The PNC Financial Services Group, Inc. (PNC): Business Model Canvas [Dec-2025 Updated]

You're looking to see how a major player like The PNC Financial Services Group, Inc. navigates today's banking pressures, and their Business Model Canvas tells a clear story of calculated dual focus. They are banking on both scale-with assets topping $568.76 billion as of September 2025-and digital agility, projecting revenue growth from both interest income (6% to 7% in FY 2025) and fees (5%). It's a strategy that marries a national physical build-out, including plans for over 200 new locations, with embedded finance partnerships, aiming to capture every type of client. This bank is definitely playing the long game. Dive in below to see the full breakdown of their key resources, customer segments, and cost structure.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Key Partnerships

You're looking at how The PNC Financial Services Group, Inc. builds strategic alliances to scale its business and deliver specialized services. These partnerships aren't just handshake deals; they represent concrete capital commitments and strategic market entries as of late 2025.

The collaboration with TCW Group for private credit expansion is a major component. This partnership formalizes and expands existing work, targeting $2.5 billion in investor equity capital for the inaugural year of the private credit platform. This builds on a history that includes more than 40 co-financings between the two institutions. This joint strategy focuses on directly originated, senior secured cash-flow and asset-based loans to middle-market companies.

For government business, PNC Federal Solutions, a specialized group within Treasury Management, secured a key position by being listed as a commercial vendor on the Department of Treasury's Financial Management Quality Service Management Office (FM QSMO) Marketplace in August 2025. This placement designates PNC Bank as a trusted provider for federal agencies seeking compliant financial management solutions. Core services offered through this channel include Integrated Receivables, Integrated Payables, and Fraud Risk Services.

The commitment to community development is evident through the work with affordable housing developers. PNC Multifamily Capital closed LIHTC Fund 98, which is investing more than $208 million in development and rehabilitation projects. Here's the quick math on the impact of that fund:

Metric	Value/Amount
Total Fund Commitment (LIHTC Fund 98)	$208 million
Affordable Homes Financed/Rehabilitated	More than 2,000
Number of Multifamily Properties	15
Number of States Impacted	11

What this estimate hides is the scale of PNC Multifamily Capital's overall book; at the end of 2024, they managed roughly $15.5 billion in tax credit equity supporting over 133,000 affordable units, alongside a $31 billion agency loan portfolio.

A significant strategic move involves the pending acquisition of FirstBank Holding Company. This deal, expected to close in early 2026 (with Q1 2026 being the target), is valued at approximately $4.1 billion. The consideration is a mix of cash and stock, specifically a fixed number of about 13.9 million PNC shares and $1.2 billion in cash. The acquisition is set to propel Colorado to one of PNC's top markets nationwide. Consider these figures:

Entity	Asset Size (as of June 30, 2025)	Deal Consideration Component
The PNC Financial Services Group, Inc. (PNC)	$559.1 billion	Fixed 13.9 million shares (valued at approx. $2.84 billion)
FirstBank Holding Company	$26.8 billion	$1.2 billion in cash

The integration is planned to more than triple PNC's branch network in Colorado to 120 branches. Also, about 45.7% of FirstBank shareholders have already agreed to vote in favor of the transaction.

The push for embedded finance solutions involves integrating banking services directly into client workflows, a strategy PNC is executing with various technology partners. This is about placing banking services where and when they are needed, reducing friction and manual tasks. For instance, in July 2025, PNC announced the integration of its PINACLE Connect® platform with Oracle Fusion Cloud ERP. Also, in November 2025, PNC announced new payment capabilities for commercial clients through a connection with the expense management platform from Extend. This 'coopetition' with fintechs allows PNC to leverage agility while providing scale and trust.

The Key Partnerships are further supported by:

• Securing anchor investments from Nippon Life Insurance Company for the TCW private credit platform.
• Retaining all FirstBank branches and customer teams post-acquisition for continuity.
• The FM QSMO Marketplace pre-vetting process, which ensures PNC Federal Solutions offerings comply with baseline standards.
• The LIHTC Fund 98 including two investors new to PNC's LIHTC funds.

