PNC Hikes Rates to Get Funds

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PNC Financial Services Group Inc. is one of the front-runners in the deposit race and said that being focused on rates has enabled it to lock in long-term funds, The American Banker said.

The strategy helped increase deposits in the first quarter but lowered the net interest margin, it added. (c) 2006 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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