Exhibit

Exhibit 99.1

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2019

(Unaudited)

THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT

FOURTH QUARTER 2019

(UNAUDITED)



Consolidated Results:	Page
Income Statement	1
Balance Sheet	2
Average Balance Sheet	3
Details of Net Interest Margin	4
Per Share Related Information	5
Loans	5
Allowance for Loan and Lease Losses	6
Nonperforming Assets	7-8
Accruing Loans Past Due	9

Business Segment Results:
Descriptions	10
Period End Employees	10
Income and Revenue	11
Retail Banking	12-13
Corporate & Institutional Banking	14
Asset Management Group	15

Glossary of Terms	16-18

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on January 15, 2020. We have reclassified certain prior period amounts to be consistent with the current period presentation, which we believe is more meaningful to readers of our consolidated financial statements. This information speaks only as of the particular date or dates included in the schedules. We do not undertake any obligation to, and disclaim any duty to, correct or update any of the information provided in this Financial Supplement. Our future financial performance is subject to risks and uncertainties as described in our United States Securities and Exchange Commission (SEC) filings.

BUSINESS

PNC is one of the largest diversified financial services companies in the United States and is headquartered in Pittsburgh, Pennsylvania. PNC has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of its products and services nationally. PNC's retail branch network is located primarily in markets across the Mid-Atlantic, Midwest and Southeast. PNC also has strategic international offices in four countries outside the U.S.



THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Fourth Quarter 2019 Financial Supplement (Unaudited)
Financial Supplement Table Reference

Table	Description	Page
1	Consolidated Income Statement	1
2	Consolidated Balance Sheet	2
3	Average Consolidated Balance Sheet	3
4	Details of Net Interest Margin	4
5	Per Share Related Information	5
6	Details of Loans	5
7	Change in Allowance for Loan and Lease Losses	6
8	Nonperforming Assets by Type	7
9	Change in Nonperforming Assets	8
10	Largest Individual Nonperforming Assets	8
11	Accruing Loans Past Due 30 to 59 Days	9
12	Accruing Loans Past Due 60 to 89 Days	9
13	Accruing Loans Past Due 90 Days or More	9
14	Period End Employees	10
15	Summary of Business Segment Income and Revenue	11
16	Retail Banking	12-13
17	Corporate & Institutional Banking	14
18	Asset Management Group	15



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 1

Table 1: Consolidated Income Statement (Unaudited)



	Three months ended															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
In millions, except per share data	2019			2019			2019			2019			2018			2019			2018
Interest Income
Loans	$	2,573		$	2,678		$	2,672		$	2,602		$	2,555		$	10,525		$	9,580
Investment securities	560			617			629			620			608			2,426			2,261
Other	201			208			196			206			196			811			741
Total interest income	3,334			3,503			3,497			3,428			3,359			13,762			12,582
Interest Expense
Deposits	468			531			515			472			419			1,986			1,229
Borrowed funds	378			468			484			481			459			1,811			1,632
Total interest expense	846			999			999			953			878			3,797			2,861
Net interest income	2,488			2,504			2,498			2,475			2,481			9,965			9,721
Noninterest Income
Asset management	504			464			445			437			428			1,850			1,825
Consumer services	390			402			392			371			387			1,555			1,502
Corporate services	499			469			484			462			468			1,914			1,849
Residential mortgage	87			134			82			65			59			368			316
Service charges on deposits	185			178			171			168			192			702			714
Other (a)	456			342			367			308			325			1,473			1,205
Total noninterest income	2,121			1,989			1,941			1,811			1,859			7,862			7,411
Total revenue	4,609			4,493			4,439			4,286			4,340			17,827			17,132
Provision For Credit Losses	221			183			180			189			148			773			408
Noninterest Expense
Personnel	1,468			1,400			1,365			1,414			1,348			5,647			5,471
Occupancy	201			206			212			215			202			834			818
Equipment	348			291			298			273			285			1,210			1,103
Marketing	77			76			83			65			84			301			285
Other	668			650			653			611			658			2,582			2,619
Total noninterest expense	2,762			2,623			2,611			2,578			2,577			10,574			10,296
Income before income taxes and noncontrolling interests	1,626			1,687			1,648			1,519			1,615			6,480			6,428
Income taxes	245			295			274			248			264			1,062			1,082
Net income	1,381			1,392			1,374			1,271			1,351			5,418			5,346
Less: Net income attributable to noncontrolling interests	14			13			12			10			14			49			45
Preferred stock dividends (b)	55			63			55			63			55			236			236
Preferred stock discount accretion and redemptions	1			1			1			1			1			4			4
Net income attributable to common shareholders	$	1,311		$	1,315		$	1,306		$	1,197		$	1,281		$	5,129		$	5,061
Earnings Per Common Share
Basic	$	2.98		$	2.95		$	2.89		$	2.62		$	2.77		$	11.43		$	10.79
Diluted	$	2.97		$	2.94		$	2.88		$	2.61		$	2.75		$	11.39		$	10.71
Average Common Shares Outstanding
Basic	437			444			451			455			461			447			467
Diluted	438			445			452			456			463			448			470
Efficiency	60		%	58		%	59		%	60		%	59		%	59		%	60		%
Noninterest income to total revenue	46		%	44		%	44		%	42		%	43		%	44		%	43		%
Effective tax rate (c)	15.1		%	17.5		%	16.6		%	16.3		%	16.3		%	16.4		%	16.8		%


(a)	Includes net gains on sales of securities of $12 million, $3 million, $20 million, $13 million, and $5 million for the quarters ended December 31, 2019, September 30, 2019, June 30, 2019, March 31, 2019 and December 31, 2018, respectively, and $48 million for full year 2019. The amount for full year 2018 was less than $.5 million.


