Delinquencies Rise at PNC Amid Continued Impact From Hurricanes

PNC Financial Services Group Inc. reported a rise in delinquencies in the fourth quarter due to typical seasonality and continued residual impact from the hurricanes, the company reported in earnings today. Auto loans 30 to 59 days past due rose 55% year-over-year to $79 million, according to the report. Additionally, accruing loans 60 to 89 […]
  • Matthew Wood
  • January 12, 2018
  • 0

PNC Reports Rise in Delinquencies Due to Hurricanes

PNC Financial Services Group Inc. reported a “moderate impact” on auto delinquencies in the third quarter due to the recent hurricanes, according to the bank’s earnings call today. Auto loans 30 to 59 days past due rose 87% to $71 million from the same time the year prior. The increase was primarily due to higher delinquencies […]
  • Emma Sandler
  • October 13, 2017
  • 3

PNC Sees Continued Growth in Auto Portfolio

PNC Bank saw increases in its auto portfolio accompanied by an uptick in delinquencies and losses, according to the company’s second-quarter earnings report. Auto outstandings at the Pittsburgh-based bank grew to $12.4 billion, up 9% compared with the same period the year prior. The company does not report origination numbers. “Our credit box [for auto […]
  • William Hoffman
  • July 14, 2017
  • 1

Direct Lending Helps Grow PNC’s Auto Outstandings 10%

PNC Financial Services Group Inc.’s auto outstandings were up 10% to $12.3 billion, from $11.1 billion during the same quarter a year prior, the bank reported in its first-quarter earnings report. The Pittsburgh-based bank attributed some of the growth to its direct-lending product called Check Ready, during the company’s earnings call yesterday. Direct lending could actually “change the […]
  • William Hoffman
  • April 14, 2017
  • 0

PNC Grows Auto Portfolio by 11% YoY in 4Q Earnings

PNC Financial Services Group Inc. grew its auto outstandings by 11% year over year, the company disclosed in its fourth quarter earnings report. The Pittsburgh-based bank grew its auto portfolio to $12.38 billion in the fourth quarter up from $11.15 billion during the same period prior. Following industry trends, PNC saw an increase in delinquencies, […]
  • William Hoffman
  • January 17, 2017
  • 0

Direct Auto Online Platform Drives Growth in PNC’s Consumer Lending

PNC Bank’s direct auto lending practice is growing and could have the potential to “change the growth trajectory of consumer lending,” in the long term, CEO and President William Demchak said during Friday’s earnings call. The bank reported increased consumer lending across its multiple channels to the tune of $300 million through the end of […]
  • William Hoffman
  • October 17, 2016
  • 1

The Warning Against ‘Aggressive’ Underwriting Goes Alternative

Times are good for lenders, but will an interest rate hike, expected later this year, or an economic downturn, end the party? Not if lenders stick to a solid foundation of smart underwriting. That was the message at the LendItUSA conference, a gathering of the alternative lending community that drew more than 2,400 attendees to New York earlier this week.
  • Philip Ryan
  • April 17, 2015
  • 0

PNC Bank Is Scaling Back Its Auto Finance Business

PNC Financial Services Group, the nation’s 22nd-largest auto finance company, is “losing share in auto purposely.” That’s according to Chief Executive William Demchak, who told investors on the bank’s first-quarter earnings call yesterday that PNC was actively moving away from the auto finance business. The reason given was a lack of appetite for subprime. Total outstandings […]
  • Philip Ryan
  • April 16, 2015
  • 0

PNC Consumer Auto Loan Business Slowing

While PNC Bank saw growth in auto finance last quarter, that growth was slowed because of declining credit quality. “It jumped in the quarter and that’s largely a categorical anomaly,” said Robert Q. Reilly, the bank’s executive vice president and chief operating officer, told analysts during the bank’s recent earnings call. “Most of the jump relates actually to a commercial […]
  • Cody Lyon
  • October 20, 2014
  • 0

PNC Sees ‘Disciplined Growth’

Jeffrey Turley, president of dealer finance at PNC Financial Services Group Inc., is “pleased” with the unit’s second-quarter performance, he told Auto Finance News. “We have originated in excess of $12 billion in retail auto paper in the past two-and-a-half years from more than 3,000 franchised dealers, and our strategy continues to be focused on quality growth from loyal […]
  • Cody Lyon
  • August 7, 2014
  • 1
Page 1 of 212