PNC Financial Services Group in Pittsburgh reported higher third-quarter profit on an increase in fee income and loan growth.
Net income rose 1% to $1.04 billion, or $1.79 per share, from a year earlier. That was 9 cents better than the average per-share estimate of analysts polled by Bloomberg.
Revenue fell 2% to $3.8 billion, as net interest income fell 6% to $2.1 billion on lower yields from earning assets, lower balances of investment securities and an increase in liquidity.
Noninterest income rose 3% to $1.7 billion, on increases in fees from asset management, corporate services and deposit service charges.
Total assets rose 8.4% to $334.4 billion. Total loans rose 4% to $200.9 billion.