PNC Offers Mixed Picture on Consumer, Business Credit

Core Insights - PNC Financial Services reported mixed results in its retail and corporate banking units, indicating a cautious approach towards consumer credit while showing confidence in corporate lending [1][2]. Retail Banking Unit - The provision for credit losses in the retail banking unit was $126 million for Q3, which is an increase of $43 million from Q2 and up $15 million compared to Q3 of 2024 [2]. Corporate and Institutional Banking Unit - The provision for credit losses in the corporate and institutional banking unit was $44 million for Q3, down $140 million from Q2 and down $90 million from Q3 of 2024 [2].