Pnc reports second quarter 2025 net income of $1.6 billion, $3.85 diluted eps

Strong loan growth; 4% positive operating leverage; stable credit quality quarterly common stock dividend increased 10 cents to $1.70 per share on july 3, 2025 pittsburgh , july 16, 2025 /prnewswire/ -- the pnc financial services group, inc. (nyse: pnc) today reported: for the quarter in millions, except per share data and as noted 2q25 1q25 2q24 second quarter highlights financial results comparisons reflect 2q25 vs. 1q25 net interest income (nii) $    3,555 $    3,476 $    3,302               income statement ▪   generated 4% positive operating      leverage; ppnr increased 10% ▪   revenue increased 4% –  nii increased 2%; nim expanded     2 bps to 2.80% –  fee income increased 3% –  other noninterest income of $212     million ▪   noninterest expense was stable –  efficiency ratio improved to 60%                   balance sheet ▪   average loans increased $6.1 billion,     or 2%, driven by 4% growth in     commercial and industrial loans ▪   average deposits grew $2.3 billion ▪   net loan charge-offs were $198     million, or 0.25% annualized to     average loans ▪   aoci improved $0.6 billion to     negative $4.7 billion ▪   tbv per share increased 4% to     $103.96 ▪   maintained strong capital position –  cet1 capital ratio of 10.5% –  returned $1 billion of capital     through common dividends and     share repurchases –  strong federal reserve stress test     results; stress capital buffer will     remain at the regulatory minimum     of 2.5% fee income (non-gaap) 1,894 1,839 1,777 other noninterest income 212 137 332 noninterest income 2,106 1,976 2,109 revenue 5,661 5,452 5,411 noninterest expense 3,383 3,387 3,357 pretax, pre-provision earnings (ppnr) (non-gaap) 2,278 2,065 2,054 provision for credit losses 254 219 235 net income 1,643 1,499 1,477 per common share diluted earnings per share (eps) $      3.85 $      3.51 $      3.39 average diluted common shares outstanding 397 398 400 book value 131.61 127.98 116.70 tangible book value (tbv) (non-gaap) 103.96 100.40 89.12 balance sheet & credit quality average loans    in billions $    322.8 $    316.6 $    319.9 average securities    in billions 141.9 142.2 141.3 average deposits    in billions 423.0 420.6 417.2 accumulated other comprehensive income (loss) (aoci) in billions (4.7) (5.2) (7.4) net loan charge-offs 198 205 262 allowance for credit losses to total loans 1.62 % 1.64 % 1.67 % selected ratios return on average common shareholders' equity 12.20 % 11.60 % 12.16 % return on average assets 1.17 1.09 1.05 net interest margin (nim) (non-gaap) 2.80 2.78 2.60 noninterest income to total revenue 37 36 39 efficiency 60 62 62 effective tax rate 18.8 18.8 18.8 common equity tier 1 (cet1) capital ratio 10.5 10.6 10.2 see non-gaap financial measures in the consolidated financial highlights accompanying this release.
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