(Reuters) – PNC Financial Services on Friday said it expects second-quarter net interest income and fee revenue to be higher than first quarter, sending its shares up 2.3 percent in morning trading.
FILE PHOTO: The logo above a PNC Bank is shown in Charlotte, North Carolina April 18, 2012. REUTERS/Chris Keane/File Photo
Second-quarter interest income is expected to rise in low-single digits, and fee income in mid-single digits, the bank said on a post-earnings conference call with analysts.
Earlier on Friday, the U.S. lender – one of the largest by assets – just about met first quarter profit estimates, as provisions for bad loans and a rise in expenses overshadowed growth in loans and higher interest income.
Net income attributable to shareholders stood at $1.20 billion