Finance: draft 13-week cash view by Friday.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Key Activities

You're looking at the operational engine of The PNC Financial Services Group, Inc. as of late 2025. This is where the rubber meets the road, translating strategy into daily financial activity across its national footprint.

Core lending and deposit-taking across a national franchise

The foundation of The PNC Financial Services Group, Inc.'s activity is managing its balance sheet through lending and gathering low-cost funding via deposits. The bank reported total assets of approximately $560 billion as of June 30, 2025. This activity is measured by the net interest income (NII) it generates, which was reported at $3.648 billion for the third quarter of 2025. The net interest margin (NIM) stood at 2.79% in Q3 2025, a slight dip of one basis point from the prior quarter, largely due to commercial deposit growth. The funding side saw average deposits reach $431.8 billion in Q3 2025, with commercial deposits growing 5% during the quarter. Loan expansion is a focus; average loan growth reached 2% in Q2 2025, marking the strongest expansion since the fourth quarter of 2022. The PNC Financial Services Group, Inc. operates the fourth-largest branch network in the United States, with over 2,200 branches nationwide as of late 2025.

Metric	Value (Q3 2025 or latest reported)	Context/Period
Total Assets	$560 billion	As of June 30, 2025
Net Interest Income (NII)	$3.648 billion	Q3 2025
Net Interest Margin (NIM)	2.79%	Q3 2025
Average Deposits	$431.8 billion	Q3 2025
Average Loans	$97 billion	YTD Q2 2025 (30% of total PNC)

Strategic branch network expansion, opening 200+ new locations by 2029

The PNC Financial Services Group, Inc. is actively reinforcing its physical presence, especially in high-growth areas. The bank has increased its commitment to opening more than 300 new branches by 2030, supported by a total branch investment of approximately $2 billion. This is an increase from the prior plan to open over 200 new locations by 2029. Furthermore, the bank reaffirmed its goal to renovate 100% of its branch network by 2029. The acquisition of FirstBank, announced in September 2025 for an implied consideration of $4.1 billion, is expected to add 95 branches and significantly boost market share in Colorado and Arizona. The expansion targets specific markets, including plans for approximately 35 new branches in Nashville and adding about 25 branches in Chicago to its existing 113 locations there.

• Total branch investment commitment: $2 billion
• New branches planned by 2030: More than 300
• Existing branch network renovation target: 100% by 2029
• New employees planned to support growth by 2030: Over 2,000

Digital transformation and embedded finance integration

You need to know that The PNC Financial Services Group, Inc. is pushing hard on the digital front to match its physical service quality. The bank completed the migration of customers onto its new online banking platform last month. This upgrade allows for faster product introduction; what used to take six months can now be done nearly overnight. The focus is on driving digital adoption, with 59% of consumers opening a new deposit account in a branch being digitally active that same day as of November 2025. Overall digital activity across the consumer business sits at about 77% of clients. The next step involves launching a new mobile app in the first half of 2026, which is currently about 40% to 50% complete.

Investment banking and capital markets advisory services

Fee income is a major driver, contributing to the noninterest income total of $2.267 billion in Q3 2025. Fee income itself grew 9% sequentially in Q3 2025, reaching $2.069 billion. Within this, the capital markets and advisory segment showed significant strength, reporting an increase of $111 million or 35% quarter-over-quarter in Q3 2025, driven by M&A and underwriting activity. This segment is key to diversifying revenue away from pure interest income.

Asset and wealth management for high net worth clients

The Asset Management Group is one of The PNC Financial Services Group, Inc.'s three reportable business segments. This activity saw revenue growth of 3% quarter-over-quarter in Q3 2025, covering asset management and brokerage services. The allowance for credit losses to total loans was 1.61% as of September 30, 2025, indicating strong credit quality underpinning the stability of the assets managed.

Finance: draft 13-week cash view by Friday.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Key Resources

You're looking at the core assets that power The PNC Financial Services Group, Inc. right now, late in 2025. These aren't abstract concepts; these are the hard numbers and physical/digital assets that make the business run.

