NEW YORK (Reuters) - The U.S. government took further steps to prop up the U.S. banking system on Friday, starting to inject capital into a new group of banks, and helping to finance a $5.2 billion takeover of National City Corp by PNC Financial Services Group Inc.
I strongly believe that for the next few quarters, financial institutions should build their balance sheets to the strongest possible positions in capital and liquidity and reserves. This is the logical tactic given the regulatory uncertainties paired with enormous demand potential as the credit and business cycles turn. Releasing reserves make no sense to me. First a snapshot of some recent selected data.
By Market Analytics:PNC Financial Services Group (PNC) is the fifth-largest regional bank in the United States (by total branches), sixth largest by total assets and sixth largest by deposits in the United States.
ByRichard Tarjeft:The PNC Financial Services Group, Inc. (PNC) is a financial service company with a market capitalization of $37.65 Billion. It is engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking, providing these products and services nationally.
Pnc Financial Services Group,The (PNC)
March 05, 2013 2:00 pm ET
William S. Demchak - President, Director and President of PNC Bank National Association
Keith Horowitz - Citigroup Inc, Research Division
William S. Demchak
It’s official: After an epic spending spree, Canadian consumers are finally putting away their wallets, depriving the banks of a profit wellspring of historic proportion. Fortunately for bank shareholders the wallet-closing has been a relatively gradual process that has yet to put a dint in the bottom line.
By Rash Menaria: PNC Financial Services Group, Inc. (PNC) is a diversified financial services company based in the United States. PNC manages over $250 billion in assets, of which approximately $38 billion is deployed in equities.
By Lalit Sharma:PNC Financial Services Group (PNC) manages $43 billion in equity assets, primarily through its investment advisory subsidiary, PNC Wealth Management, which controls the PNC series of mutual funds.
By Lalit Sharma:PNC Financial Services Group (PNC) manages $43 billion in equity assets primarily through its investment advisory subsidiary PNC Wealth Management, which controls the PNC Series of mutual funds. PNC employs both growth and value approach to investing and holds stocks for the long term.