(b)	Dividends are payable quarterly other than Series O, Series R and Series S preferred stock, which are payable semiannually, with the Series O payable in different quarters than the Series R and Series S preferred stock.


(c)	The effective income tax rates are generally lower than the statutory rate due to the relationship of pretax income to tax credits and earnings that are not subject to tax.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 2

Table 2: Consolidated Balance Sheet (Unaudited)



	December 31			September 30			June 30			March 31			December 31
In millions, except par value	2019			2019			2019			2019			2018
Assets
Cash and due from banks	$	5,061		$	5,671		$	5,416		$	5,062		$	5,608
Interest-earning deposits with banks (a)	23,413			19,036			18,362			15,261			10,893
Loans held for sale (b)	1,083			1,872			1,144			686			994
Investment securities – available for sale	69,163			69,057			69,355			65,051			63,389
Investment securities – held to maturity	17,661			18,826			18,948			18,818			19,312
Loans (b)	239,843			237,377			237,215			232,293			226,245
Allowance for loan and lease losses	(2,742		)	(2,738		)	(2,721		)	(2,692		)	(2,629		)
Net loans	237,101			234,639			234,494			229,601			223,616
Equity investments (c)	13,734			13,325			13,001			12,567			12,894
Mortgage servicing rights	1,644			1,483			1,627			1,812			1,983
Goodwill	9,233			9,233			9,221			9,218			9,218
Other (b)	32,202			35,774			34,193			34,761			34,408
Total assets	$	410,295		$	408,916		$	405,761		$	392,837		$	382,315
Liabilities
Deposits
Noninterest-bearing	$	72,779		$	74,077		$	69,867		$	71,606		$	73,960
Interest-bearing	215,761			211,506			203,393			199,615			193,879
Total deposits	288,540			285,583			273,260			271,221			267,839
Borrowed funds
Federal Home Loan Bank borrowings	16,341			21,901			29,376			20,501			21,501
Bank notes and senior debt	29,010			27,148			27,694			25,598			25,018
Subordinated debt	6,134			5,473			5,406			5,977			5,895
Other (b)	8,778			6,832			6,549			7,784			5,005
Total borrowed funds	60,263			61,354			69,025			59,860			57,419
Allowance for unfunded loan commitments and letters of credit	318			304			291			279			285
Accrued expenses and other liabilities	11,831			12,220			13,804			12,902			9,002
Total liabilities	360,952			359,461			356,380			344,262			334,545
Equity
Preferred stock (d)
Common stock - $5 par value
Authorized 800 shares, issued 542 shares	2,712			2,711			2,711			2,711			2,711
Capital surplus	16,369			16,297			16,248			16,173			16,277
Retained earnings	42,215			41,413			40,616			39,742			38,919
Accumulated other comprehensive income (loss)	799			837			631			(5		)	(725		)
Common stock held in treasury at cost:109, 103, 95, 90 and 85 shares	(12,781		)	(11,838		)	(10,866		)	(10,085		)	(9,454		)
Total shareholders’ equity	49,314			49,420			49,340			48,536			47,728
Noncontrolling interests	29			35			41			39			42
Total equity	49,343			49,455			49,381			48,575			47,770
Total liabilities and equity	$	410,295		$	408,916		$	405,761		$	392,837		$	382,315


(a)	Amounts include balances held with the Federal Reserve Bank of Cleveland of $23.2 billion, $18.8 billion, $18.1 billion, $15.0 billion and $10.5 billion as of December 31, 2019, September 30, 2019, June 30, 2019, March 31, 2019 and December 31, 2018, respectively.


(b)	Amounts include assets and liabilities for which PNC has elected the fair value option. Our third quarter 2019 Form 10-Q included, and our 2019 Form 10-K will include, additional information regarding these items.


(c)	Amounts include our equity investment in BlackRock.


(d)	Par value less than $.5 million at each date.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 3



