By Everdeen Mason and Ben Fox Rubin
PNC Financial Services Group Inc.’s fourth-quarter earnings rose 46% as improved credit quality and growth in loans continued to boost the company’s bottom line.
Regional banks’ revenue from loans and investing has been pressured recently by low interest rates. Businesses are borrowing, but interest rates that banks charge on loans remain low.
PNC, one of the largest lenders in commercial real estate, reported a profit of $1.05 billion, up from $718 million a year earlier. On a per-share basis, which reflects the payment of preferred dividends, earnings rose to $1.85 from $ 1.24 a share.
Total revenue remained virtually flat at $4.07 billion.
Analysts polled by Thomson Reuters expected earnings of $1.65 a share and revenue of $3.83 billion.
Net interest margin–a key measure of lending profitability–was 3.38% compared with 3.85% a year ago and 3.47% in the prior quarter.
PNC, similar to its rivals, has largely been able to reduce the amount of funds set aside to cover risky loans as credit conditions in the U.S. continue to strengthen. PNC reported its credit-loss provisions totaled $113 million, sharply lower than $318 million a year ago and $137 million in the previous quarter.
Loans rose 1.5% to $195.6 billion as of Dec. 31, compared with Sept. 30.
Shares closed at $78.84 on Wednesday and were inactive premarket. The stock has climbed 32% in the past 12 months.
Order free Annual Report for The PNC Financial Services Group, Inc.
Visit http://djnweurope.ar.wilink.com/?ticker=US6934751057 or call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
01-16-140733ET
Copyright (c) 2014 Dow Jones & Company, Inc.
This entry passed through the Full-Text RSS service — if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.
PNC Financial Profit Rises on Loan Growth, Improved Credit Quality – NASDAQ
loan credit – Google News
Related Posts:
PNC Financial Profit Rises on Loan Growth, Improved Credit… January 16, 2014 By Everdeen Mason and Ben Fox Rubin PNC Financial Services Group Inc.’s fourth-quarter earnings rose 46% as improved credit quality and growth in loans continued to boost the company’s bottom line. Regional banks’ revenue from loans and investing has been pressured recently by low interest rates. Businesses are borrowing, but interest rates that banks charge on loans remain low. PNC, one of the largest lenders in commercial real estate, reported a profit of $1.05 billion,…
PNC Financial Profit Rises on Loan Growth, Improved Credit… January 16, 2014 By Everdeen Mason and Ben Fox Rubin PNC Financial Services Group Inc.’s fourth-quarter earnings rose 46% as improved credit quality and growth in loans continued to boost the company’s bottom line. Regional banks’ revenue from loans and investing has been pressured recently by low interest rates. Businesses are borrowing, but interest rates that banks charge on loans remain low. PNC, one of the largest lenders in commercial real estate, reported a profit of $1.05 billion,…
PNC Financial Profit Rises on Loan Growth, Improved Credit… January 16, 2014 By Everdeen Mason and Ben Fox Rubin PNC Financial Services Group Inc.’s fourth-quarter earnings rose 46% as improved credit quality and growth in loans continued to boost the company’s bottom line. Regional banks’ revenue from loans and investing has been pressured recently by low interest rates. Businesses are borrowing, but interest rates that banks charge on loans remain low. PNC, one of the largest lenders in commercial real estate, reported a profit of $1.05 billion,…
PNC Financial Profit Rises on Loan Growth, Improved Credit… January 16, 2014 By Everdeen Mason and Ben Fox Rubin PNC Financial Services Group Inc.’s fourth-quarter earnings rose 46% as improved credit quality and growth in loans continued to boost the company’s bottom line. Regional banks’ revenue from loans and investing has been pressured recently by low interest rates. Businesses are borrowing, but interest rates that banks charge on loans remain low. PNC, one of the largest lenders in commercial real estate, reported a profit of $1.05 billion,…
PNC Financial Profit Rises on Loan Growth, Improved Credit… January 16, 2014 Updated Jan. 16, 2014 8:07 a.m. ET PNC Financial Services Group Inc.’s fourth-quarter earnings rose 46% as improved credit quality and growth in loans continued to boost the company’s bottom line. Regional banks’ revenue from loans and investing has been pressured recently by low interest rates. Businesses are borrowing, but interest rates that banks charge on loans remain low. PNC, one of the largest lenders in commercial real estate, reported a profit of $1.05 billion,…
The post PNC Financial Profit Rises on Loan Growth, Improved Credit Quality – NASDAQ – loan credit – Google News appeared first on Credit Card Bank.