Pnc Financial Services Group, Inc. (the) · NYSE:PNC
Pnc Financial Services Group, Inc. (the) — The PNC Financial Services Group — Q3 2025 Earnings Presentation
27 slides from Pnc Financial Services Group, Inc. (the)'s earnings presentation, Oct 15, 2025
Slide 1: Third Quarter 2025 Earnings Conference Call
Third Quarter 2025 Earnings Conference Call October 15, 2025
Slide 2: Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information
Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information Our earnings conference call presentation is not intended as a full business or financial review and should be viewed in the context of all of the information made available by PNC in its SEC filings and on our corpora
Slide 3: Strong 3Q25 Results
Strong 3Q25 Results Net Income of $1.8 billion, or $4.35 Diluted Earnings per Share Record revenue including higher NII and broad-based fee growth 3Q25 Financial Highlights +4% Expenses well-controlled; 59% efficiency ratio1 Total Revenue Increased loans and deposits +9% Fee Income (non-GAAP)
Slide 4: Diversified Businesses Driving Growth
Diversified Businesses Driving Growth Third Quarter 2025 Business Highlights Retail Banking PNC Strategic Priorities Revenue increased 9% YoY Grew consumer checking accounts by 2% YoY, including 6% growth in the Southwest1 Grow our client base by Increased brokerage assets to record level prov
Slide 5: Increased Loans and Deposits
Increased Loans and Deposits Balance Sheet Summary Linked Quarter Year over Year Average balances, $ billions 3Q25 $ % $ % Total loans $325.9 $3.2 1% $6.3 2% Investment securities $144.4 $2.5 2% $2.1 1% Federal Reserve Bank balances $34.2 $3.4 11% $(10.7) (24)% Total deposits $431.8 $8.9 2% $9.7 2%
Slide 6: Growth in C&I Drove Higher Loan Balances
Growth in C&I Drove Higher Loan Balances Consolidated Average Loan Balances Average Loan Roll-Forward Total loans increased 1% LQ 2% C&I growth partially offset by 3% decline in CRE $320 $323 $326 $4.4 $(1.0) $(0.2) $325.9 $192 $196 C&I Loans +2% LQ and $184 +7% YoY $322.8 6.13% Total Loan Yield +6
Slide 7: Well-Positioned Investment Securities and Receive Fixed Swaps Portfolios
Well-Positioned Investment Securities and Receive Fixed Swaps Portfolios Investment Securities High Quality Investment Securities Portfolio Securities yield increased 10bps LQ Duration of 3.4 years as of 9/30/25 $142 $142 $144 Residential Mortgage-Backed 36% 54% $144 U.S. Treasury & Gov't Agencies b
Slide 8: Deposits Increased Driven by Higher Commercial Deposits
Deposits Increased Driven by Higher Commercial Deposits Consolidated Average Deposit Balances Average Commercial Deposits Average deposits increased 2% LQ and YoY Interest-Bearing Noninterest-Bearing $432 +7% $144 $131 $134 $422 $423 $75 $72 $72 $ billions 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 2.72% $ billi
Slide 9: Strong Revenue Growth and Well-Controlled Expenses
Strong Revenue Growth and Well-Controlled Expenses Income Statement Summary Quarter Year to Date $ millions except EPS 3Q25 LQ YoY YTD 2025 vs. YTD 2024 Net interest income $3,648 3% 7% $10,679 7% Noninterest income 2,267 8% 12% 6,349 6% Total revenue $5,915 4% 9% $17,028 7% Noninterest expense 3,46
Slide 10: Record Revenue; Driven by Higher Net Interest Income and Fees
Record Revenue; Driven by Higher Net Interest Income and Fees Total Revenue Detail of Revenue Total Revenue Quarter Year to Date Noninterest income to total revenue $5,915 $ millions 3Q25 LQ YoY YTD 2025 vs. YTD 2024 $5,661 Net interest income $3,648 3% 7% $10,679 7% $5,432 Net interest margin (non-
Slide 11: Expenses Remain Well-Controlled
Expenses Remain Well-Controlled Noninterest Expense Detail of Noninterest Expense Noninterest Expense Quarter Year to Date Efficiency Ratio1 $3,461 $ millions 3Q25 LQ YoY YTD 2025 vs. YTD 2024 $3,327 $3,383 Personnel $1,970 4% 5% $5,749 6% Occupancy 235 – – 715 – $ millions 61.2% 59.8% Equipment 416
Slide 12: Strong Credit Quality
Strong Credit Quality Nonperforming Loans (NPLs) Credit Quality Metrics 3Q24 2Q25 3Q25 Commercial Consumer NPLs / Total Loans (Period end) 0.80% 0.65% 0.65% $2,578 Delinquencies / Total Loans1 (Period end) 0.40% 0.40% 0.38% NCOs / Average Loans2 0.36% 0.25% 0.22% $849 Allowance for Credit Losses to
Slide 13: Fourth Quarter 2025 vs. Third Quarter 2025
Fourth Quarter 2025 vs. Third Quarter 2025 $ millions; except loans, $ billions 3Q25 4Q25 Guidance1, 2 Average loans $325.9 Stable to up 1% Net interest income $3,648 Up ~1.5% Fee income (non-GAAP) $2,069 Down ~3% Other noninterest income $198 $150 – $200 Total revenue $5,915 Stable to down 1% Nonin
Slide 14: Appendix: Cautionary Statement
