Overview

• PNC recorded 2% quarter-over-quarter average loan growth in Q2, marking its strongest increase since the end of 2022.
• A 4% rise in commercial and industrial lending added about $6.1 billion in outstanding loans during the quarter.
• The bank reported $3.85 in diluted earnings per share, surpassing the consensus forecast of $3.55.
• PNC raised its full-year loan growth outlook to a 1% increase and affirmed expectations for roughly 7% net interest income growth alongside 4%–5% noninterest income expansion.
• CFO Robert Q. Reilly said part of the loan uptick reflected tariff-related factors and cautioned that prolonged trade tensions could temper future growth.