The sheer scale of The PNC Financial Services Group, Inc.'s balance sheet is a primary resource. As of the end of the third quarter, specifically September 30, 2025, the firm reported total assets amounting to $568,767 million.

A strong capital base underpins all lending and investment activities. You can see this strength reflected in their regulatory ratios. For the third quarter of 2025, The PNC Financial Services Group, Inc. maintained a Common Equity Tier 1 (CET1) capital ratio of 10.6%.

Here's a quick snapshot of some of those core financial metrics from Q3 2025:

• Total Assets (Sept 2025): $568.767 billion
• CET1 Capital Ratio (Q3 2025): 10.6%
• Q3 2025 Net Income: $1.8 billion
• Q3 2025 Diluted EPS: $4.35

The physical footprint remains a critical resource, especially as The PNC Financial Services Group, Inc. executes its national expansion. As of September 30, 2025, the bank operated over 2,200 branches nationwide, supported by more than 58,000 PNC and partner ATMs.

The commitment to physical expansion is significant, targeting growth in the South and West. The PNC Financial Services Group, Inc. is investing approximately $2 billion to open more than 300 new branches by 2030. This includes specific targets like approximately 35 new branches in Nashville and about 25 more in Chicago. Furthermore, the pending acquisition of FirstBank Holding Company, expected to close in early 2026, is set to bring the Arizona branch count to over 70 and more than triple the Colorado network to 120 branches.

Proprietary digital platforms are essential for modern banking scale. The Low Cash Mode℠ feature, built on patent-pending technology, is a prime example of this. During its pilot phase, this feature helped nearly 20,000 customers reduce their overdraft fees by more than 60%. The PNC Financial Services Group, Inc. expects this tool to help customers avoid an estimated $125 million to $150 million in overdraft fees annually. When a customer's balance is low, Low Cash Mode℠ provides at least 24 hours of 'extra time' before overdraft item fees are charged.

Expertise in specialized banking services, like Treasury Management and Corporate Banking, translates directly into fee income. In the third quarter of 2025, noninterest income, which includes these fees, rose by 8% to reach $2.267 billion. Sequentially, fee income specifically grew by 9% during that same quarter.

Here is a summary of the scale of the physical and digital infrastructure:

Resource Category	Metric	Latest Figure
Physical Network	Total Branches (Sept 2025)	Over 2,200
Physical Network	Total ATMs (2025)	Over 58,000
Physical Expansion Plan	New Branches by 2030	More than 300
Physical Expansion Investment	Capital Allocated	Approximately $2 billion
Digital Platform (Low Cash Mode)	Pilot Fee Reduction	More than 60%
Digital Platform (Low Cash Mode)	Estimated Annual Fee Avoidance	$125 million to $150 million
Digital Platform (Low Cash Mode)	Extra Time Buffer	At least 24 hours

The PNC Financial Services Group, Inc. also relies on its human capital, which was 543,412,079 shares issued as of the Q3 2025 reporting period, though the number of period-end employees is a more direct measure of operational staff.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Value Propositions

You're looking at the core promises The PNC Financial Services Group, Inc. makes to its customers, which are deeply tied to its size and strategic investments as of late 2025. These value propositions span the entire financial spectrum, from the everyday consumer to large corporate entities.

Diversified financial services from retail to institutional banking.

The PNC Financial Services Group, Inc. isn't just one type of bank; it's structured around three reportable segments: Retail Banking, Corporate & Institutional Banking, and the Asset Management Group. This breadth means you can find everything from basic checking accounts and mortgages to complex capital markets and advisory services under one roof. For instance, the Corporate & Institutional Banking segment offers lending, treasury management, and capital markets services to mid-sized and large corporations, as well as government and not-for-profit entities.

Financial stability and scale of a super-regional bank.

