PNC Financial Services Group, Inc.: Revenue decline largely offset by lower recurring expenses; asset quality still solid
PNC reported solid core earnings in Q1 2024, as lower net interest and noninterest income was largely offset by a decline in recurring expenses; asset quality remains solid.PNC Financial Services Group is a bank holding company. The company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing its products and services nationally. The company's segments are: Retail Banking, which provides deposit, lending, brokerage, insurance services, investment management and cash management products and services; Corporate and Institutional Banking, which provides lending, treasury management, and capital markets-related products and services; Asset Management Group, which provides personal wealth management; and BlackRock, which provides a range of investment and technology services.
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