Joining a host of other major banking companies that are trying to slim down, PNC Bank Corp. of Pittsburgh has begun a campaign to shave annual expenses by as much as 5%, or $200 million.

The $77.2 billion-asset company is relying on managers in each of its nine business lines to scour their operations and come up with cost-cutting plans, said spokesman Jonathan Williams.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.