PNC Financial Services Group saw expected increases in total nonperforming loans and net loan charge-offs in the second quarter. The increases were primarily due to high commercial nonperforming loans and higher commercial real estate (CRE) net loan charge-offs, the bank said in a Tuesday (July...
The PNC Financial Services Group and the TCW Group have formalized and expanded their partnership to develop a private credit platform focused on middle market lending. The companies aim to have $2.5 billion in investor equity capital available in the platform’s first year, and expect investment activity...
The largest U.S. banks are reporting a slowdown in lending. Bank of America and PNC were the latest to do so, with the former reporting Tuesday (April 16) that lending was “sluggish” and the latter saying its lending dropped 1%, the Financial Times (FT) reported Tuesday. With their earnings reports...
The largest U.S. banks cut a total of more than 5,000 jobs during the first quarter. They did so to control costs during an uncertain economic climate in which investors are unsure if the Federal Reserve will cut interest rates later this year, Reuters reported Tuesday (April 16). Citigroup...
September 07, 2023
Real-time payments schemes are proliferating around the globe. Getting them to work in sync and breaking down the silos that exist between countries will be key to helping faster payments scale across a variety of commercial and consumer-facing use cases, a trio of payments experts told PYMNTS. Panelists included Dave Scola, CEO for the U.S. […]
June 15, 2022
It’s time for the consumerization of B2B payments. A quartet of payments professionals told PYMNTS in an On the Agenda (OTA) discussion that commercial payments are taking a cue from...
August 31, 2021
Right now — and this might surprise you — desktop internet banking still reigns supreme, largely because so many of us have been working from home and conducting life via...
April 21, 2021
It would be difficult to find something more universally hated among banking consumers than overdraft fees. According to a 2020 UCLA study, about 30 percent of accounts have at least...
October 15, 2024
PNC Financial Services Group said Tuesday (Oct. 15) that it is prepared for lending to pick up after the Federal Reserve cut interest rates in September. During the third quarter, which ended Sept. 30, the bank’s average loans, credit quality performance and allowance for credit losses remained stable, according to a Tuesday earnings release. “CNIB […]
July 16, 2024
PNC Financial Services Group saw expected increases in total nonperforming loans and net loan charge-offs in the second quarter. The increases were primarily due to high commercial nonperforming loans and...
May 06, 2024
The PNC Financial Services Group and the TCW Group have formalized and expanded their partnership to develop a private credit platform focused on middle market lending. The companies aim to have...
April 16, 2024
The largest U.S. banks are reporting a slowdown in lending. Bank of America and PNC were the latest to do so, with the former reporting Tuesday (April 16) that lending was “sluggish” and...
