The PNC Financial Services Group, Inc. (PNC)

PNC Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	19,490	18,299	11,795	9,007	8,927	10,525
Interest Income on Investments	6,902	6,009	3,641	2,127	2,380	3,237
Total Interest Income	26,392	24,308	15,436	11,134	11,307	13,762
Interest Paid on Deposits	8,386	6,609	1,267	126	643	1,986
Interest Paid on Borrowings	4,627	3,783	1,155	361	718	1,811
Total Interest Expense	13,013	10,392	2,422	487	1,361	3,797
Net Interest Income	13,379	13,916	13,014	10,647	9,946	9,965
Net Interest Income Growth (YoY)	-5.76%	6.93%	22.23%	7.05%	-0.19%	2.51%
Trust Income	1,471	1,412	1,444	1,438	1,203	862
Mortgage Banking Activities	608	625	647	850	946	368
Gain (Loss) on Sale of Investments	256	-2	-7	64	369	48
Other Non-Interest Income	5,635	5,539	6,022	6,212	4,437	4,894
Total Non-Interest Income	7,970	7,574	8,106	8,564	6,955	6,874
Non-Interest Income Growth (YoY)	3.57%	-6.56%	-5.35%	23.13%	1.18%	6.26%
Revenues Before Loan Losses	21,349	21,490	21,120	19,211	16,901	16,839
Provision for Loan Losses	865	742	477	-779	3,175	773
Revenue	20,484	20,748	20,643	19,990	13,726	16,066
Revenue Growth (YoY)	-2.34%	0.51%	3.27%	45.64%	-14.56%	1.80%
Salaries and Employee Benefits	7,428	7,428	7,244	7,141	5,673	5,647
Selling, General & Administrative	2,700	2,743	2,742	2,670	2,238	2,345
Other Non-Interest Expense	3,964	3,841	3,184	3,191	2,386	2,582
Total Non-Interest Expense	14,092	14,012	13,170	13,002	10,297	10,574
EBT Excluding Unusual Items	6,392	6,736	7,473	6,988	3,429	5,492
Pretax Income	6,392	6,736	7,473	6,988	3,429	5,492
Income Tax Expense	1,183	1,089	1,360	1,263	426	901
Earnings From Continuing Operations	5,209	5,647	6,113	5,725	3,003	4,591
Earnings From Discontinued Operations	-	-	-	-	4,555	827
Minority Interest in Earnings	-66	-69	-72	-51	-41	-49
Net Income	5,143	5,578	6,041	5,674	7,517	5,369
Preferred Dividends & Other Adjustments	412	452	333	265	268	261
Net Income to Common	4,731	5,126	5,708	5,409	7,249	5,108
Net Income Growth	-17.61%	-7.66%	6.47%	-24.52%	40.01%	1.28%
Basic Shares Outstanding	400	401	412	426	427	447
Diluted Shares Outstanding	400	401	412	426	427	448
Shares Change (YoY)	-0.50%	-2.67%	-3.29%	-0.23%	-4.69%	-4.68%
EPS (Basic)	11.82	12.78	13.85	12.70	16.98	11.43
EPS (Diluted)	11.82	12.78	13.85	12.70	16.97	11.38
EPS Growth	-17.76%	-7.70%	9.08%	-25.19%	49.14%	6.31%
Dividend Per Share	6.250	6.100	5.750	4.800	4.600	4.200
Dividend Growth	3.31%	6.09%	19.79%	4.35%	9.52%	23.53%
Effective Tax Rate	18.51%	16.17%	18.20%	18.07%	12.42%	16.41%

Source: S&P Capital IQ. Banks template. Financial Sources.