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Strong loan growth; 4% positive operating leverage; stable credit quality Quarterly common stock dividend increased 10 cents to $1.70 per share on July 3, 2025 PITTSBURGH , July 16, 2025 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 2Q25 1Q25 2Q24 Second Quarter Highlights Financial Results Comparisons reflect 2Q25 vs. 1Q25 Net interest income (NII) $ 3,555 $ 3,476 $ 3,302 Income Statement \u25aa Generated 4% positive operating leverage; PPNR increased 10% \u25aa Revenue increased 4% – NII increased 2%; NIM expanded 2 bps to 2.80% – Fee income increased 3% – Other noninterest income of $212 million \u25aa Noninterest expense was stable – Efficiency ratio improved to 60% Balance Sheet \u25aa Average loans increased $6.1 billion, or 2%, driven by 4% growth in commercial and industrial loans \u25aa Average deposits grew $2.3 billion \u25aa Net loan charge-offs were $198 million, or 0.25% annualized to average loans \u25aa AOCI improved $0.6 billion to negative $4.7 billion \u25aa TBV per share increased 4% to $103.96 \u25aa Maintained strong capital position – CET1 capital ratio of 10.5% – Returned $1 billion of capital through common dividends and share repurchases – Strong Federal Reserve stress test results; Stress capital buffer will remain at the regulatory minimum of 2.5% Fee income (non-GAAP) 1,894 1,839 1,777 Other noninterest income 212 137 332 Noninterest income 2,106 1,976 2,109 Revenue 5,661 5,452 5,411 Noninterest expense 3,383 3,387 3,357 Pretax, pre-provision earnings (PPNR) (non-GAAP) 2,278 2,065 2,054 Provision for credit losses 254 219 235 Net income 1,643 1,499 1,477 Per Common Share Diluted earnings per share (EPS) $ 3.85 $ 3.51 $ 3.39 Average diluted common shares outstanding 397 398 400 Book value 131.61 127.98 116.70 Tangible book value (TBV) (non-GAAP) 103.96 100.40 89.12 Balance Sheet & Credit Quality Average loans In billions $ 322.8 $ 316.6 $ 319.9 Average securities In billions 141.9 142.2 141.3 Average deposits In billions 423.0 420.6 417.2 Accumulated other comprehensive income (loss) (AOCI) In billions (4.7) (5.2) (7.4) Net loan charge-offs 198 205 262 Allowance for credit losses to total loans 1.62 % 1.64 % 1.67 % Selected Ratios Return on average common shareholders' equity 12.20 % 11.60 % 12.16 % Return on average assets 1.17 1.09 1.05 Net interest margin (NIM) (non-GAAP) 2.80 2.78 2.60 Noninterest income to total revenue 37 36 39 Efficiency 60 62 62 Effective tax rate 18.8 18.8 18.8 Common equity Tier 1 (CET1) capital ratio 10.5 10.6 10.2 See non-GAAP financial measures in the Consolidated Financial Highlights accompanying this release.
