Pnc Financial Services Group, Inc. (the) · NYSE:PNC

Pnc Financial Services Group, Inc. (the) — Q4 2025 Earnings Presentation

26 slides from Pnc Financial Services Group, Inc. (the)'s earnings presentation, Jan 16, 2026

  1. Slide 1: Fourth Quarter 2025 Earnings Conference Call

    Fourth Quarter 2025 Earnings Conference Call January 16, 2026

  2. Slide 2: Cautionary Statement

    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

  3. Slide 3: Delivered Exceptional Full Year 2025 Results

    Delivered Exceptional Full Year 2025 Results Net Income of $7.0 billion, or $16.59 Diluted Earnings per Share  Record revenue driven by record NII and record noninterest income 2025 Financial Highlights +7%  Expenses well-controlled; 5% positive operating leverage Total Revenue  Increased loans a

  4. Slide 4: Increased Loans and Deposits

    Increased Loans and Deposits Balance Sheet Summary Linked Quarter Year-over-Year Average balances, $ billions 4Q25 $ % $ % Total loans $327.9 $2.0 1% $8.9 3% Investment securities $142.2 $(2.2) (2)% $(1.6) (1)% Federal Reserve Bank balances $31.3 $(2.9) (8)% $(6.2) (17)% Total deposits $439.5 $7.7 2

  5. Slide 5: Growth in C&I Drove Higher Loan Balances

    Growth in C&I Drove Higher Loan Balances Consolidated Average Loan Balances Average Loan YoY Roll-Forward Total loans increased 1% LQ and 3% YoY 8% C&I growth partially offset by decrease in CRE and Consumer $326 $328 $319 $196 $199 C&I Loans +1% LQ and $14.6 $184 +8% YoY $327.9 $(4.3) $ billions $(

  6. Slide 6: Deposits Increased Driven by Higher Commercial Deposits

    Deposits Increased Driven by Higher Commercial Deposits Consolidated Average Deposit Balances Average Commercial Deposits Interest-Bearing Noninterest-Bearing $440 Total Deposits +2% LQ $150 $432 and +3% YoY $144 $136 $76 $74 $72 $ billions $425 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 2.43% $ billions 2.32% R

  7. Slide 7: Strong Revenue Growth and Well-Controlled Expenses

    Strong Revenue Growth and Well-Controlled Expenses Income Statement Summary Quarter Full Year $ millions except EPS 4Q25 LQ YoY 2025 vs. 2024 Net interest income $3,731 2% 6% $14,410 7% Noninterest income 2,340 3% 14% 8,689 8% Total revenue $6,071 3% 9% $23,099 7% Noninterest expense 3,603 4% 3% 13,

  8. Slide 8: Record Revenue; Driven by Record Net Interest Income and Record Fee Income

    Record Revenue; Driven by Record Net Interest Income and Record Fee Income Total Revenue Detail of Revenue Total Revenue Quarter Full Year Noninterest Income to Total Revenue $6,071 $ millions 4Q25 LQ YoY 2025 vs. 2024 $5,915 Net interest income $3,731 2% 6% $14,410 7% $5,567 Net interest margin (no

  9. Slide 9: Expenses Remain Well-Controlled

    Expenses Remain Well-Controlled Noninterest Expense Detail of Noninterest Expense Noninterest Expense Quarter Full Year Efficiency Ratio1 $ millions 4Q25 LQ YoY 2025 vs. 2024 $3,603 $3,506 $3,461 Personnel $2,033 3% 9% $7,782 7% Occupancy 247 5% 3% 962 1% 63% 59% 59% $ millions Equipment 412 (1)% (1

  10. Slide 10: Strong Credit Quality

    Strong Credit Quality Nonperforming Loans (NPLs) Credit Quality Metrics 4Q24 3Q25 4Q25 Commercial Consumer NPLs / Total Loans (Period end) 0.73% 0.65% 0.67% Delinquencies / Total Loans1 (Period end) 0.44% 0.38% 0.44% NCOs / Average Loans2 0.31% 0.22% 0.20% $2,326 $2,218 Allowance for Credit Losses t

  11. Slide 11: Closed FirstBank Acquisition on January 5, 2026

    Closed FirstBank Acquisition on January 5, 2026 Transaction Summary Quality Franchise With Strong Presence in Key Markets  Total consideration of $4.2 billion1 95 branches across Colorado and Arizona Structure &  70% stock; 30% cash Consideration #2 deposit share3 rank in Colorado  Issued 13.9 mi