Scale is a major part of the value here. As of September 2025, The PNC Financial Services Group, Inc. reported total assets exceeding $568.76 billion. This size provides a bedrock of stability and the capacity to invest heavily in technology and physical presence. The financial performance in 2025 reflects this scale; for the third quarter of 2025, The PNC Financial Services Group, Inc. posted a net income of $1.8 billion, translating to a diluted earnings per share (EPS) of $4.35 for that quarter. Management is targeting record net interest income (NII) growth of 6% to 7% for the full 2025 fiscal year, showing confidence in their core lending operations.

Here's a quick look at the scale you're dealing with:

Metric	Value (As of Late 2025 Data)	Context
Total Assets	$568.76 billion	As of September 30, 2025
Q3 2025 Net Income	$1.8 billion	Reported for the third quarter of 2025
Q3 2025 Diluted EPS	$4.35	Reported for the third quarter of 2025
Projected 2025 NII Growth	6% to 7%	Management target for the fiscal year 2025

Digital-first convenience with a strong physical branch presence.

The PNC Financial Services Group, Inc. is actively pushing a hybrid model, investing significantly to ensure you have access where you need it, whether online or in person. This isn't just maintaining the status quo; it's a major expansion. The bank has announced plans to invest $2 billion to open more than 300 new branches across nearly 20 U.S. markets by 2030. Also, they plan to renovate 1,400 existing branches by 2029 to create a more modern experience. This commitment to physical density supports the digital-first approach by providing expert support when complex issues arise.

Low Cash Mode to help consumers avoid overdraft fees.

For retail customers using the Virtual Wallet® product, the patented Low Cash Mode℠ offers a distinct advantage in managing day-to-day cash flow. This feature provides real-time intelligent alerts and, crucially, at least 24 hours of 'extra time' to fund an account if the available balance goes negative, allowing you to avoid overdraft item fees. The technology also gives you Payment Control to prioritize which debits process, shifting the decision-making power away from the bank's common industry practice. While the original 2021 projection was to help customers avoid $125 million to $150 million in overdraft fees annually, the value proposition today is about control and transparency during low-balance moments.

The key elements of this service include:

• Extra Time: At least 24 hours to bring the Spend account balance to $0 before fees are charged.
• Payment Control: Ability to prioritize which debits are processed.
• Intelligent Alerts: Notifications via email, text, or push to signal low balances.
• Availability: Comes standard with the Virtual Wallet® Spend account via the mobile app.

Sophisticated advisory and capital solutions for middle market companies.

For the middle market, The PNC Financial Services Group, Inc. combines local team knowledge with the resources of a large national bank. This is evident in their specialized offerings. For example, in May 2024, the bank extended its partnership with TCW Group to specifically offer private credit solutions to middle-market companies, with a goal to raise $2.5 billion in investor equity capital in its first year. This shows a direct commitment to providing capital access beyond standard lending products, which is vital when business leaders are still navigating economic uncertainty.

The Corporate & Institutional Banking segment delivers value through:

• Lending, including secured and unsecured loans.
• Treasury management services for cash and investment management.
• Capital markets and advisory services.
• Private credit solutions for middle-market needs.

Finance: draft 13-week cash view by Friday.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Customer Relationships

You're looking at how The PNC Financial Services Group, Inc. connects with its 15 million Total Customers. It's a dual approach, blending high-touch service for big clients with digital ease for everyone else, all while pouring capital into communities.

Dedicated relationship managers for corporate and wealth clients

For corporate and wealth clients, The PNC Financial Services Group, Inc. maintains a structure that clearly separates service levels. PNC Wealth Management LLC, which acts as both a registered investment adviser and a broker-dealer, provides client relationship summaries (Form CRS) detailing its practices. For the corporate side, roles like the Associate Relationship Manager exist to support the main bankers, indicating a tiered structure for client-facing support in the Commercial/Corporate Bank. Spot commercial and industrial (C&I) loans saw a 3% growth in Q1 2025, showing active engagement in that segment.

High-touch, advisory-led model for complex institutional needs

The advisory model for complex needs is evident in the structure of PNC Wealth Management LLC. This entity offers managed account advisory services, and its relationship summary outlines options for discretionary or non-discretionary account management. The firm's due diligence process includes only mutual fund products, certain ETFs, annuity products, insurance products, and structured products that participate in its revenue sharing program or pay a structuring fee. This specialized focus supports the high-touch service expectation for institutional and high-net-worth relationships.

