PNC Expects 2Q Loan-Loss Provision Between $125 Million and $200 Million
April 12 2019 - 9:09AM
Dow Jones News
By Allison Prang
PNC Financial Services Inc. (PNC) expects its loan-loss
provision to be between $125 million and $200 million in the second
quarter after the company reported a substantial increase in the
metric for the three-month period that ended in March.
PNC had a credit-loss provision of $189 million in its first
quarter. That was up from $92 million for the comparable quarter a
year prior.
PNC said it expects net interest income to rise in the low
single digits in the second quarter compared with the
first-quarter. It expects fee income to increase in the mid-single
digits and for other noninterest income to be between $275 million
and $325 million, it said.
Compared with the first quarter, PNC expects average loans to
increase by about 1%. It expects noninterest expense to increase in
the low single digits.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
April 12, 2019 08:54 ET (12:54 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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