PNC Financial Services Group Inc (PNC.N)
Fri, Jan 12 2018
Jan 12 PNC Financial Services Group Inc reported a better-than-expected quarterly profit on Friday, helped by higher interest income and consumer loan growth and the U.S. regional lender also forecast mid-single digit loan and revenue growth for 2018.
* PNC REPORTS RECORD FULL YEAR 2017 NET INCOME OF $5.4 BILLION, $10.36 DILUTED EPS
Jan 12 Regional lender PNC Financial Services' quarterly profit doubled, driven by a $911 million one-time benefit related to President Donald Trump's new tax law.
* PNC ANNOUNCES REDEMPTION OF 1.500 PERCENT SENIOR BANK NOTES DUE FEBRUARY 23, 2018
* PNC FINANCIAL SERVICES GROUP SAYS BOARD INCREASED NUMBER OF DIRECTORS FROM 14 TO 16 - SEC FILING Source text: (http://bit.ly/2CTs0hX) Further company coverage:
* WILL PROVIDE FOR EMPLOYEES IN DEFINED BENEFIT PENSION PLAN AN ADDITIONAL $1,500 TO THEIR EXISTING PENSION ACCOUNTS
* PNC BANK ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE THE TROUT GROUP, LLC
(The following statement was released by the rating agency) CHICAGO, October 13 (Fitch) PNC Financial Services Group, Inc. (PNC) reported $1.1 billion of net income in the third quarter of 2017 (3Q17), up 2.6% on a linked-quarter basis and a considerable 12% from the year-ago period. Return on average assets (ROA) and return on average common equity (ROE) were stable from the linked quarter at 1.2% and 9.9%, respectively. PNC's higher net income was driven by growth in net interest income (NIM)
* PNC Financial Services - expects modest growth in Q4 loans versus Q3 - conf call
* Says qtrly net interest income grew $87 million, or 4 percent, from Q2 to $2.3 billion