PNC Financial raises annual interest income forecast

PNC raised its annual interest income forecast to 14.5 percent after strong loan growth. Lower rates and a recent acquisition helped drive quarterly profits.

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PNC FINANCIAL SERVICES GROUP has upgraded its annual interest income forecast following a period of robust loan expansion across the United States. The bank reported that a favorable interest rate environment has encouraged increased borrowing activity, driving significant growth in its credit portfolio during the first quarter.

The logo of PNC Bank, a subsidiary of PNC Financial Services Group, is seen above a branch in Washington, D.C. REUTERS/Ashraf Fahim
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