PNC Probability of Bankruptcy | PNC Financial Services Group Inc (PNC) (2024)

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PNC Probability of Bankruptcy | PNC Financial Services Group Inc (PNC)? ›

The Probability of Bankruptcy of PNC Financial Services Group Inc (PNC) is 5.4% . This number represents the probability that PNC will face financial distress in the next 24 months given its current fundamentals and market conditions.

PNC Financial's odds of distress is under 6% at the present time. It has tiny probability of undergoing some form of financial straits in the near future. Probability of distress shows the probability of financial torment over the next two years of operations under current economic and market conditions.

Fitch Ratings - New York - 16 Oct 2023: Fitch Ratings has affirmed PNC Financial Services Group, Inc.'s (PNC) and its primary operating subsidiary PNC Bank, NA's (PNCBNA) Long-Term (LT) and Short-Term (ST) Issuer Default Ratings (IDRs) at 'A+'/'F1'. The Rating Outlook is Stable on the long-term IDRs.

Alyssa is a MarketWatch Guides team editor covering personal finance, insurance and loans. Our PNC Bank review gives the company 4.1 out of 5 stars overall based on its high customer satisfaction scores, accessibility and great mobile app.

PNC Financial Services long term debt for 2023 was $72.737B, a 23.89% increase from 2022. PNC Financial Services long term debt for 2022 was $58.713B, a 90.73% increase from 2021. PNC Financial Services long term debt for 2021 was $30.784B, a 17.24% decline from 2020.

It is the probability of a firm becoming insolvent due to its inability to service its debt. Many investors consider a firm's bankruptcy risk before making equity or bond investment decisions. Firms with a high risk of bankruptcy may find it difficult to raise capital from investors or creditors.

WASHINGTON – Today, the U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investment in PNC Bank in the sum of $7.6 billion, bringing the total amount of repaid TARP funds to more than $173 billion.

PNC Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The Federal Deposit Insurance Corporation (FDIC) is a federal agency organized in 1933 that insures depositors' accounts up to the insured amount at most commercial banks and savings associations.

Compared with the fourth quarter of 2022, total revenue declined $402 million due to lower net interest income and noninterest income. Net interest income of $3.4 billion for the fourth quarter of 2023 was relatively stable compared to the third quarter of 2023.

PNC Bank is investing $1 billion to open 100 new branches and renovate roughly 1,200 locations by 2028, the bank announced earlier this month.

What is the weakness of PNC? ›

Weakness of PNC

Weakness is the area where PNC can improve upon by building strategies. Below mentioned are the weakness of PNC: Limited Success Across the Core Business: Although PNC is one of the leading organizations in its industry it faces challenges in moving to other product segments with its present culture.

With $557 billion in assets, PNC Bank is the sixth largest in the United States, although even the fourth largest, Citibank, more than triples that amount. While significant, PNC's scale doesn't place it in the same "too big to fail" category as the giants on the G-SIBs list.

PNC Bank is a subsidiary of The PNC Financial Services Group, Inc., a U.S.-based bank holding company headquartered in Pittsburgh, Pennsylvania, and founded in 1845.

The 10 largest banks in the U.S. are Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank, PNC Bank, Goldman Sachs Bank, Truist Bank, Capital One and TD Bank. Key Takeaways: Chase is the largest bank in the country, holding over $3.38 trillion in assets.

Pay over the phone with Voice Banking by calling 1-888-PNC-BANK (1-888-762-2265). If paying from a non-PNC deposit account, have your account number and routing number available. Make a payment with a PNC Agent over the phone. Call a PNC Agent at 1-888-PNC-BANK (1-888-762-2265).

Ally Bank told USA TODAY that "nearly 90% of our customer deposits are fully insured (by the FDIC)." PNC Bank said its "strong capital and liquidity levels position us well to continue supporting our customers regardless of the economic environment."

Virtual Wallet with Performance Spend

Make $2,000 in direct deposits to your Spend account each monthly statement period ($1,000 for WorkPlace and Military banking customers). Keep an average monthly balance of $2,000 in checking and/or Reserve accounts. Maintain a combined balance of $10,000 in PNC deposit accounts.

A bankruptcy drops off your credit report after 10 years if you file for Chapter 7 bankruptcy, or after seven years if you file Chapter 13 bankruptcy. As long as it stays on your credit reports, a bankruptcy can hurt your credit scores, but its impact on scores lessens over time.

If your bank fails, up to $250,000 of deposited money (per person, per account ownership type) is protected by the FDIC. When banks fail, the most common outcome is that another bank takes over the assets and your accounts are simply transferred over. If not, the FDIC will pay you out.