PNC Reports 2% Commercial Loan Dip Amid Manufacturer ‘Hesitancy'

PNC Financial Services Group saw average commercial loans dip in the first quarter as businesses remained cautious about the macroeconomic environment.Overall, average loans decreased 1%. Within this, consumer loans declined less than 1%, while average commercial loans decreased 2%, the bank said in a Tuesday (April 16) earnings release.The slight decline in consumer loans was driven by lower credit card and home equity balances, according to the release. The bank attributed the decline in commercial loans ...