Digital self-service and mobile app for retail customers

Retail customer relationships are increasingly digital-first. The PNC Financial Services Group, Inc. has the 4th Largest U.S. Branch Network, but digital adoption is clearly accelerating. A June 2025 partnership with Finxera to integrate embedded finance solutions into the mobile app showed early promise: a +12% increase in new retail checking accounts among younger demographics and a +7% improvement in customer retention rates over the past quarter. Furthermore, Consumer DDA Sales per Branch increased by +30% between YTD 2024 and YTD 2025, suggesting digital tools are boosting productivity where physical presence remains. The bank's Net Interest Margin (NIM) for Q1 2025 stood at 2.78%.

Here's a quick look at the scale of the retail and community focus as of late 2025:

Metric Category	Specific Metric	Value/Amount	As Of Date/Period
Retail Scale	Total Customers	15 million	YTD 9/30/2025
Retail Scale	U.S. Branch Network Size	2,200 Branches	6/30/2025
Digital Impact	New Retail Checking Accounts Growth (Finxera Pilot)	+12%	Q2 2025
Digital Impact	Consumer DDA Sales per Branch Growth	+30%	YTD 2025 vs YTD 2024
Community Investment	Total Community Benefits Plan Commitment	$88 billion	2022-2025
Community Investment	Capital Deployed toward CBP	$85.5 billion (over 97% of pledge)	As of 12/31/2024

Community engagement and social impact investment focus

Community relationship building is formalized through the $88 billion Community Benefits Plan (CBP), which concludes in December 2025. This plan is a massive commitment to underserved borrowers and communities. As of December 31, 2024, The PNC Financial Services Group, Inc. had deployed $85.5 billion toward this four-year goal, representing over 97% of the total pledge. The final year focuses on maximizing impact. The CBP components include specific capital allocations for key areas.

The breakdown of the $88 billion commitment includes:

• Home lending: $47 billion
• Small business lending: $26.5 billion
• Community development lending and investment (CDLI): $14.5 billion
• Grants and charitable support: $500 million

The PNC Financial Services Group, Inc. also uses a Community Advisory Council, which includes 18 community leaders, to meet semi-annually to guide lending, investment, and service efforts.

Finance: finalize the 2025 capital deployment report against the CBP targets by end of Q4.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Channels

You're looking at how The PNC Financial Services Group, Inc. gets its value proposition to the customer-it's a mix of physical presence, digital fluency, and specialized relationship teams. Honestly, the channel strategy right now is about balancing a massive physical footprint investment with driving digital primacy.

Physical branch network, including 100 new locations by 2028.

The PNC Financial Services Group, Inc. is making a significant capital commitment to its physical footprint, even as digital adoption grows. While earlier plans targeted opening 100 new branches by 2028 with a $1 billion investment, the latest commitment scales this up considerably. The current, more aggressive plan is to open more than 300 new branches by 2030, supported by an approximate total branch investment of $2 billion. This expansion is paired with a goal to renovate 100% of the existing branch network by 2029. As of late 2025, The PNC Financial Services Group, Inc. currently operates over 2,200 branches. This physical network is seen as vital, as markets with a heavy branch presence see digital sales that are six times what they are in markets without them.

Here's a quick look at the scale of the physical and digital access points:

Channel Component	Metric/Count (Latest Data/Target)	Context/Date Reference
Total Physical Branches (Approximate Current)	Over 2,200	Late 2025
Planned New Branches (Updated Target)	>300 by 2030	Latest Target
Planned New Branches (Previous Target)	100 by 2028	Earlier Plan
Total Branch Investment (Updated)	Approximately $2 billion	Latest Investment
Branch Network Renovation Target	100% by 2029	Latest Target
Fee-Free ATM Access Points (PNC & Partner)	Approximately 60,000	Latest Data
Digitally Active Consumer Clients	About 77%	As of November 2025

Digital banking platforms (online and mobile app).

