PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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Allowance for Credit Losses by Loan Class
The following table summarizes our ACL related to loans:
Table 24: Allowance for Credit Losses by Loan Class (a)
| March 31, 2024 · December 31, 2023 | |||||||
|---|---|---|---|---|---|---|---|
| Dollars in millions · Allowance Amount · Total Loans · % of Total Loans · Allowance Amount · Total Loans · % of Total Loans | |||||||
| Allowance for loans and lease losses | |||||||
| Commercial | |||||||
| Commercial and industrial | $1,673 | $176,792 | 0.95% | $1,806 | $177,580 | 1.02% | |
| Commercial real estate | 1,468 | 35,591 | 4.12% | 1,371 | 35,436 | 3.87% | |
| Equipment lease financing | 76 | 6,462 | 1.18% | 82 | 6,542 | 1.25% | |
| Total commercial | 3,217 | 218,845 | 1.47% | 3,259 | 219,558 | 1.48% | |
| Consumer | |||||||
| Residential real estate | 39 | 47,386 | 0.08% | 61 | 47,544 | 0.13% | |
| Home equity | 272 | 25,896 | 1.05% | 276 | 26,150 | 1.06% | |
| Automobile | 173 | 14,788 | 1.17% | 173 | 14,860 | 1.16% | |
| Credit card | 749 | 6,887 | 10.88% | 766 | 7,180 | 10.67% | |
| Education | 56 | 1,859 | 3.01% | 56 | 1,945 | 2.88% | |
| Other consumer | 187 | 4,120 | 4.54% | 200 | 4,271 | 4.68% | |
| Total consumer | 1,476 | 100,936 | 1.46% | 1,532 | 101,950 | 1.50% | |
| Total | 4,693 | $319,781 | 1.47% | 4,791 | $321,508 | 1.49% | |
| Allowance for unfunded lending related commitments | 672 | 663 | |||||
| Allowance for credit losses | $5,365 | $5,454 | |||||
| Allowance for credit losses to total loans | 1.68% | 1.70% | |||||
| Commercial | 1.71% | 1.73% | |||||
| Consumer | 1.60% | 1.62% | |||||
(a) Excludes allowances for investment securities and other financial assets, which together totaled $117 million and $120 million at March 31, 2024 and December 31, 2023, respectively.
26 The PNC Financial Services Group, Inc. –Form 10-Q
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