Table 3: Average Consolidated Balance Sheet (Unaudited) (a)
	Three months ended										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
In millions	2019		2019		2019		2019		2018		2019		2018
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency	$	33,937	$	32,926	$	30,169	$	29,002	$	28,375	$	31,526	$	27,156
Non-agency	1,582		1,716		1,801		1,890		1,993		1,746		2,196
Commercial mortgage-backed	6,054		5,728		5,545		5,368		4,830		5,676		4,545
Asset-backed	5,059		5,208		5,395		5,136		5,186		5,199		5,242
U.S. Treasury and government agencies	15,966		17,573		18,815		18,240		18,443		17,642		16,319
Other	2,849		3,053		3,237		3,671		3,920		3,200		4,064
Total securities available for sale	65,447		66,204		64,962		63,307		62,747		64,989		59,522
Securities held to maturity
Residential mortgage-backed	14,943		15,768		15,350		15,627		15,941		15,421		15,670
Commercial mortgage-backed	498		544		570		600		648		553		767
Asset-backed	54		79		172		177		185		120		192
U.S. Treasury and government agencies	774		769		765		760		756		767		749
Other	1,794		1,802		1,822		1,847		1,856		1,816		1,884
Total securities held to maturity	18,063		18,962		18,679		19,011		19,386		18,677		19,262
Total investment securities	83,510		85,166		83,641		82,318		82,133		83,666		78,784
Loans
Commercial	124,876		125,356		124,441		119,345		116,596		123,524		113,837
Commercial real estate	28,670		28,855		28,423		28,147		28,382		28,526		28,756
Equipment lease financing	7,199		7,272		7,283		7,263		7,216		7,255		7,437
Consumer	56,765		55,702		55,202		54,996		55,331		55,671		55,438
Residential real estate	21,341		20,497		19,496		18,794		18,405		20,040		17,810
Total loans	238,851		237,682		234,845		228,545		225,930		235,016		223,278
Interest-earning deposits with banks (b)	23,316		15,632		13,469		15,017		16,691		16,878		20,603
Other interest-earning assets	11,371		14,094		13,145		11,068		10,431		12,425		8,093
Total interest-earning assets	357,048		352,574		345,100		336,948		335,185		347,985		330,758
Noninterest-earning assets	54,371		54,135		51,862		48,950		47,906		52,350		47,477
Total assets	$	411,419	$	406,709	$	396,962	$	385,898	$	383,091	$	400,335	$	378,235
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market	$	56,209	$	56,271	$	54,814	$	54,702	$	55,228	$	55,505	$	56,353
Demand	69,496		65,444		64,431		63,480		62,207		65,729		60,599
Savings	66,827		64,054		61,949		58,821		55,065		62,938		51,908
Time deposits	21,600		21,173		20,040		18,813		18,743		20,416		17,501
Total interest-bearing deposits	214,132		206,942		201,234		195,816		191,243		204,588		186,361
Borrowed funds
Federal Home Loan Bank borrowings	18,944		25,883		22,681		21,491		20,683		22,253		20,970
Bank notes and senior debt	27,403		27,409		26,865		25,418		26,380		26,781		27,855
Subordinated debt	5,760		5,189		5,526		5,883		5,874		5,588		5,292
Other	7,926		5,452		7,263		6,991		5,847		6,906		5,189
Total borrowed funds	60,033		63,933		62,335		59,783		58,784		61,528		59,306
Total interest-bearing liabilities	274,165		270,875		263,569		255,599		250,027		266,116		245,667
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits	73,626		72,149		71,648		71,402		75,228		72,212		76,303
Accrued expenses and other liabilities	14,541		14,529		13,122		11,242		10,833		13,371		9,440
Equity	49,087		49,156		48,623		47,655		47,003		48,636		46,825
Total liabilities and equity	$	411,419	$	406,709	$	396,962	$	385,898	$	383,091	$	400,335	$	378,235


(a)	Calculated using average daily balances.

(b)

Amounts include average balances held with the Federal Reserve Bank of Cleveland of $23.0 billion, $15.3 billion, $13.2 billion, $14.7 billion and $16.4 billion for the three months ended December 31, 2019, September 30, 2019, June 30, 2019, March 31, 2019, and December 31, 2018, respectively, and $16.6 billion and $20.3 billion for the years ended December 31, 2019 and December 31, 2018, respectfully.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 4



Table 4: Details of Net Interest Margin (Unaudited)
	Three months ended										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
	2019		2019		2019		2019		2018		2019		2018
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency	2.48	%	2.70	%	2.93	%	2.94	%	2.86	%	2.75	%	2.72	%
Non-agency	8.09	%	8.89	%	7.99	%	7.31	%	7.08	%	8.08	%	6.65	%
Commercial mortgage-backed	2.30	%	2.97	%	3.06	%	3.13	%	2.99	%	2.85	%	2.82	%
Asset-backed	3.26	%	3.31	%	3.34	%	3.35	%	3.24	%	3.31	%	3.15	%
U.S. Treasury and government agencies	2.31	%	2.44	%	2.48	%	2.49	%	2.41	%	2.47	%	2.29	%
Other	3.36	%	3.41	%	3.33	%	3.34	%	3.37	%	3.34	%	3.49	%
Total securities available for sale	2.65	%	2.90	%	3.01	%	3.01	%	2.93	%	2.90	%	2.85	%
Securities held to maturity
Residential mortgage-backed	2.63	%	2.78	%	2.93	%	3.01	%	2.98	%	2.84	%	2.91	%
Commercial mortgage-backed	4.44	%	3.68	%	3.57	%	3.53	%	3.68	%	3.80	%	3.78	%
Asset-backed	3.02	%	5.48	%	3.92	%	3.83	%	3.76	%	4.17	%	3.65	%
U.S. Treasury and government agencies	2.86	%	2.86	%	2.84	%	2.81	%	2.86	%	2.87	%	2.80	%
Other	4.47	%	4.40	%	4.44	%	4.40	%	4.41	%	4.41	%	4.35	%
Total securities held to maturity	2.87	%	2.98	%	3.10	%	3.16	%	3.14	%	3.03	%	3.09	%
Total investment securities	2.70	%	2.91	%	3.03	%	3.05	%	2.98	%	2.93	%	2.91	%
Loans
Commercial	3.88	%	4.06	%	4.22	%	4.33	%	4.17	%	4.17	%	4.05	%
Commercial real estate	3.89	%	4.40	%	4.43	%	4.37	%	4.42	%	4.33	%	4.15	%
Equipment lease financing	3.87	%	3.82	%	4.06	%	3.93	%	3.77	%	3.93	%	3.59	%
Consumer	5.45	%	5.61	%	5.56	%	5.54	%	5.32	%	5.54	%	5.08	%
Residential real estate	4.10	%	4.21	%	4.27	%	4.29	%	4.41	%	4.21	%	4.40	%
Total loans	4.27	%	4.47	%	4.56	%	4.61	%	4.49	%	4.51	%	4.33	%
Interest-earning deposits with banks	1.66	%	2.17	%	2.38	%	2.43	%	2.25	%	2.09	%	1.84	%
Other interest-earning assets	3.65	%	3.49	%	3.55	%	4.14	%	3.93	%	3.69	%	4.47	%
Total yield on interest-earning assets	3.71	%	3.95	%	4.06	%	4.11	%	3.99	%	3.98	%	3.84	%
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market	.93	%	1.14	%	1.17	%	1.15	%	.99	%	1.10	%	.74	%
Demand	.51	%	.58	%	.55	%	.52	%	.46	%	.54	%	.31	%
Savings	.97	%	1.14	%	1.19	%	1.13	%	1.04	%	1.11	%	.82	%
Time deposits	1.52	%	1.66	%	1.67	%	1.55	%	1.38	%	1.60	%	1.11	%
Total interest-bearing deposits	.87	%	1.02	%	1.03	%	.98	%	.87	%	.97	%	.66	%
Borrowed funds
Federal Home Loan Bank borrowings	2.11	%	2.48	%	2.69	%	2.77	%	2.57	%	2.56	%	2.28	%
Bank notes and senior debt	2.77	%	3.21	%	3.36	%	3.50	%	3.31	%	3.24	%	2.94	%
Subordinated debt	3.06	%	3.53	%	4.17	%	4.50	%	4.44	%	3.83	%	4.23	%
Other	1.89	%	2.43	%	2.44	%	2.44	%	2.36	%	2.30	%	2.16	%
Total borrowed funds	2.47	%	2.87	%	3.08	%	3.21	%	3.07	%	2.94	%	2.75	%
Total rate on interest-bearing liabilities	1.21	%	1.45	%	1.51	%	1.50	%	1.38	%	1.43	%	1.16	%
Interest rate spread	2.50	%	2.50	%	2.55	%	2.61	%	2.61	%	2.55	%	2.68	%
Benefit from use of noninterest bearing sources (b)	.28		.34		.36		.37		.35		.34		.29
Net interest margin	2.78	%	2.84	%	2.91	%	2.98	%	2.96	%	2.89	%	2.97	%

