v3.25.2
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Results of Businesses
Results of our reportable business segments for the three and six months ended June 30, 2025 and 2024 are as follows:
Table 81: Business Segment Results

Retail BankingCorporate & Institutional BankingAsset Management Group
In millions202520242025202420252024
Three months ended June 30
Net interest income (a)(b)$2,976 $2,715 $1,675 $1,531 $179 $153 
Noninterest income782 1,409 1,022 942 244 235 
Total revenue (a)(b)3,758 4,124 2,697 2,473 423 388 
Provision for (recapture of) credit losses83 27 184 228 (13)2 
Noninterest expense (c)
Personnel539 533 370 348 115 115 
Segment allocations (d)978 940 381 374 118 110 
Depreciation and amortization87 77 49 51 10 9 
Other (e)286 291 150 138 25 27 
Total noninterest expense1,890 1,841 950 911 268 261 
Income before income taxes and noncontrolling interests (a)(b)1,785 2,256 1,563 1,334 168 125 
Income taxes (a)(b)416 526 329 283 39 30 
Net income (a)(b)1,369 1,730 1,234 1,051 129 95 
Less: Net income attributable to noncontrolling interests101155— — 
Net income excluding noncontrolling interests (a)(b)$1,359 $1,719 $1,229 $1,046 $129 $95 
Average Assets (a)$114,061 $117,322 $234,391 $229,604 $14,629 $14,779 
Six months ended June 30
Net interest income (a)(b)$5,812 $5,338 $3,303 $3,051 $353 $301 
Noninterest income1,488 2,173 2,000 1,830 487 465 
Total revenue (a)(b)7,300 7,511 5,303 4,881 840 766 
Provision for (recapture of) credit losses251 145 233 275 (12)(3)
Noninterest expense (c)
Personnel1,077 1,074 746 714 236 236 
Segment allocations (d)1,945 1,867 764 740 235 217 
Depreciation and amortization173 153 100 101 18 16 
Other (e)597 584 296 278 58 57 
Total noninterest expense3,792 3,678 1,906 1,833 547 526 
Income before income taxes and noncontrolling interests (a)(b)3,257 3,688 3,164 2,773 305 243 
Income taxes (a)(b)758 861 682 596 71 58 
Net income (a)(b)2,499 2,827 2,482 2,177 234 185 
Less: Net income attributable to noncontrolling interests1919910— — 
Net income excluding noncontrolling interests (a)(b)$2,480 $2,808 $2,473 $2,167 $234 $185 
Average Assets (a)$114,601 $116,856 $230,750 $229,151 $14,556 $14,654 
(a)During the second quarter of 2025, certain loans and deposits, and the associated income statement impact, were transferred from the Asset Management Group to Retail Banking to better align products and services with the appropriate business segment. Prior periods have been adjusted to conform with the current presentation.
(b)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation.
(c)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation.
(d)Represents expense allocations for corporate overhead services used by each business segment; primarily comprised of technology, human resources and occupancy-related allocations.
(e)Other is primarily comprised of other direct expenses including outside services and equipment expense.
The following table represents reconciliations of financial results for the three reportable segments to our consolidated reporting.
Table 82: Reconciliation of Business Segment Results to Consolidated

Three months ended June 30Six months ended June 30
In millions2025202420252024
Revenues
Total business segment revenue (a)$6,878 $6,985 $13,443 $13,158 
Revenues from other activities (a)(1,217)(1,574)(2,330)(2,602)
Total revenue$5,661 $5,411 $11,113 $10,556 
Noninterest Expense
Total business segment noninterest expense (b)$3,108 $3,013 $6,245 $6,037 
FDIC special assessment — — — 130 
PNC Foundation Contribution — 120 — 120 
Noninterest expense from other activities (b)275 224 525 404 
Total noninterest expense$3,383 $3,357 $6,770 $6,691 
Net Income
Total business segment net income (a)$2,732 $2,876 $5,215 $5,189 
FDIC special assessment — — — (130)
PNC Foundation Contribution — (120)— (120)
Net income (loss) from other activities (a)(1,089)(1,279)(2,073)(2,118)
Net income$1,643 $1,477 $3,142 $2,821 
Average Assets
Total business segment average assets $363,081 $361,705 $359,907 $360,661 
Average assets from other activities198,605 201,325 199,139 202,278 
Total average assets $561,686 $563,030 $559,046 $562,939 
(a)During the second quarter of 2025, brokered time deposits, and the associated income statement impact, were reclassified from Retail Banking to other activities, reflecting their use for asset and liability management. Prior periods have been adjusted to conform with the current presentation.
(b)As a result of an organizational realignment, certain expenses were reclassified as corporate operations and were moved from Retail Banking to other activities during the second quarter of 2025. Prior periods have been adjusted to conform with the current presentation.