PNC Financial Services Group (PNC Financial Services Group) Credit Losses Provision

: $761 Mil (As of Dec. 2023)

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PNC Financial Services Group's credit losses provision for the three months ended in Dec. 2023 was $244 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $761 Mil.

PNC Financial Services Group's quarterly credit losses provision declined from Jun. 2023 ($180 Mil) to Sep. 2023 ($130 Mil) but then increased from Sep. 2023 ($130 Mil) to Dec. 2023 ($244 Mil).

PNC Financial Services Group's annual credit losses provision increased from Dec. 2021 ($-779 Mil) to Dec. 2022 ($471 Mil) and increased from Dec. 2022 ($471 Mil) to Dec. 2023 ($761 Mil).

PNC Financial Services Group Credit Losses Provision Historical Data

The historical data trend for PNC Financial Services Group's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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PNC Financial Services Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

773.00

3,175.00

-779.00

471.00

761.00

PNC Financial Services Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision																392.00	207.00	180.00	130.00	244.00

PNC Financial Services Group Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $761 Mil.

PNC Financial Services Group (PNC Financial Services Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » PNC Financial Services Group Inc (NYSE:PNC) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

PNC:Mexico PNP:Germany

Address

300 Fifth Avenue, The Tower at PNC Plaza, Pittsburgh, PA, USA, 15222-2401

Website

https://www.pnc.com

PNC Financial Services Group is a diversified financial services company offering retail banking, corporate and institutional banking, asset management, and residential mortgage banking across the United States.

Executives

Guild Deborah	officer: Executive Vice President	847 PERSIMMON ROAD, SEWICKLEY PA 15143
Bryan Scott Salesky	director	2545 RAILROAD ST, SUITE 400, PITTSBURGH PA 15222
Joseph Alvarado	director	705 N. BAR Y ROAD, P.O. BOX 11368, JACKSON WY 83002
Kieran John Fallon	officer: Executive Vice President	17160 SPRING CREEK LANE, LEESBURG VA 20176
Michael P. Lyons	officer: Executive Vice President	249 FIFTH AVENUE, 1PNC, PITTSBURGH PA 15222
William S Demchak	officer: Vice Chairman and CFO	THE TOWER AT PNC PLAZA, 300 FIFTH AVENUE, PITTSBURGH PA 15222-2707
Overstrom Alexander E. C.	officer: Executive Vice President	643 PITCAIRN PLACE, PITTSBURGH PA 15232
Renu Khator	director	11 GREENWAY PLAZA, SUITE 2400, HOUSTON TX 77046
Robert A Niblock	director	1605 CURTIS BRIDGE ROAD, WILKESBORO NC 28697
Martin Pfinsgraff	director	354 KINGSBERRY DRIVE, ANNAPOLIS MD 21409
Michael J Hannon	officer: Chief Credit Policy Officer	249 FIFTH AVE, P1-POPP-30-1, PITTSBURGH PA 15222
Karen L. Larrimer	officer: Executive Vice President	ONE PNC PLAZA, 249 FIFTH AVENUE, PITTSBURGH PA 15222-2707
Ganesh Manapra Krishnan	officer: Executive Vice President	6416 INTERLAKEN DR, MCDONALD PA 15057
David L Cohen	director
Richard Kevin Bynum	officer: Executive Vice President	7567 GLEN POINTE CT., SPRINGFIELD VA 22153