PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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Business Segment Results
Table 118: Business Segment Results
| Retail Banking | Corporate & Institutional Banking | Asset Management Group | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Year ended December 31In millions | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | 2025 | 2024 | 2023 |
| Net interest income (a)(b) | $11,815 | $10,965 | $9,988 | $6,886 | $6,302 | $5,732 | $709 | $613 | $514 |
| Noninterest income | 3,048 | 3,582 | 2,951 | 4,342 | 3,927 | 3,537 | 1,001 | 949 | 905 |
| Total revenue (a)(b) | 14,863 | 14,547 | 12,939 | 11,228 | 10,229 | 9,269 | 1,710 | 1,562 | 1,419 |
| Provision for (recapture of) credit losses | 532 | 362 | 396 | 291 | 453 | 398 | (19) | (3) | (3) |
| Noninterest expense (c) | |||||||||
| Personnel | 2,141 | 2,149 | 2,227 | 1,621 | 1,508 | 1,426 | 471 | 472 | 494 |
| Segment allocations (d) | 3,944 | 3,774 | 3,692 | 1,573 | 1,497 | 1,507 | 488 | 454 | 464 |
| Depreciation and amortization | 365 | 300 | 321 | 201 | 202 | 211 | 38 | 30 | 30 |
| Other (e) | 1,260 | 1,307 | 1,315 | 594 | 557 | 586 | 116 | 117 | 127 |
| Total noninterest expense | 7,710 | 7,530 | 7,555 | 3,989 | 3,764 | 3,730 | 1,113 | 1,073 | 1,115 |
| Income before income taxes and noncontrolling interests (a)(b) | 6,621 | 6,655 | 4,988 | 6,948 | 6,012 | 5,141 | 616 | 492 | 307 |
| Income taxes (a)(b) | 1,541 | 1,553 | 1,166 | 1,482 | 1,264 | 1,073 | 144 | 116 | 73 |
| Net income (a)(b) | 5,080 | 5,102 | 3,822 | 5,466 | 4,748 | 4,068 | 472 | 376 | 234 |
| Less: Net income attributable to noncontrolling interests | 35 | 39 | 43 | 20 | 19 | 19 | — | — | — |
| Net income excluding noncontrolling interests (a)(b) | $5,045 | $5,063 | $3,779 | $5,446 | $4,729 | $4,049 | $472 | $376 | $234 |
| Average assets (a) | $114,263 | $116,842 | $116,738 | $235,289 | $228,349 | $233,337 | $14,548 | $14,644 | $13,975 |
(a)During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.
(b)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation.
(c)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation.
(d)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.
(e)Other is primarily comprised of other direct expenses including outside services and equipment expense.
The PNC Financial Services Group, Inc. –2025 Form 10-K 173
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