(a)

Yields and rates are calculated using the applicable annualized interest income or interest expense divided by the applicable average earning assets or interest-bearing liabilities. Net interest margin is the total yield on interest-earning assets minus the total rate on interest-bearing liabilities and includes the benefit from use of noninterest-bearing sources. To provide more meaningful comparisons of net interest margins, we use net interest income on a taxable-equivalent basis in calculating average yields used in the calculation of net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. This adjustment is not permitted under generally accepted accounting principles (GAAP) in the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the three months ended December 31, 2019, September 30, 2019, June 30, 2019, March 31, 2019 and December 31, 2018 were $23 million, $25 million, $27 million, $27 million and $28 million, respectively. The taxable-equivalent adjustments to net interest income for the years ended December 31, 2019 and December 31, 2018 were $103 million and $115 million, respectively.


(b)	Represents the positive effects of investing noninterest-bearing sources in interest-earning assets.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 5



Table 5: Per Share Related Information (Unaudited)
	Three months ended										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
In millions, except per share data	2019		2019		2019		2019		2018		2019		2018
Basic
Net income	$	1,381	$	1,392	$	1,374	$	1,271	$	1,351	$	5,418	$	5,346
Less:
Net income attributable to noncontrolling interests	14		13		12		10		14		49		45
Preferred stock dividends (a)	55		63		55		63		55		236		236
Preferred stock discount accretion and redemptions	1		1		1		1		1		4		4
Net income attributable to common shareholders	1,311		1,315		1,306		1,197		1,281		5,129		5,061
Less: Dividends and undistributed earnings allocated to nonvested restricted shares	6		6		4		5		5		21		21
Net income attributable to basic common shares	$	1,305	$	1,309	$	1,302	$	1,192	$	1,276	$	5,108	$	5,040
Basic weighted-average common shares outstanding	437		444		451		455		461		447		467
Basic earnings per common share	$	2.98	$	2.95	$	2.89	$	2.62	$	2.77	$	11.43	$	10.79
Diluted
Net income attributable to basic common shares	$	1,305	$	1,309	$	1,302	$	1,192	$	1,276	$	5,108	$	5,040
Less: Impact of BlackRock earnings per share dilution	3		2		2		3		2		10		9
Net income attributable to diluted common shares	$	1,302	$	1,307	$	1,300	$	1,189	$	1,274	$	5,098	$	5,031
Basic weighted-average common shares outstanding	437		444		451		455		461		447		467
Dilutive potential common shares	1		1		1		1		2		1		3
Diluted weighted-average common shares outstanding	438		445		452		456		463		448		470
Diluted earnings per common share	$	2.97	$	2.94	$	2.88	$	2.61	$	2.75	$	11.39	$	10.71


(a)	Dividends are payable quarterly other than the Series O, Series R and Series S preferred stock, which are payable semiannually, with the Series O payable in different quarters than the Series R and Series S preferred stock.

