PNC PNC Financial Services Group (PNC) Q1 FY25 earnings call
The PNC Financial Services Group delivered a strong first quarter, marked by solid earnings and balance sheet growth despite increased market volatility and tariff uncertainty. The company achieved positive operating leverage and remains on track for record net interest income for the full year, supported by disciplined expense management and expanding net interest margin. Management is actively monitoring the evolving economic landscape while continuing to focus on organic growth and capital returns.
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PNC operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | This call Mar 2025 Q1 FY25 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Common equity tier 1 ratio (CET1) | 10.5%We remain well capitalized with an estimated CET1 ratio of 10.5% as of December 31.Source: earnings call transcript | 10.6%We remain well capitalized with an estimated CET1 ratio of 10.6% as of March 31.Source: earnings call transcript | 9.9%And we remain well capitalized with an estimated CET1 ratio of 9.9%.Source: earnings call transcript | 9.8%We remain well capitalized with an estimated CET1 ratio of 9.8%.Source: earnings call transcript | -0.1 pt |
| Net interest margin | 2.75%Net interest income grew by $113 million or 3%, and our net interest margin was 2.75%, an increase of 11 basis points.Source: earnings call transcript | 2.78%And our net interest margin was 2.78%, an increase of 3 basis points.Source: earnings call transcript | 2.96%Our net interest margin was 2.96%, an increase of 1 basis point.Source: earnings call transcript | 2.94%Our net interest margin was 2.94% and decreased 2 basis points.Source: earnings call transcript | 0 pt |
| Return on tangible common equity (ROTCE) | — | — | 17.9%Our tangible book value was $111 per common share, up 2% linked-quarter and up 7% compared with the same period a year ago, and our return on tangible common equity at 17.9% in the second quarter.Source: earnings call transcript | 18%+And our return on tangible common equity was more than 18% in the third quarter.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.