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1. Pace of Bad Loans Slows At PNC and Fifth Third.

Author

ECKBLAD, MARSHALL and KARDOS, DONNA

Subjects
*BANK loans, *CORPORATE profits, *BANKING industry
Abstract

The article reports that the pace of loans going bad at PNC Financial Services Group Inc. and Fifth Third Bancorp has slowed during the second-quarter of 2009. Net income of PNC fell to 207 million U.S. dollars compared with 517 million U.S. dollars during the same quarter in 2008. However, Fifth Third posted a profit of 882 million U.S. dollars or 1.15 dollars per share. PNC chief financial officer (CFO) Richard Johnson said that the company expects its provision for loan losses to remain flat in coming quarters.

Published
2009

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