Table 6: Details of Loans (Unaudited)



	December 31		September 30		June 30		March 31		December 31
In millions	2019		2019		2019		2019		2018
Commercial lending
Commercial
Manufacturing	$	21,540	$	21,846	$	22,191	$	22,575	$	21,207
Retail/wholesale trade	21,565		21,761		22,280		21,655		20,850
Service providers	16,112		16,189		15,387		15,266		14,869
Real estate related (a)	12,346		12,294		12,264		12,287		12,312
Financial services	11,318		10,437		11,916		10,475		9,500
Health care	8,035		8,137		8,594		8,731		8,886
Transportation and warehousing	7,474		7,216		6,588		6,744		5,781
Other industries	26,947		26,134		26,404		25,260		23,429
Total commercial	125,337		124,014		125,624		122,993		116,834
Commercial real estate	28,110		28,884		28,570		28,101		28,140
Equipment lease financing	7,155		7,290		7,409		7,348		7,308
Total commercial lending	160,602		160,188		161,603		158,442		152,282
Consumer lending
Home equity	25,085		24,971		25,132		25,500		26,123
Residential real estate	21,821		21,082		20,092		19,107		18,657
Automobile	16,754		16,004		15,612		14,707		14,419
Credit card	7,308		6,815		6,511		6,267		6,357
Education	3,336		3,461		3,555		3,707		3,822
Other consumer	4,937		4,856		4,710		4,563		4,585
Total consumer lending	79,241		77,189		75,612		73,851		73,963
Total loans	$	239,843	$	237,377	$	237,215	$	232,293	$	226,245

(a) Includes loans to customers in the real estate and construction industries.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 6

Allowance for Loan and Lease Losses (Unaudited)

Table 7: Change in Allowance for Loan and Lease Losses



	December 31			September 30			June 30			March 31			December 31
Three months ended - dollars in millions	2019			2019			2019			2019			2018
Beginning balance	$	2,738		$	2,721		$	2,692		$	2,629		$	2,584
Gross charge-offs:
Commercial	(67		)	(41		)	(50		)	(25		)	(30		)
Commercial real estate	(2		)	(11		)	(2		)	(3		)
Equipment lease financing	(9		)	(2		)	(1		)	(3		)	(2		)
Home equity	(16		)	(11		)	(18		)	(23		)	(25		)
Residential real estate	(4		)	(1		)	(2		)	(2		)	3
Automobile	(78		)	(71		)	(54		)	(58		)	(54		)
Credit card	(70		)	(61		)	(65		)	(67		)	(56		)
Education	(6		)	(7		)	(7		)	(6		)	(7		)
Other consumer	(39		)	(36		)	(28		)	(28		)	(29		)
Total gross charge-offs	(291		)	(241		)	(227		)	(215		)	(200		)
Recoveries:
Commercial	14			14			17			14			17
Commercial real estate	3			3			2			3			6
Equipment lease financing	2			2			2			2			2
Home equity	18			20			18			18			31
Residential real estate	3			4			4			3			3
Automobile	29			30			29			26			21
Credit card	6			7			7			7			6
Education	2			2			2			2			2
Other consumer	5			4			4			4			5
Total recoveries	82			86			85			79			93
Net (charge-offs) / recoveries:
Commercial	(53		)	(27		)	(33		)	(11		)	(13		)
Commercial real estate	1			(8		)							6
Equipment lease financing	(7		)				1			(1		)
Home equity	2			9						(5		)	6
Residential real estate	(1		)	3			2			1			6
Automobile	(49		)	(41		)	(25		)	(32		)	(33		)
Credit card	(64		)	(54		)	(58		)	(60		)	(50		)
Education	(4		)	(5		)	(5		)	(4		)	(5		)
Other consumer	(34		)	(32		)	(24		)	(24		)	(24		)
Total net (charge-offs)	(209		)	(155		)	(142		)	(136		)	(107		)
Provision for credit losses	221			183			180			189			148
Net (increase) / decrease in allowance for unfunded loan commitments and letters of credit	(14		)	(13		)	(12		)	6			3
Other	6			2			3			4			1
Ending balance	$	2,742		$	2,738		$	2,721		$	2,692		$	2,629
Supplemental Information
Net charge-offs to average loans (annualized)	.35		%	.26		%	.24		%	.24		%	.19		%
Allowance for loan and lease losses to total loans	1.14		%	1.15		%	1.15		%	1.16		%	1.16		%
Commercial lending net charge-offs	$	(59	)	$	(35	)	$	(32	)	$	(12	)	$	(7	)
Consumer lending net charge-offs	(150		)	(120		)	(110		)	(124		)	(100		)
Total net charge-offs	$	(209	)	$	(155	)	$	(142	)	$	(136	)	$	(107	)
Net charge-offs to average loans (annualized)
Commercial lending	.15		%	.09		%	.08		%	.03		%	.02		%
Consumer lending	.76		%	.62		%	.59		%	.68		%	.54		%



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 7

Details of Nonperforming Assets (Unaudited)

Table 8: Nonperforming Assets by Type



	December 31			September 30			June 30			March 31			December 31
Dollars in millions	2019			2019			2019			2019			2018
Nonperforming loans, including TDRs
Commercial lending
Commercial
Retail/wholesale trade	$	74		$	61		$	42		$	35		$	38
Manufacturing	102			109			88			88			54
Service providers	53			55			53			52			50
Real estate related (a)	24			33			19			16			17
Health care	17			17			15			19			20
Transportation and warehousing	18			13			21			8			8
Other industries	137			203			203			151			159
Total commercial	425			491			441			369			346
Commercial real estate	44			75			93			54			75
Equipment lease financing	32			10			6			7			11
Total commercial lending	501			576			540			430			432
Consumer lending (b)
Home equity	669			685			712			763			797
Residential real estate	315			325			339			339			350
Automobile	135			128			118			107			100
Credit card	11			9			8			7			7
Other consumer	4			5			7			7			8
Total consumer lending	1,134			1,152			1,184			1,223			1,262
Total nonperforming loans (c)	1,635			1,728			1,724			1,653			1,694
OREO and foreclosed assets	117			119			126			132			114
Total nonperforming assets	$	1,752		$	1,847		$	1,850		$	1,785		$	1,808
Nonperforming loans to total loans	.68		%	.73		%	.73		%	.71		%	.75		%
Nonperforming assets to total loans, OREO and foreclosed assets	.73		%	.78		%	.78		%	.77		%	.80		%
Nonperforming assets to total assets	.43		%	.45		%	.46		%	.45		%	.47		%
Allowance for loan and lease losses to nonperforming loans	168		%	158		%	158		%	163		%	155		%


