An ATM is shown at company headquarters for the PNC Financial Services at One PNC Plaza in Pittsburgh, Pennsylvania.
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U.S. regional bank PNC Financial Services on Wednesday posted a near 1% fall in net profit as the bank set aside more money to cover bad loans.
The Pittsburgh, Pennsylvania-based bank’s net income attributable to common shareholders fell to $1.32 billion in the third quarter ended Sept. 30, from $1.33 billion, a year earlier.
On a per-share basis, quarterly earnings rose to $2.94 from $2.82 a year earlier.
Total revenue rose 3% to $4.49 billion.
This article was originally published by Cnbc.com. Read the original article here.