PNC Financial Services Group, Inc (NYSE:PNC) was founded in 1852 and headquartered in Pittsburg, Pennsylvania. As of December 31, 2020, it operated 2,162 branches and 8,900 ATMs
PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels. The Corporate & Institutional Banking segment provides secured and unsecured loans, letters of credit, and equipment leases; payables, receivables, deposit and account, liquidity and investments, and online and mobile banking products and services; foreign exchange, derivatives, securities underwriting, loan syndications, and mergers and acquisitions and equity capital markets advisory related services; and commercial loan servicing and technology solutions for the commercial real estate finance industry. The Asset Management Group segment offers investment and retirement planning, customized investment management, private banking, and trust management and administration solutions; and multi-generational family planning products, such as estate, financial, tax planning, fiduciary, investment management and consulting, personal administrative, asset custody, and customized performance reporting services.
PNC Financial Services Group, Inc is a leading U.S. bank that focuses on traditional banking, commercial mortgage servicing and asset management services. Its fee-based businesses such as commercial banking, treasury management, middle-market merger and acquisition advisory, and asset management should help mitigate net interest margin pressures in a low-rate environment. PNC’s push to expand its business nationally creates a sizable growth opportunity. In addition, PNC’s recent $11.6 billion buyout of BBVA should offset earnings lost from the 2020 sale of its 500,000-share stake in BlackRock.
PNC employs 49,549 people. The company currently falls under ‘Large-Cap’ category with total capitalization of 74.54 B. Market capitalization usually refers to the total value of a company’s stock within the entire market. PNC Bank secures a total of four hundred twenty-four million twenty thousand outstanding shares. The majority of PNC Bank outstanding shares are owned institutions (over 83 %).