PNC Financial posts Q3 net income of $2.1 billion

• PNC Financial Services Group (NYSE:PNC) generated third-quarter 2026 net income of $2.1 billion, delivering diluted EPS of $4.97.
• Quarterly revenue reached $6.562 billion, growing 11% year over year despite falling 5% sequentially.
• Noninterest expenses declined 8% sequentially as the bank's overall efficiency ratio improved to 57%.

PNC Financial Services Group (NYSE:PNC) reported third-quarter 2026 net income of $2.1 billion, supported by an 11% year-over-year revenue increase.

Diluted earnings per share reached $4.97, up from $4.81 in the second quarter and $4.35 in the prior-year period.

Adjusted earnings per share landed at $5.09 while total revenue reached $6.562 billion, declining 5% sequentially.

Net interest income rose 2% sequentially while fee income fell 6%, with noninterest expenses declining 8% to improve the efficiency ratio to 57%.

Average loans rose 2% sequentially to $372.2 billion, while average client deposits expanded 1% to $461.2 billion.

Nonperforming loans increased 8% to $2.2 billion while the bank repurchased $0.6 billion of shares during the quarter.