PNC pumps up allowance for credit losses amid reduced delinquencies

PNC eyes footprint expansion with BBVA acquisition

Photographer: Christopher Dilts/Bloomberg

PNC Financial Services is ratcheting up its allowance for credit losses amid the industrywide trend of dwindling delinquency rates in the first half of 2020, the company announced in its earnings call today. PNC bumped up its ACL on auto accounts by 60 basis points (bps) in the second quarter to 2.79% of total outstandings, […]

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