(a)	Includes loans related to customers in the real estate and construction industries.


(b)	Excludes most unsecured consumer loans and lines of credit, which are charged off after 120 to 180 days past due and are not placed on nonperforming status.


(c)	Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale, loans accounted for under the fair value option and purchased impaired loans.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 8

Details of Nonperforming Assets (Unaudited) (Continued)

Table 9: Change in Nonperforming Assets



	October 1, 2019			July 1, 2019			April 1, 2019			January 1, 2019			October 1, 2018
In millions	December 31, 2019			September 30, 2019			June 30, 2019			March 31, 2019			December 31, 2018
Beginning balance	$	1,847		$	1,850		$	1,785		$	1,808		$	1,825
New nonperforming assets	357			290			408			287			325
Charge-offs and valuation adjustments	(218		)	(112		)	(170		)	(164		)	(148		)
Principal activity, including paydowns and payoffs	(157		)	(122		)	(101		)	(92		)	(97		)
Asset sales and transfers to loans held for sale	(21		)	(34		)	(27		)	(13		)	(38		)
Returned to performing status	(56		)	(25		)	(45		)	(41		)	(59		)
Ending balance	$	1,752		$	1,847		$	1,850		$	1,785		$	1,808

Table 10: Largest Individual Nonperforming Assets (a)



December 31, 2019 - Dollars in millions
Ranking	Outstandings		Industry
1	$	29	Retail Trade
2	27		Mining, Quarrying, and Oil and Gas Extraction
3	26		Manufacturing
4	21		Mining, Quarrying, and Oil and Gas Extraction
5	16		Manufacturing
6	15		Service Providers
7	14		Accommodation and Food Services
8	13		Mining, Quarrying, and Oil and Gas Extraction
9	11		Manufacturing
10	11		Manufacturing
Total	$	183
As a percent of total nonperforming assets			10%

(a) Amounts shown are not net of related allowance for loan and lease losses, if applicable.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 9

Accruing Loans Past Due (Unaudited)

Table 11: Accruing Loans Past Due 30 to 59 Days (a)



	Amount										Percent of Total Outstandings
	Dec. 31		Sept. 30		Jun. 30		Mar. 31		Dec. 31		Dec. 31		Sept. 30		Jun. 30		Mar. 31		Dec. 31
Dollars in millions	2019		2019		2019		2019		2018		2019		2019		2019		2019		2018
Commercial	$	102	$	82	$	105	$	80	$	82	.08	%	.07	%	.08	%	.07	%	.07	%
Commercial real estate	4		3		9		43		6		.01	%	.01	%	.03	%	.15	%	.02	%
Equipment lease financing	49		6		7		84		56		.68	%	.08	%	.09	%	1.14	%	.77	%
Home equity	58		53		56		59		66		.23	%	.21	%	.22	%	.23	%	.25	%
Residential real estate
Non government insured	90		76		80		91		75		.41	%	.36	%	.40	%	.48	%	.40	%
Government insured	50		53		54		62		60		.23	%	.25	%	.27	%	.32	%	.32	%
Automobile	178		145		119		97		113		1.06	%	.91	%	.76	%	.66	%	.78	%
Credit card	60		56		47		45		46		.82	%	.82	%	.72	%	.72	%	.72	%
Education
Non government insured	7		8		7		9		10		.21	%	.23	%	.20	%	.24	%	.26	%
Government insured	48		48		53		54		59		1.44	%	1.39	%	1.49	%	1.46	%	1.54	%
Other consumer	15		17		13		10		12		.30	%	.35	%	.28	%	.22	%	.26	%
Total	$	661	$	547	$	550	$	634	$	585	.28	%	.23	%	.23	%	.27	%	.26	%

Table 12: Accruing Loans Past Due 60 to 89 Days (a)



	Amount										Percent of Total Outstandings
	Dec. 31		Sept. 30		Jun. 30		Mar. 31		Dec. 31		Dec. 31		Sept. 30		Jun. 30		Mar. 31		Dec. 31
Dollars in millions	2019		2019		2019		2019		2018		2019		2019		2019		2019		2018
Commercial	$	30	$	49	$	33	$	25	$	54	.02	%	.04	%	.03	%	.02	%	.05	%
Commercial real estate	1		3		1		1		3		.00	%	.01	%	.00	%	.00	%	.01	%
Equipment lease financing	5		4		3		5		12		.07	%	.05	%	.04	%	.07	%	.16	%
Home equity	24		24		20		21		25		.10	%	.10	%	.08	%	.08	%	.10	%
Residential real estate
Non government insured	16		20		20		13		17		.07	%	.09	%	.10	%	.07	%	.09	%
Government insured	53		57		55		49		56		.24	%	.27	%	.27	%	.26	%	.30	%
Automobile	47		36		29		26		29		.28	%	.22	%	.19	%	.18	%	.20	%
Credit card	37		33		29		28		29		.51	%	.48	%	.45	%	.45	%	.46	%
Education
Non government insured	3		5		4		5		4		.09	%	.14	%	.11	%	.13	%	.10	%
Government insured	31		30		32		33		37		.93	%	.87	%	.90	%	.89	%	.97	%
Other consumer	11		8		9		6		5		.22	%	.16	%	.19	%	.13	%	.11	%
Total	$	258	$	269	$	235	$	212	$	271	.11	%	.11	%	.10	%	.09	%	.12	%