The PNC Financial Services Group, Inc. has just completed the migration of customers onto its new online banking platform as of November 2025. This replatforming is key because it cuts the time to introduce new capabilities from six months down to potentially overnight. The bank is also working on a new mobile app, which is about 40% to 50% complete, with a target rollout in the first half of 2026. Features being added include digital direct deposit switching and instant debit card issuance within the app. Overall, 77% of consumer clients are digitally active as of late 2025.

Key digital adoption metrics include:

• Digitally active consumers: 77% of the consumer business.
• Digital sales in heavy branch markets: Six times the rate of low-branch markets.
• New DDA sales conversion: 59% of in-branch new account openers were digitally active the same day as of November 2025, up from 45% one year prior.
• New retail checking accounts from a fintech partnership pilot: +12% increase in younger demographics.

Commercial and Institutional Banking relationship teams.

For the Corporate and Institutional Banking segment, the channel involves dedicated relationship teams structured primarily by market location and client size, often dividing between Corporate and Middle Market, with a dividing line around $500 million in revenue. These teams focus on issuing loans and lines of credit, but a major channel strategy involves cross-selling other business lines to deepen relationships. This cross-selling heavily features Treasury Management (TM) products, which manage cash, receivables, and payables, making it easy to find a relevant product for nearly every client. The PNC Financial Services Group, Inc. also provides services nationally to institutional clients like corporations, unions, municipalities, non-profits, foundations, and endowments.

ATMs and phone-based customer contact centers.

Access outside of a branch is heavily supported by the ATM network. As a PNC cardholder, you have fee-free access to approximately 60,000 total PNC and Partner ATMs. This includes fee-free access to more than 55,000 Partner ATMs, such as those at 7-Eleven, CVS, and Walgreens. As of late 2025, The PNC Financial Services Group, Inc. serves via >58,000 ATMs. The bank also utilizes Video Banking Machines, which often have longer hours than standard branch staff, allowing customers to speak with a Consultant outside of typical branch hours. While specific 2025 call center staffing numbers aren't public, the bank has been automating processes, which led to taking out probably more than 2,000 people over the last couple of years in areas related to operations.

Mobile van branches targeting unbanked communities.

The PNC Financial Services Group, Inc. deploys a fleet of mobile units as a direct outreach channel to underserved communities. This program is aligned with The PNC Financial Services Group, Inc.'s $88 Billion Community Benefits Plan. The fleet composition includes:

• Three 40-foot units equipped with an ATM and teller services.
• Eight 30-foot mobile branches used for community outreach efforts.
• Five smaller cash-dispensing ATM sprinter vans.

These mobile branches allow customers to meet with a personal banker, open accounts, apply for loans, or replace debit cards directly in communities with limited access to brick-and-mortar locations. Houston became the sixth market to feature a dedicated mobile branch in 2023.

Finance: draft the Q4 2025 channel utilization report by next Tuesday.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Customer Segments

You're looking at how The PNC Financial Services Group, Inc. structures its client base across its main operating segments as of late 2025. It's a broad mix, spanning from individuals managing daily finances to massive institutional investors.

Retail Consumers (checking, savings, mortgages, auto loans)

This segment forms the base of the client ecosystem. The PNC Financial Services Group, Inc. reported 15 million Total Customers as of year-to-date (YTD) September 30, 2025. You see their activity reflected in the overall deposit and loan figures for the Retail Banking segment.

The Retail Banking segment contributed 56% of total PNC YTD Average Deposits, amounting to $243 billion, and 30% of total YTD Average Loans, totaling $97 billion, as of YTD September 30, 2025. For Q3 2025, consumer demand deposit accounts (DDA) grew 2% year-over-year. Furthermore, about 77% of clients are digitally active across the consumer business as of November 2025.

