan chargeoffs sank 35% to $162 million. 





  Write to Nicholas G. Miller at nicholas.miller@wsj.com. 





  (END) Dow Jones Newswires



  January 16, 2026 07:10 ET (12:10 GMT)


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