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ETF News

PNC Financial quarterly profit falls 35.4 pct

Jan 16 (Reuters) - U.S. regional bank PNC Financial Services Group Inc on Wednesday reported a 35.4 percent fall in quarterly income from a year ago when the bank benefited from a $1.2 billion gain from changes in U.S. tax laws.

Net income attributable to common shareholders fell to $1.35 billion, or $2.75 per share, in the fourth quarter ended Dec. 31, from $2.09 billion, or $4.18 per share, a year earlier. [reut.rs/2TUWKq8 ]

Total revenue rose nearly 2 percent to $4.34 billion.

Reporting by Mary Ann Alapatt in Bengaluru; Editing by Shinjini Ganguli

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