PNC Financial Services Group

PNC Financial expands, diversifies executive leadership team


Less than three weeks after making a $1.05 billion pledge to fight racism, the Pittsburgh company promoted two Black bankers to its top-level management committee.


Get ready for wave of small-business defaults, PNC’s Demchak warns


With stimulus money running out and forbearances set to expire, consumer spending is bound to shrink. That's bad news for business owners and their landlords, the Pittsburgh bank's CEO says.


PNC pledges $1 billion to fight racism


The Pittsburgh-based company said the funds will be used to support community development, minority-owned businesses and charitable organizations that work to promote social justice.


JPMorgan, PNC, Comerica are latest to declare 'Juneteenth' a holiday


They join an ever-expanding list of companies choosing to close offices early Friday to observe the day that marks the end of slavery.


Guarded optimism from bank execs as economy reopens


Leaders of companies including Citizens, Comerica and Truist offered more upbeat assessments of loan demand and credit quality than they have in recent weeks. But others warned of weakness in key sectors such as energy and real estate, and said forbearance policies may be hiding potential pitfalls.


PNC open to deal that would boost assets to $700 billion, CEO says


Flush with capital from the sale of its stake in BlackRock, PNC is willing to go big on an acquisition but would be wary of buying a bank with a heavy concentration of consumer loans, CEO William Demchak said.


How coronavirus pivot helped this British fintech land PNC


The challenger bank OakNorth has been peddling its lending platform to U.S. banks for a year. When it saw COVID-19 on the horizon, it retooled to include a ratings system predicting how borrowers will be affected by the pandemic.


Pad reserves or buy out a rival? BlackRock haul gives PNC options


The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.


PNC to divest large stake in BlackRock


The Pittsburgh company has owned a 22% position in the money manager since 1995.


Credit-line drawdowns have peaked. Will banks get repaid?


The biggest lenders seem to have handled the corporate rush for cash heading into the economic shutdown caused by the coronavirus pandemic. But their ability to collect is as uncertain as the economic outlook for the next year.