  12. Slide 12: Full Year 2026 Outlook

    Full Year 2026 Outlook Including Impact of FirstBank Acquisition Full Year 2026 Guidance1,2 Average loans: Up ~8% (FY25 baseline: $323.4 billion) Net interest income: Up ~14% (FY25 baseline: $14.4 billion) Noninterest income: Up ~6% (FY25 baseline: $8.7 billion) Total revenue: Up ~11% (FY25 baseline

  13. Slide 13: First Quarter 2026 Outlook

    First Quarter 2026 Outlook Including Impact of FirstBank Acquisition First Quarter 2026 Guidance1,2 Average loans: Up ~5% (4Q25 baseline: $327.9 billion) Net interest income: Up ~6% (4Q25 baseline: $3.7 billion) Fee income (non-GAAP): Down 1% to 2% (4Q25 baseline: $2.1 billion) Other noninterest inc

  14. 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,

  15. 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: −

  16. 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

  17. Slide 17: Investment Securities and Receive Fixed Swaps

    Appendix: Investment Securities and Receive Fixed Swaps Investment Securities Cumulative Projected Runoff2 Securities yield stable LQ 15% of securities and swap portfolio projected to runoff through 2026 Securities Balances Securities Yield Average balances; $ billions $- $144 $144 $142 3.17% 3.36%

  18. Slide 18: Appendix: 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 December 31, 2025 (estimated): $ billions Tier 1 Capital December 31, 2025 (estimate

  19. Slide 19: Appendix: Non-GAAP to GAAP Reconciliation

    Appendix: Non-GAAP to GAAP Reconciliation Pretax, Pre-Provision Earnings (non-GAAP) For the three months ended For the year ended $ millions Dec. 31, 2025 Sep. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024 Total revenue $6,071 $5,915 $5,567 $23,099 $21,555 Total noninterest expense 3,603 3,461

  20. Slide 20: Appendix: Non-GAAP to GAAP Reconciliation

    Appendix: Non-GAAP to GAAP Reconciliation Fee Income (non-GAAP) For the three months ended For the year ended $ millions Dec. 31, 2025 Sep. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024 Noninterest income Asset management and brokerage $411 $404 $374 $1,597 $1,485 Capital markets and advisory 4

  21. Slide 21: Appendix: 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 year ended $ millions Dec. 31, 2025 Sep. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024 Net interest income $3,731 $3,648 $3,523 $14,410 $13,499 Taxable-equivalent adjus

  22. Slide 22: Appendix: 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 Dec. 31, 2025 Sep. 30, 2025 Dec. 31, 2024 Book value per common share $140.44 $135.67 $122.94 Tangible book value per common share Common shareholder

  23. Slide 23: Appendix: Non-GAAP to GAAP Reconciliation

    Appendix: Non-GAAP to GAAP Reconciliation Tangible Common Equity Ratio (non-GAAP) For the three months ended $ millions Dec. 31, 2025 Sep. 30, 2025 Dec. 31, 2024 Tangible common shareholders’ equity Common shareholders’ equity $54,828 $53,235 $48,676 Goodwill and other intangible assets (11,138) (11

  24. Slide 24: Appendix: Non-GAAP to GAAP Reconciliation

    Appendix: Non-GAAP to GAAP Reconciliation Return On Average Tangible Common Equity (non-GAAP) For the three months ended For the year ended $ millions Dec. 31, 2025 Sep. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024 Return on average common shareholders’ equity 14.33% 13.24% 12.38% 12.90% 11.92

  25. Slide 25: Appendix: Preferred Dividends

    Appendix: Preferred Dividends Preferred Dividends For the three months ended For the year ended $ millions Mar. 31, 2026 Jun. 30, 2026 Sep. 30, 2026 Dec. 31, 2026 Dec. 31, 2026 Preferred dividends $73 $86 $73 $97 $328 The above represents our current estimate for preferred dividends in 2026 for curr

  26. Slide 26: Earnings Presentation Footnotes

    Earnings Presentation Footnotes Slide 2 – Delivered Exceptional Full Year 2025 Results 1. Net loan charge-off ratio represents annualized net loan charge-offs to average loans for the three months ended. Slide 3 – Increased Loans and Deposits 1. Basel III common equity Tier (CET) 1 capital ratio – 1

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