The company said net income for Q4 2023 was $0.9 billion, diluted earnings per share were $1.85, and adjusted diluted earnings per share, excluding the after-tax impact of the FDIC special assessment and workforce reduction charges of $525 million, were $3.16.

1. 01

   The company said net income for Q4 2023 was $0.9 billion, diluted earnings per share were $1.85, and adjusted diluted earnings per share, excluding the after-tax impact of the FDIC special assessment and workforce reduction charges of $525 million, were $3.16.

2. 02

   The company reported that net income for the full year 2023 was $5,647 million, down from $6,113 million in 2022, and that full-year revenue was $21,490 million, up from $21,120 million in 2022.

3. 03

   PNC said noninterest expense for Q4 2023 was $4.1 billion, up $829 million from the prior quarter, and included the FDIC special assessment of $515 million and workforce reduction charges of $150 million. Excluding these items, core noninterest expense was $3.4 billion.

4. 04

   The company said its estimated CET1 capital ratio was 9.9% as of December 31, 2023, average loans for Q4 were $324.6 billion, net loan charge-offs were $200 million, and the allowance for credit losses to total loans was 1.70%.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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