Table 13: Accruing Loans Past Due 90 Days or More (a)



	Amount										Percent of Total Outstandings
	Dec. 31		Sept. 30		Jun. 30		Mar. 31		Dec. 31		Dec. 31		Sept. 30		Jun. 30		Mar. 31		Dec. 31
Dollars in millions	2019		2019		2019		2019		2018		2019		2019		2019		2019		2018
Commercial	$	85	$	64	$	59	$	71	$	52	.07	%	.05	%	.05	%	.06	%	.04	%
Residential real estate
Non government insured	14		15		13		18		19		.06	%	.07	%	.06	%	.09	%	.10	%
Government insured	301		287		293		305		344		1.38	%	1.36	%	1.46	%	1.60	%	1.84	%
Automobile	18		11		8		10		12		.11	%	.07	%	.05	%	.07	%	.08	%
Credit card	67		57		48		53		53		.92	%	.84	%	.74	%	.85	%	.83	%
Education
Non government insured	2		3		3		3		3		.06	%	.09	%	.08	%	.08	%	.08	%
Government insured	89		87		92		123		138		2.67	%	2.51	%	2.59	%	3.32	%	3.61	%
Other consumer	9		8		8		7		8		.18	%	.16	%	.17	%	.15	%	.17	%
Total	$	585	$	532	$	524	$	590	$	629	.24	%	.22	%	.22	%	.25	%	.28	%

(a) Excludes loans held for sale and purchased impaired loans.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 10

Business Segment Descriptions (Unaudited)

Retail Banking provides deposit, lending, brokerage, insurance services, investment management and cash management products and services to consumer and small business customers. Our customers are serviced through our branch network, ATMs, call centers, online banking and mobile channels. The branch network is located primarily in markets across the Mid-Atlantic, Midwest and Southeast. In 2018, Retail Banking launched its national expansion strategy designed to grow customers with digitally-led banking and an ultra-thin branch network in markets outside of our existing retail branch network. Deposit products include checking, savings and money market accounts and certificates of deposit. Lending products include residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans and personal and small business loans and lines of credit. The residential mortgage loans are directly originated within our branch network and nationwide, and are typically underwritten to government agency and/or third-party standards, and either sold, servicing retained, or held on our balance sheet. Brokerage, investment management and cash management products and services include managed, education, retirement and trust accounts.

Corporate & Institutional Banking provides lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, and government and not-for-profit entities. Lending products include secured and unsecured loans, letters of credit and equipment leases. Treasury management services include cash and investment management, receivables management, disbursement services, funds transfer services, information reporting and global trade services. Capital markets-related products and services include foreign exchange, derivatives, securities underwriting, loan syndications, mergers and acquisitions advisory and equity capital markets advisory related services. We also provide commercial loan servicing and technology solutions for the commercial real estate finance industry. Products and services are provided nationally.

Asset Management Group provides personal wealth management for high net worth and ultra high net worth clients and institutional asset management. The Asset Management group is comprised of three distinct operating units:


•	Wealth management provides products and services to individuals and their families including investment and retirement planning, customized investment management, private banking, and trust management and administration for individuals and their families.


•	Our Hawthorn unit provides multi-generational family planning including estate, financial, tax planning, fiduciary, investment management and consulting, private banking, personal administrative services, asset custody and customized performance reporting to ultra high net worth clients.


•	Institutional asset management provides outsourced chief investment officer, custody, private real estate, cash and fixed income client solutions, and fiduciary retirement advisory services to institutional clients including corporations, healthcare systems, insurance companies, unions, municipalities and non-profits.

BlackRock, in which we hold an equity investment, is a leading publicly-traded investment management firm providing a broad range of investment and technology services to institutional and retail clients worldwide. Using a diverse platform of alpha-seeking active, index and cash management investment strategies across asset classes, BlackRock tailors investment outcomes and asset allocation solutions for clients. Product offerings include single- and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments. BlackRock also offers technology services, including an investment and risk management technology platform, as well as advisory services and solutions to a broad base of institutional and wealth management clients. Our equity investment in BlackRock provides us with an additional source of noninterest income and increases our overall revenue diversification. BlackRock is a publicly-traded company, and additional information regarding its business is available in its filings with the Securities and Exchange Commission (SEC). At December 31, 2019, our economic interest in BlackRock was 22%.

