Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Results of our reportable business segments for the three and nine months ended September 30, 2025 and 2024 are as follows:

Table 79: Business Segment Results


	Retail Banking				Corporate & Institutional Banking				Asset Management Group
In millions	2025		2024		2025		2024		2025		2024
Three months ended September 30
Net interest income (a)(b)	$	3,016	$	2,793	$	1,752	$	1,588	$	176	$	151
Noninterest income	790		701		1,132		1,030		254		242
Total revenue (a)(b)	3,806		3,494		2,884		2,618		430		393
Provision for (recapture of) credit losses	126		111		44		134		4		(2)
Noninterest expense (c)
Personnel	529		539		403		393		115		120
Segment allocations (d)	979		930		387		371		120		114
Depreciation and amortization	97		75		46		50		9		6
Other (e)	336		298		140		136		29		30
Total noninterest expense	1,941		1,842		976		950		273		270
Income before income taxes and noncontrolling interests (a)(b)	1,739		1,541		1,864		1,534		153		125
Income taxes (a)(b)	406		360		400		332		36		29
Net income (a)(b)	1,333		1,181		1,464		1,202		117		96
Less: Net income attributable to noncontrolling interests	9		9		5		5		—		—
Net income excluding noncontrolling interests (a)(b)	$	1,324	$	1,172	$	1,459	$	1,197	$	117	$	96
Average Assets (a)	$	114,146	$	116,477	$	238,338	$	227,277	$	14,575	$	14,690

Nine months ended September 30
Net interest income (a)(b)	$	8,826	$	8,131	$	5,055	$	4,639	$	529	$	452
Noninterest income	2,278		2,874		3,132		2,860		741		707
Total revenue (a)(b)	11,104		11,005		8,187		7,499		1,270		1,159
Provision for (recapture of) credit losses	377		256		277		409		(8)		(5)
Noninterest expense (c)
Personnel	1,606		1,613		1,149		1,107		351		356
Segment allocations (d)	2,924		2,797		1,151		1,111		355		331
Depreciation and amortization	270		228		146		151		27		22
Other (e)	933		882		436		414		87		87
Total noninterest expense	5,733		5,520		2,882		2,783		820		796
Income before income taxes and noncontrolling interests (a)(b)	4,994		5,229		5,028		4,307		458		368
Income taxes (a)(b)	1,162		1,221		1,082		928		107		87
Net income (a)(b)	3,832		4,008		3,946		3,379		351		281
Less: Net income attributable to noncontrolling interests	28		28		14		15		—		—
Net income excluding noncontrolling interests (a)(b)	$	3,804	$	3,980	$	3,932	$	3,364	$	351	$	281
Average Assets (a)	$	114,447	$	116,728	$	233,307	$	228,518	$	14,562	$	14,667

(a)During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.

(b)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation.

(c)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation.

(d)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.

(e)Other is primarily comprised of other direct expenses including outside services and equipment expense.

The following table represents reconciliations of financial results for the three reportable segments to our consolidated reporting.

Table 80: Reconciliation of Business Segment Results to Consolidated


	Three months ended September 30				Nine months ended September 30
In millions	2025		2024		2025		2024
Revenues
Total business segment revenue (a)	$	7,120	$	6,505	$	20,561	$	19,663
Revenues from other activities (a)	(1,205)		(1,073)		(3,533)		(3,675)
Total revenue	$	5,915	$	5,432	$	17,028	$	15,988
Noninterest Expense
Total business segment noninterest expense (b)	$	3,190	$	3,062	$	9,435	$	9,099
FDIC special assessment	(48)		—		(48)		130
PNC Foundation Contribution	—		—		—		120
Noninterest expense from other activities (b)	319		265		844		669
Total noninterest expense	$	3,461	$	3,327	$	10,231	$	10,018
Net Income
Total business segment net income (a)	$	2,914	$	2,479	$	8,129	$	7,668
FDIC special assessment	48		—		48		(130)
PNC Foundation Contribution	—		—		—		(120)
Net income (loss) from other activities (a)	(1,140)		(974)		(3,213)		(3,092)
Net income	$	1,822	$	1,505	$	4,964	$	4,326
Average Assets
Total business segment average assets	$	367,059	$	358,444	$	362,316	$	359,913
Average assets from other activities	204,474		211,069		200,988		205,233
Total average assets	$	571,533	$	569,513	$	563,304	$	565,146

(a)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation.

(b)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation.