PNC Bank reports third quarter profit of $1 billion

PNC Bank reports third quarter profit of $1 billion

pittsburgh

PNC Bank today reported a third quarter profit of $1 billion, or $1.79 per share.

The bank’s earnings report was an improvement from the same period one year ago, when it reported a profit of $925 million, or $1.64 per share, but just under the bank’s profit in the second quarter of 2013, which was $1.1 billion.

In a press release, the bank said earnings reflected continued loan growth, an improvement in credit quality, growth in fee-based income and tight expense management.

PNC is the nation’s ninth largest bank. It is Youngstown’s second largest.