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PNC Financial's profit rises 14.1 pct on higher interest rates
October 13, 2017 / 10:49 AM / 11 days ago

PNC Financial's profit rises 14.1 pct on higher interest rates

Oct 13 (Reuters) - Regional lender PNC Financial Services Group Inc, the sixth-largest U.S. bank by assets, reported a 14.1 percent rise in quarterly profit on Friday as the bank’s interest income benefited from rate hikes by the Federal Reserve.

The Pennslyvania-based bank said net income attributable to diluted common shares rose to $1.04 billion in the third quarter ended Sept. 30, from $913 million a year earlier.

Earnings per share rose to $2.16 from $1.84. (Reporting by Roopal Verma in Bengaluru; Editing by Sriraj Kalluvila)

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