PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2025. Filed May 2, 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.
Mar 31, 2025 · Filed May 2, 2025
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Provision for Credit Losses
Table 6: Provision for (Recapture of) Credit Losses
| Three months ended · Three months ended | ||||||
|---|---|---|---|---|---|---|
| March 31 | December 31 | Change | March 31 | March 31 | Change | |
| Dollars in millions | 2025 | 2024 | $ | 2025 | 2024 | $ |
| Provision for (recapture of) credit losses | ||||||
| Loans and leases | $260 | $155 | $105 | $260 | $147 | $113 |
| Unfunded lending related commitments | (46) | (5) | (41) | (46) | 9 | (55) |
| Investment securities | 3 | — | 3 | 3 | 1 | 2 |
| Other financial assets | 2 | 6 | (4) | 2 | (2) | 4 |
| Total provision for credit losses | $219 | $156 | $63 | $219 | $155 | $64 |
The provision for credit losses for the first quarter of 2025 was driven by net charge-offs, primarily in our commercial and industrial and credit card loan classes, and a net increase in the ACL due to changes in macroeconomic factors and portfolio activity.
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