PNC Financial fourth-quarter profit rises 2per cent

PNC Financial fourth-quarter profit rises 2per cent

U.S. regional bank PNC Financial Services Group Inc posted a 2.2per cent rise in fourth-quarter profit on Wednesday, helped by growth in its loan portfolio.

A PNC Bank branch is shown in Charlotte
FILE PHOTO: A PNC Bank branch is shown in Charlotte, North Carolina April 18, 2012. REUTERS/Chris Keane

REUTERS: U.S. regional bank PNC Financial Services Group Inc posted a 2.2per cent rise in fourth-quarter profit on Wednesday, helped by growth in its loan portfolio.

The Pittsburgh, Pennsylvania-based bank's net income attributable to common shareholders rose to US$1.30 billion, or US$2.97 per share, in the quarter ended Dec. 31, from US$1.27 billion, or US$2.75 per share, a year earlier.

Total revenue rose 6.2per cent to US$4.61 billion.

(Reporting by Abhishek Manikandan in Bengaluru; Editing by Aditya Soni)

Source: Reuters

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