PNC Expects Loan Growth After Fed's Rate Cut

PNC Financial Services Group said Tuesday (Oct. 15) that it is prepared for lending to pick up after the Federal Reserve cut interest rates in September. During the third quarter, which ended Sept. 30, the bank's average loans, credit quality performance and allowance for credit losses remained stable, according to a Tuesday earnings release. "CNIB [Corporate & Institutional Banking] continues to have great momentum as new loan production and commitments increased this quarter," William S. Demchak, presiden ...