PITTSBURGH, Pa. – PNC Financial Services Group Inc. reported its first quarter highlights Tuesday, which included a net interest income decrease of 1% and a total revenue of $5.5 billion, a decrease of $115 million.
However, it was noted the results reflect two fewer days in the quarter, seasonality and a slowdown in capital markets activity.
Overall, PNC reported being well-positioned and positive with the report for a quarter that saw it repurchase $200 million in common shares.
“PNC had a strong start to the year,” said Bill Demchak, PNC chairman and CEO. “We grew customers and commercial loans, expanded our net interest margin, increased capital levels and maintained solid credit quality metrics. While market uncertainty impacted our capital markets activity, expenses remained well-controlled, resulting in another quarter of strong results. Regardless of market developments, our balance sheet is well-positioned and we continue to expect record net interest income and solid positive operating leverage in 2025.”
The full report can be viewed HERE.