PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Jun 30, 2025. Filed Aug 1, 2025.
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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, 2025 · Filed Aug 1, 2025
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Noninterest Expense
Table 5: Noninterest Expense
| Three months ended · Six months ended | ||||||||
|---|---|---|---|---|---|---|---|---|
| June 30 · March 31 · Change · June 30 · June 30 · Change | ||||||||
| Dollars in millions | 2025 | 2025 | $ | % | 2025 | 2024 | $ | % |
| Noninterest expense | ||||||||
| Personnel | $1,889 | $1,890 | $(1) | —% | $3,779 | $3,576 | $203 | 6% |
| Occupancy | 235 | 245 | (10) | (4)% | 480 | 480 | — | —% |
| Equipment | 394 | 384 | 10 | 3% | 778 | 697 | 81 | 12% |
| Marketing | 99 | 85 | 14 | 16% | 184 | 157 | 27 | 17% |
| Other | 766 | 783 | (17) | (2)% | 1,549 | 1,781 | (232) | (13)% |
| Total noninterest expense | $3,383 | $3,387 | $(4) | —% | $6,770 | $6,691 | $79 | 1% |
Noninterest expense was stable compared to the first quarter of 2025, reflecting a continued focus on expense management, partially offset by seasonally higher marketing spend and expenses related to continued technology investment. Noninterest expense increased compared to the first six months of 2024, due to higher expenses related to personnel and technology investments as well as increased marketing spend, partially offset by other noninterest expense. Other noninterest expense included $120 million of significant items in the second quarter of 2024 as well as a $130 million pre-tax expense in the first quarter of 2024 related to the FDIC’s special assessment.
Effective Income Tax Rate
The effective income tax rate was 18.8% for both the second and first quarters of 2025, and for the first six months of 2025 and 2024.
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