PNC Financial Services(NYSE: PNC) reported its Q1 2020 earnings results for the quarter ended March 31, 2020.
COVID-19 impact and loan growth resulted in Provision for Credit Losses rising from $189 million in 1Q19 to $914 million in 1Q20.
PNC BoD has declared a quarterly cash dividend of $1.15 per share on April 2, 2020, with effective dividend payment date of May 5, 2020.
As of March 31, 2020, the Basel III common equity Tier 1 capital ratio was 9.4%.
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