The PNC Financial Services Group, Inc. (NYSE: PNC) reported lower revenue and earnings for the third quarter of 2023. An increase in profit in the Retail Banking and Corporate & Institutional Banking segments was more than offset by declines in the other divisions.

Net income attributable to common shareholders was $1.57 billion or $3.60 per share in the September quarter, compared to $1.64 billion, or $3.78 per share in the prior-year period.

Revenues declined 6% annually to $5.23 billion during the three-month period. Total deposits amounted to $423.6 billion, and the company had total loans of $319.5 billion at the end of the quarter.

Prior performance

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