PNC Financial Services Group Inc

Latest Results (30.08.2026):

PNC Financial Services Group, Inc. reported results for the Second Quarter 2026: net income of $2,055 million ($2.1 billion), diluted EPS of $4.81 (or $4.85 as adjusted), on record total revenue of $6.875 billion driven by higher net interest income and fee income; results include full-quarter benefit of the FirstBank acquisition and certain integration and significant items.

Income and EPS

Net income: $2,055 million; diluted EPS: $4.81; adjusted diluted EPS (ex‑integration and 2Q26 significant items): $4.85. The combined integration and significant items reduced net income by $15 million (EPS impact -$0.04).

Revenue, NII and Fees

Total revenue was a record $6.875 billion. Net interest income was $4,107 million (NIM 2.96%), up 4% vs. 1Q26. Fee income (non‑GAAP) was $2,279 million, up 10% quarter‑over‑quarter, led by record capital markets and advisory revenue.

Operating profitability

Pretax, pre‑provision earnings (PPNR) were $2,777 million (up 16% Y/Y) and return on average tangible common equity (ROTCE) was ~17.9%. Efficiency ratio was 60% for the quarter.

Integration and 2Q26 significant items

PNC incurred $127 million of FirstBank integration costs in 2Q26. Notable significant items: $448 million gain from the Visa Class B‑2 exchange, offset partly by a $140 million PNC Foundation contribution expense, $139 million securities loss from repositioning ~$4 billion of AFS securities, and -$85 million Visa B‑3 derivative fair‑value adjustments.

Expenses

Noninterest expense was $4,098 million (up 9% vs. 1Q26) and included $261 million of integration and 2Q26 significant items ($140M Foundation contribution and $121M integration expense). Excluding those items, noninterest expense was $3,837 million, up 5% vs. 1Q26.

Balance sheet and funding

Average loans were $363.2 billion (up $12.3 billion, or 4% vs. 1Q26); quarter‑end loans $368.0 billion. Average deposits were stable at $457.0 billion; noninterest‑bearing deposits grew (now 23% of avg. deposits). Average borrowed funds rose to $78.9 billion, driven by higher FHLB advances.

Capital returns and dividend

PNC returned $1.3 billion of capital in 2Q26 (≈$0.7B dividends, $0.6B share repurchases). Board raised the quarterly common dividend to $2.00 per share (18% increase), payable August 5, 2026.

Capital and liquidity

Basel III CET1 capital ratio was estimated at 9.9% at June 30, 2026 (10.1% at 3/31/26). Average Liquidity Coverage Ratio (LCR) for the quarter was 106%, above regulatory minimums.

Credit quality

Provision for credit losses: $191 million. Net loan charge‑offs: $226 million (annualized 0.25% of average loans). Allowance for credit losses: $5.461 billion (1.48% of total loans). Nonperforming loans totaled $2.0 billion, down 10% vs. 3/31/26.

Business segments

Segment performance: Retail Banking earnings $1,747 million (benefited from Visa exchange gain and FirstBank integration); Corporate & Institutional Banking earnings $1,588 million (record capital markets/advisory activity); Asset Management Group earnings $135 million. “Other” was a drag (includes ALM, securities repositioning and other corporate items).