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Home » PNC auto book declines for 5th straight quarter

PNC auto book declines for 5th straight quarter

ACL coverage dipped to 1.25%

Riley WolfbauerbyRiley Wolfbauer
September 18, 2024
in Earnings
Reading Time: 2 mins read
0
A PNC Bank branch in Round Rock, Texas

© 2023 Bloomberg Finance LP, Photographer: Sergio Flores/Bloomberg

PNC Financial’s auto outstandings fell year over year for the fifth consecutive quarter in Q2 amid weaker consumer demand for loans.  Outstandings totaled $15.1 billion at the end of the second quarter, an increase of 1.3% sequentially but down 1.3% YoY, according to the bank’s earnings supplement.  “Our appetite to lend and support our clients isn’t affected by […]

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