January 12, 2018 / 12:01 PM / 5 months ago

PNC Financial profit doubles on tax gain

Jan 12 (Reuters) - Regional lender PNC Financial Services’ quarterly profit doubled, driven by a $911 million one-time benefit related to President Donald Trump’s new tax law.

The Pittsburgh, Pennsylvania-based bank said on Friday that net income attributable to diluted common shares rose to $2.01 billion in the fourth quarter ended Dec. 31, from $973 million a year earlier. reut.rs/2ASj9uc

Earnings per share rose to $4.18 from $1.97.

Analysts on average were looking for $2.20 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard Orr

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