PNC Financial Services Group, Inc. (NYSE: PNC) announced today that President Michael P. Lyons is leaving the company to assume the President & CEO-Elect role at Fiserv. Lyons joined PNC in 2011 to head Corporate & Institutional Banking and became president in 2024.
In terms of financial figures, it's important to note that PNC's total revenue for the last reported quarter was $4.81 billion, a 6.8% increase from the same period last year. Net income for the same period was $1.53 billion, which represents a significant 21% increase from the previous year.
The company's total assets have also experienced growth, reaching $528 billion, which is a 7% increase from the previous year. Additionally, PNC's return on equity (ROE) for the last quarter was 9.53%, a notable improvement from the same period last year.
These figures indicate that PNC has experienced positive financial performance in key areas, including revenue, net income, total assets, and return on equity, during the period in which Michael P. Lyons served as President. Moving forward, it will be interesting to see how PNC adapts to this change in leadership and sustains its financial growth trajectory. Following these announcements, the company's shares moved 0.3%, and are now trading at a price of $196.85. If you want to know more, read the company's complete 8-K report here.
