PNC Probability of Bankruptcy | PNC Financial Services Group Inc (PNC) (2024)

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PNC Probability of Bankruptcy | PNC Financial Services Group Inc (PNC)? ›

The Probability of Bankruptcy of PNC Financial Services Group Inc (PNC) is 5.4% . This number represents the probability that PNC will face financial distress in the next 24 months given its current fundamentals and market conditions.

PNC Bank has several ways to deposit and earn interest on cash. This includes CD, checking, savings and money market accounts. All deposit products are insured by the Federal Deposit Insurance Corp. (FDIC) for up to $250,000 per depositor, per account ownership category.

Stocks . USA . PNC Financial's odds of distress is under 6% at the present time. It has tiny probability of undergoing some form of financial straits in the near future.

Fitch Ratings - New York - 16 Oct 2023: Fitch Ratings has affirmed PNC Financial Services Group, Inc.'s (PNC) and its primary operating subsidiary PNC Bank, NA's (PNCBNA) Long-Term (LT) and Short-Term (ST) Issuer Default Ratings (IDRs) at 'A+'/'F1'. The Rating Outlook is Stable on the long-term IDRs.

PNC reported first-quarter net income of $1.3 billion, down 21% from a year earlier. It posted earnings per share of $3.10 per share, down from $3.98 in the first quarter of 2023. A $130 million pretax Federal Deposit Insurance Corp. special assessment impacted the bank's earnings.

That makes it dramatically smaller than the Big Four banks that are informally labeled “too big to fail” and formally classified as Global Systemically Important Banks (GSIBs). But PNC is still big enough that almost none of the thousands of banks in America could buy it in the event of a failure.

Weaknesses. Declining Loan Portfolio: PNC's loan portfolio has experienced a 3% decline, particularly in the commercial and industrial loans segment. This contraction could signal a potential weakness in PNC's lending business, possibly due to competitive pressures or a shift in market demand.

PNC Financial Services Long Term Debt 2010-2024 | PNC

PNC Financial Services long term debt for 2023 was $72.737B, a 23.89% increase from 2022. PNC Financial Services long term debt for 2022 was $58.713B, a 90.73% increase from 2021.

PNC Bank is a subsidiary of The PNC Financial Services Group, Inc., a U.S.-based bank holding company headquartered in Pittsburgh, Pennsylvania, and founded in 1845. PNC Bank has been a subsidiary of The PNC Financial Services Group, Inc.

Who is PNC suited for? PNC is best for consumers who want to find one bank for all of their financial accounts and who live or work near a local branch. It's also a good option if you live in a state that has access to its high-yield savings account.

Where does PNC rank in banking? ›

If access to bank branches is important to you, Chase has more than double what PNC Bank has. Chase also offers better CD rates. However, PNC Bank's Virtual Wallet helps you manage your spending, set money aside for short-term goals, and grow your savings.

PNC Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The Federal Deposit Insurance Corporation (FDIC) is a federal agency organized in 1933 that insures depositors' accounts up to the insured amount at most commercial banks and savings associations.

Strengths. Robust Acquisition Strategy and Market Expansion: PNC's acquisition of BBVA USA Bancshares, Inc. has significantly bolstered its market presence, adding over 600 branches and approximately 2.6 million customers.

PNC Financial Services CEO William Demchak tells financial analysts PNC Bank is going to "'change the world" and "remove tellers so that we have more automation."

PNC is best for consumers who want to find one bank for all of their financial accounts and who live or work near a local branch. It's also a good option if you live in a state that has access to its high-yield savings account.

JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.

Financial Condition: Fitch maintains Long-Term (LT) and Short-Term (ST) Issuer Default Ratings (IDRs) for PNC Financial Services Group Inc. and its primary operating subsidiary, PNC Bank, N.A., of 'A+'/'F1' with a Stable Rating Outlook.