PNC FINANCIAL SERVICES GROUP INC
For the period ended Jun 30, 2024. Filed Aug 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.
Jun 30, 2024 · Filed Aug 2, 2024
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Provision for Credit Losses
Table 6: Provision for Credit Losses
| Three months ended · Six months ended | ||||||
|---|---|---|---|---|---|---|
| June 30 | March 31 | Change | June 30 | June 30 | Change | |
| Dollars in millions | 2024 | 2024 | $ | 2024 | 2023 | $ |
| Provision for (recapture of) credit losses | ||||||
| Loans and leases | $204 | $147 | $57 | $351 | $418 | $(67) |
| Unfunded lending related commitments | 45 | 9 | 36 | 54 | (31) | 85 |
| Investment securities | (11) | 1 | (12) | (10) | (1) | (9) |
| Other financial assets | (3) | (2) | (1) | (5) | (5) | |
| Total provision for credit losses | $235 | $155 | $80 | $390 | $381 | $9 |
The PNC Financial Services Group, Inc. –Form 10-Q 9
Provision for credit losses of $235 million in the second quarter of 2024 primarily reflected the impact of portfolio activity. Provision for credit losses of $390 million for the first six months of 2024 reflected the impact of portfolio activity and improved macroeconomic factors.
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