PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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Provision for (Recapture of) Credit Losses
Table 6: Provision for (Recapture of) Credit Losses
| Year ended December 31 | ||
|---|---|---|
| Dollars in millions | 2024 | 2023 |
| Provision for (recapture of) credit losses | ||
| Loans and leases | $741 | $792 |
| Unfunded lending related commitments | 56 | (31) |
| Investment securities | (10) | (18) |
| Other financial assets | 2 | (1) |
| Total provision for (recapture of) credit losses | $789 | $742 |
Provision for credit losses is driven by net charge-offs and changes to the ACL. The provision for credit losses was $789 million in 2024 reflecting the impact of net charge-offs, primarily in our commercial real estate, commercial and industrial and credit card loan classes, and a net decline in the ACL due to improved macroeconomic factors and portfolio activity.
The PNC Financial Services Group, Inc. –2024 Form 10-K 43
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