PNC Sees Flat Loan Loss Provisions In Coming Quarters
23 Juillet 2009 - 7:04PM
Dow Jones News
James Rohr, chief executive of PNC Financial Services Group Inc.
(PNC), said Thursday that early stage delinquencies among his
bank's loan books "began to flatten" in the second quarter.
He made the comments to analysts during a conference call to
discuss PNC's second quarter earnings report.
PNC's Chief Financial Richard Johnson said the company's expects
its provision for loan losses to remain flat in coming quarters.
PNC posted a second-quarter provision of $1.1 billion.
"I don't have any reason to believe [future provisions] will get
substantially better," said Johnson, "nor do I have reason to
believe they'll get substantially worse."
Johnson also said PNC expects a fourth-quarter after-tax gain of
$400 million to $500 million related to its investment stake in
asset manager BlackRock Inc. (BLK)
-By Marshall Eckblad, Dow Jones Newswires; 212-416-2156;
marshall.eckblad@dowjones.com