United States

PNC Financial Services Group Inc (PNC.N)

PNC.N on New York Stock Exchange

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Fitch: PNC's 2Q16 Results Higher on Improved Fee Income

(The following statement was released by the rating agency) CHICAGO, July 15 (Fitch) PNC Financial Services Group, Inc. (PNC) reported $989 million in net income for 2Q16, up 5% on a linked-quarter basis, for an ROA of 1.11%. On a year-over-year basis, net income fell 5.3%. The results are in line with Fitch Ratings' expectations for the company, which remains very highly rated. Results reflected strong fee income growth during the quarter and lower credit costs, partially offset by higher