Appendix: Cautionary Statement Regarding Forward-Looking Information We make statements in this presentation, and we may from time to time make other statements, regarding our outlook for financial performance, such as earnings, revenues, expenses, tax rates, capital and liquidity levels and ratios,
Slide 15: Appendix: Cautionary Statement
Appendix: Cautionary Statement Regarding Forward-Looking Information Our forward-looking financial statements are subject to the risk that economic and financial market conditions will be substantially different than those we are currently expecting. These statements are based on our views that: −
Slide 16: Appendix: Cautionary Statement
Appendix: Cautionary Statement Regarding Forward-Looking Information Business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where appropriate, through effective use of systems and controls, third-party insurance, d
Slide 17: Securities and Swap Runoff and AOCI Accretion
Appendix: Securities and Swap Runoff and AOCI Accretion Cumulated Projected Runoff1 Securities and Swap AOCI Accretion1 19% of securities and swap portfolio projected to runoff through 2026 24% of securities and swap AOCI projected to accrete back through 2026 $- Historical Projected $(5) $(10) (4)%
Slide 18: Office Commercial Real Estate (CRE) Portfolio
Appendix: Office Commercial Real Estate (CRE) Portfolio Office CRE Loan Balances Multi-Tenant Office CRE Portfolio Multi-Tenant loans represent 54% of total office portfolio 1 2 Non-Criticized Criticized, Accrual Criticized, NPL Reserves / Loans Criticized Ratio3: 57.7% $7.2 All $5.4 $6.7 Other bill
Slide 19: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Consolidated CET1 Ratio, including AOCI & Other Fully Phased-In Expanded Risk-Based Approach (ERBA) Impacts, Basel III Endgame Impacts (non-GAAP) Common Equity Risk-Weighted September 30, 2025 (estimated): $ billions Tier 1 Capital September 30, 2025 (estima
Slide 20: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Pretax, Pre-Provision Earnings (non-GAAP) For the three months ended For the nine months ended $ millions Sep. 30, 2025 Jun. 30, 2025 Sep. 30, 2024 Sep. 30, 2025 Sep. 30, 2024 Total revenue $5,915 $5,661 $5,432 $17,028 $15,988 Total noninterest expense 3,461
Slide 21: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Fee Income (non-GAAP) For the three months ended For the nine months ended $ millions Sep. 30, 2025 Jun. 30, 2025 Sep. 30, 2024 Sep. 30, 2025 Sep. 30, 2024 Noninterest income Asset management and brokerage $404 $391 $383 $1,186 $1,111 Capital markets and adv
Slide 22: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Taxable-Equivalent Net Interest Income (non-GAAP) For the three months ended For the nine months ended $ millions Sep. 30, 2025 Jun. 30, 2025 Sep. 30, 2024 Sep. 30, 2025 Sep. 30, 2024 Net interest income $3,648 $3,555 $3,410 $10,679 $9,976 Taxable-equivalent
Slide 23: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Tangible Book Value per Common Share (non-GAAP) For the three months ended $ millions, except per share data Sep. 30, 2025 Jun. 30, 2025 Sep. 30, 2024 Book value per common share $135.67 $131.61 $124.56 Tangible book value per common share Common shareholder
Slide 24: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Tangible Common Equity Ratio (non-GAAP) For the three months ended $ millions Sep. 30, 2025 Jun. 30, 2025 Sep. 30, 2024 Tangible common shareholders’ equity Common shareholders’ equity $53,235 $51,854 $49,442 Goodwill and other intangible assets (11,163) (11
Slide 25: Non-GAAP to GAAP Reconciliation
Appendix: Non-GAAP to GAAP Reconciliation Return On Average Tangible Common Equity (non-GAAP) For the three months ended $ millions Sep. 30, 2025 Jun. 30, 2025 Sep. 30, 2024 Return on average common shareholders’ equity 13.24% 12.20% 11.72% Average common shareholders’ equity $51,969 $50,676 $47,628
Slide 26: Appendix: Preferred Dividends
Appendix: Preferred Dividends Preferred Dividends For the three months ended For the year ended $ millions Mar. 31, 2025 Jun. 30, 2025 Sep. 30, 2025 Dec. 31, 2025 Dec. 31, 2025 Preferred dividends $71 $84 $71 $84 $309 The above represents our current estimate for preferred dividends in 2025 for curr
Slide 27: Earnings Presentation Footnotes
Earnings Presentation Footnotes Slide 2 – Strong 3Q25 Results 1. Efficiency ratio calculated as total noninterest expense divided by total revenue. 2. Net loan charge-off ratio represents annualized net loan charge-offs to average loans for the three months ended. 3. Basel III common equity Tier (CE
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