Key metrics for the Retail Consumer segment include:

• Total Customers (YTD 9/30/2025): 15 million
• YTD Average Deposits (as of 9/30/2025): $243 billion
• LTM Revenue (as of 9/30/2025): $15 billion
• Digitally Active Clients (as of Nov 2025): ~77% of consumer business clients

Small and mid-sized businesses (Commercial Banking)

This group is served through the Corporate & Institutional Banking (C&IB) structure, though historical data points to a specific subset for smaller entities. As of Q4 2023, The PNC Financial Services Group, Inc. served approximately 630,000 small and medium-sized business customers. The broader C&IB segment has grown significantly, now serving more than 90,000 Corporate & Institutional Banking clients.

In Q3 2025, average commercial deposits showed growth of 5% year-over-year. The C&IB segment is actively engaged with its base; for instance, The PNC Financial Services Group, Inc. conducted a survey among 2,000 Corporate & Institutional Banking clients in the second quarter of 2025.

Large corporations and government entities (Institutional Banking)

This segment leverages The PNC Financial Services Group, Inc.'s scale for more complex services like capital markets, treasury management, and specialized lending. The PNC Financial Services Group, Inc. provides financial services to more than two-thirds of the Fortune 500 and thousands of other corporate and institutional clients, based on 2024 data.

The PNC Financial Services Group, Inc. holds a strong position in key institutional services:

• Treasury Management Provider Ranking: #5 in the country (as of Year End 2024)
• PNC Real Estate Ranking: #5 Originator among banks in Commercial/Multifamily (as of Year End 2024)
• Fortune 500 Relationship: Serving 25+ Years on the Fortune 500 Companies list (Fortune, 2025)

High net worth and ultra high net worth individuals (Asset Management Group)

The Asset Management Group (AMG) focuses on wealth management and institutional asset servicing. Discretionary client assets under management (AUM) for AMG showed growth, increasing 7% compared to Q3 2024 and 5% compared to Q2 2025. PNC Wealth Management reported client assets reaching $89 billion as of September 30, 2025.

Specific data for the wealth management component shows strong asset growth:

Metric	Value (as of 9/30/2025 or latest)	Source Context
Client Assets (Wealth Management)	$89 billion	9/30/25
Annualized Revenue (Wealth Management)	$0.8 billion	2025 Ann.
Discretionary AUM Growth (Q3 vs Q3 2024)	7% increase	Q3 2025 Report
PNC Investments LLC Total AUM	$26.5 billion	7/16/2025
HNW Individual Accounts (PNC Investments LLC)	2,466	7/16/2025

The institutional side of AMG is also notable, with The PNC Financial Services Group, Inc. ranking #17 in P&I's list of the largest managers of outsourced chief investment adviser (OCIO) assets as of March 31, 2025. They also ranked #4 for foundation OCIO assets as of that date.

Finance: draft 13-week cash view by Friday.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Cost Structure

You're looking at the expense side of The PNC Financial Services Group, Inc.'s operations as of late 2025. The bank is clearly focused on cost discipline while simultaneously making significant, targeted capital outlays. Here's the quick math on where the money is going.

The overall expense trajectory suggests controlled growth. For the full fiscal year 2025, The PNC Financial Services Group, Inc. anticipates that noninterest expenses will rise by only about 1% compared to the prior year, signaling a focus on operating efficiency. Still, the reported figures show movement; for the three months ended September 30, 2025, total noninterest expense was $3,327 million, or $10,231 million year-to-date. Noninterest expense for the third quarter of 2025 was $3.5 billion, which was a 2% increase quarter-over-quarter, driven in part by technology and branch investments. For the twelve months ending September 30, 2025, total operating expenses were reported at $25.752B.

The PNC Financial Services Group, Inc. is making substantial capital expenditures, particularly in technology. This is a clear push to modernize the platform. While specific 2025 capex figures aren't explicitly detailed as a single line item here, prior commitments show the scale of this focus: The PNC Financial Services Group, Inc. planned to spend $425 million in 2024 on its improvement plan, which specifically funds business and technology investments. Digital transformation remains a top priority, with continued investments in technology supporting the ongoing shift to cloud infrastructure.

Personnel costs represent a major component for a national institution of this size. The PNC Financial Services Group, Inc. relies on a large workforce to service its client base. For instance, the Retail Banking segment alone counts on approximately 15,000 branch team members to support its operations. For the third quarter of 2025, reported Salaries and Employee Benefits expense was $1,826 million.

