NEW YORK — The chairman and chief executive of PNC Financial Services Group Inc. said Tuesday his bank will re-pay its $7.6 billion in Tarp funds within the next 15 months.
"I am confident of that," James Rohr, head of the Pittsburgh-based regional bank, said in an interview with cable business channel CNBC.
Rohr said in late October that PNC "could" re-pay the billions in public support it accepted last year within the next fifteen months.
But Tuesday's comments mark a subtle shift in tone for Rohr, who has said repeatedly his bank won't rush to re-pay the funds in any manner that significantly hurts shareholders. Other banks have raised billions in fresh capital, which dilutes existing investors' stakes, in order to re-pay the funds more quickly.