Overview
- PNC reported record quarterly revenue and a roughly 25% rise in profit, driven by a jump in fee income and broader business momentum.
- Capital markets and advisory revenue rose sharply to $577 million, reflecting an outsized increase in M&A advisory fees and stronger deal activity.
- The January acquisition of FirstBank helped average loans grow about 13% and supported a 16% increase in net interest income to $4.11 billion.
- PNC booked a $448 million one-time gain from selling part of its Visa stake and took a $139 million hit after repositioning about $4 billion of securities into higher-yielding paper.
- Management raised the quarterly dividend by 18% and returned $1.3 billion through dividends and buybacks, a move that signals confidence and could support further capital actions as banks reshape bond portfolios.