A major, multi-year capital commitment is dedicated to the physical footprint. The PNC Financial Services Group, Inc. has pledged to invest approximately $1 billion in branch infrastructure through 2028. This investment plan includes two key actions:

• Opening more than 100 new locations in key markets like Denver, Dallas, and Houston.
• Renovating more than 1,200 existing branches nationwide.

This branch investment is designed to enhance customer experience across its approximately 2,300 brick-and-mortar locations.

Regulatory compliance and risk management are non-negotiable, high-cost areas for any large bank. These costs are embedded in noninterest expenses and specific charges. You can see the impact of regulatory-driven assessments in prior periods, such as the $515 million pre-tax special assessment expense incurred in the fourth quarter of 2023, plus an additional $130 million pre-tax expense in the first quarter of 2024 related to the FDIC's expected losses. Furthermore, The PNC Financial Services Group, Inc. must continually manage costs associated with adhering to rules like the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR), and conducting Dodd-Frank Act Company-Run Stress Tests.

Here is a snapshot of key reported expense and investment figures:

Cost Component/Metric	Reported Value (USD)	Period/Target
Projected Noninterest Expense Growth	1% rise	FY 2025 Projection
Total Noninterest Expense (YTD)	$10,231 million	Nine Months Ended September 30, 2025
Q3 2025 Noninterest Expense	$3.5 billion	Quarter Ended September 30, 2025
Branch Infrastructure Investment Total	$1 billion	Through 2028
Branch Renovations/New Openings	1,200 renovated / 100+ new	Through 2028
Salaries and Employee Benefits (Q3 2025)	$1,826 million	Quarter Ended September 30, 2025
Technology/Improvement Plan Spend (Prior Year)	$425 million	2024

The bank's branch team size is substantial, with approximately 15,000 members supporting the retail network.

Finance: draft 13-week cash view by Friday.

The PNC Financial Services Group, Inc. (PNC) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers driving The PNC Financial Services Group, Inc.'s top line as we head into the end of 2025. The revenue streams are clearly split between what the bank earns on its assets and what it collects in service fees.

For the full fiscal year 2025, management has been pointing toward growth in the core interest-earning side of the business. Net Interest Income (NII) is estimated to increase by 6% to 7% compared to FY 2024, with a more specific guidance pointing to a 6.5% increase for the full year 2025. On the fee side, Noninterest Income is projected to grow by approximately 5% for FY 2025.

The most recent quarterly snapshot gives you a clear picture of the scale. Total Revenue for the third quarter of 2025 reached a record $5.9 billion.

Here's a quick look at how the Q3 2025 revenue components stacked up:

Revenue Component	Q3 2025 Amount	Sequential Change (vs. Q2 2025)
Total Revenue	$5.9 billion	Up 4%
Net Interest Income (NII)	$3.6 billion	Up 3%
Noninterest Income (Fees & Other)	$2.3 billion	Up 8%

Interest income from the loan portfolios is a major driver for NII. As of Q3 2025, average loans stood at approximately $325.9 billion. This portfolio includes interest earned from commercial, real estate, and consumer lending activities. For instance, in Q1 2025, average loans were $316.6 billion, with commercial and industrial loans showing 3% growth, partially offset by a decline in commercial real estate loans.

The Noninterest (Fee) Income is generated across several specialized service areas. You can see the activity in these streams by looking at the Q1 2025 figures, which show the underlying revenue generation:

• Capital markets and advisory revenue climbed 18% to $306 million in Q1 2025.
• Asset management and brokerage revenue rose 7% to $391 million in Q1 2025.
• Fee income overall in Q1 2025 was $1.83 billion.
• Card and cash management revenue increased by $45 million in Q2 2025, reflecting growth in Treasury Management product revenue.

To be defintely clear, the growth in fee income is tied directly to the volume and activity within these specific services. For example, Q3 2025 fee income was up 9% compared to the previous quarter, showing strong momentum in fee-based services.