PNC Financial Services reported a strong third quarter with net income of $1.8 billion, demonstrating robust growth in customers, loans, and deposits, amid a favorable economic backdrop.

• Record revenue of $5.9 billion and positive operating leverage exceeding 200 basis points, driven by strong customer activity and loan growth.
• Non-interest income reached new highs, reflecting broad-based performance across fee income categories.
• Steady customer growth in retail banking and a notable expansion of the branch network, including a strategic acquisition of FirstBank to enhance market presence in Colorado.
• Effective cost management led to control over expenses, supporting a PPNR of $2.5 billion, amid a strong net charge-off ratio of only 22 basis points.
• Continued capital return to shareholders with $1 billion in capital returned, including $679 million in dividends and $331 million in share repurchases.