The Cities for Financial Empowerment Fund, a nonprofit that seeks to improve financial stability of low- and moderate-income households, validated the account under its Bank On initiative.
The Pittsburgh company intends to continue adding commercial offices and retail branches in markets it had been eyeing before agreeing to buy BBVA USA for $11.6 billion.
BBVA USA was one of the first U.S. banks to deploy a real-time core system and to purchase a neobank. Here's what PNC may keep, and what it may jettison, after it acquires the U.S. unit of the Spanish banking giant.
The Pittsburgh company is using its BlackRock windfall to execute a familiar script: buy an underperforming bank, cut costs and strengthen ties with commercial clients.
The deal would rank among the biggest bank combinations since the financial crisis, creating a coast-to-coast franchise with about $563 billion of assets and branch presence in 29 of the nation’s 30 largest markets.
