Scott Peters
15 Apr, 2022
New York City
The PNC Financial Services Group said first quarter revenues increased 11% to $4.7 billion from a year ago reflecting the acquisition of BBVA USA. Revenues declined 8% from the previous quarter. Net interest margin in the first quarter was 2.28% compared to 2.27% a year ago. Net income declined 22% to $1.43 billion on lower capital markets activities. Earnings per share fell to $3.29 from $4.10 a year ago and provision for loan losses fell to 1.76% from 2.2%.