Table 14: Period End Employees



	December 31	September 30	June 30	March 31	December 31
	2019	2019	2019	2019	2018
Full-time employees
Retail Banking	28,270	28,279	28,671	28,992	29,180
Other full-time employees	21,747	21,701	21,571	21,652	21,748
Total full-time employees	50,017	49,980	50,242	50,644	50,928
Part-time employees
Retail Banking	1,759	1,823	2,037	1,887	1,974
Other part-time employees	142	153	518	180	161
Total part-time employees	1,901	1,976	2,555	2,067	2,135
Total	51,918	51,956	52,797	52,711	53,063



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 11

Table 15: Summary of Business Segment Income and Revenue (Unaudited) (a)



	Three months ended										Year ended
	December 31		September 30		June 30		March 31		December 31		December 31		December 31
In millions	2019		2019		2019		2019		2018		2019		2018
Income
Retail Banking	$	277	$	347	$	325	$	264	$	313	$	1,213	$	1,064
Corporate & Institutional Banking	649		645		602		552		651		2,448		2,508
Asset Management Group	91		46		80		45		42		262		202
Other, including BlackRock (b)	364		354		367		410		345		1,495		1,572
Net income	$	1,381	$	1,392	$	1,374	$	1,271	$	1,351	$	5,418	$	5,346

Revenue
Retail Banking	$	2,054	$	2,137	$	2,033	$	1,944	$	2,015	$	8,168	$	7,750
Corporate & Institutional Banking	1,615		1,584		1,578		1,474		1,562		6,251		6,043
Asset Management Group	352		286		354		287		286		1,279		1,179
Other, including BlackRock (b)	588		486		474		581		477		2,129		2,160
Total revenue	$	4,609	$	4,493	$	4,439	$	4,286	$	4,340	$	17,827	$	17,132

(a)

Our business information is presented based on our internal management reporting practices. Net interest income in business segment results reflects PNC’s internal funds transfer pricing methodology. Assets receive a funding charge and liabilities and capital receive a funding credit based on a transfer pricing methodology that incorporates product repricing characteristics, tenor and other factors.


(b)	Includes earnings and gains or losses related to PNC's equity investment in BlackRock and residual activities that do not meet the criteria for disclosure as a separate reportable business. We provide additional information on these activities in our Form 10-K and Form 10-Q filings with the SEC.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 12

Table 16: Retail Banking (Unaudited) (a)



	Three months ended															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions	2019			2019			2019			2019			2018			2019			2018
Income Statement
Net interest income	$	1,402		$	1,393		$	1,376		$	1,349		$	1,319		$	5,520		$	5,119
Noninterest income	652			744			657			595			696			2,648			2,631
Total revenue	2,054			2,137			2,033			1,944			2,015			8,168			7,750
Provision for credit losses	161			147			81			128			119			517			373
Noninterest expense	1,530			1,536			1,527			1,468			1,487			6,061			5,978
Pretax earnings	363			454			425			348			409			1,590			1,399
Income taxes	86			107			100			84			96			377			335
Earnings	$	277		$	347		$	325		$	264		$	313		$	1,213		$	1,064
Average Balance Sheet
Loans held for sale	$	747		$	760		$	554		$	441		$	559		$	627		$	636
Loans
Consumer
Home equity	$	22,590		$	22,434		$	22,620		$	22,990		$	23,407		$	22,657		$	23,991
Automobile	16,427			15,761			15,222			14,608			14,375			15,510			13,827
Education	3,428			3,538			3,665			3,816			3,918			3,611			4,135
Credit cards	6,985			6,624			6,376			6,204			6,112			6,550			5,838
Other	2,418			2,309			2,179			2,068			1,985			2,244			1,843
Total consumer	51,848			50,666			50,062			49,686			49,797			50,572			49,634
Commercial and commercial real estate	10,323			10,379			10,481			10,461			10,339			10,410			10,383
Residential mortgage	17,352			16,630			15,737			15,034			14,637			16,196			13,985
Total loans	$	79,523		$	77,675		$	76,280		$	75,181		$	74,773		$	77,178		$	74,002
Total assets	$	94,967		$	93,222		$	92,350		$	91,255		$	91,164		$	92,959		$	89,739
Deposits
Noninterest-bearing demand	$	32,674		$	32,092		$	31,516		$	30,389		$	31,011		$	31,675		$	30,670
Interest-bearing demand	41,689			41,420			42,735			42,477			41,655			42,077			42,042
Money market	23,927			24,807			25,799			26,773			27,256			25,317			29,798
Savings	59,877			57,752			56,075			53,100			49,771			56,722			47,019
Certificates of deposit	12,598			12,766			12,704			12,381			12,153			12,613			12,007
Total deposits	$	170,765		$	168,837		$	168,829		$	165,120		$	161,846		$	168,404		$	161,536
Performance Ratios
Return on average assets	1.16		%	1.48		%	1.41		%	1.17		%	1.36		%	1.30		%	1.19		%
Noninterest income to total revenue	32		%	35		%	32		%	31		%	35		%	32		%	34		%
Efficiency	74		%	72		%	75		%	76		%	74		%	74		%	77		%


(a)	See note (a) on page 11.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 13

Retail Banking (Unaudited) (Continued)



	Three months ended															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions, except as noted	2019			2019			2019			2019			2018			2019			2018
Supplemental Noninterest Income Information
Consumer services	$	293		$	305		$	299		$	277		$	291		$	1,174		$	1,128
Brokerage	$	89		$	92		$	86		$	89		$	90		$	356		$	350
Residential mortgage	$	87		$	134		$	82		$	65		$	59		$	368		$	316
Service charges on deposits	$	183		$	178		$	164		$	162		$	185		$	687		$	688
Residential Mortgage Information
Residential mortgage servicing statistics (in billions, except as noted) (a)
Serviced portfolio balance (b)	$	120		$	123		$	124		$	123		$	125
Serviced portfolio acquisitions	$	3		$	3		$	5		$	1		$	2		$	12		$	12
MSR asset value (b)	$	1.0		$	0.9		$	1.0		$	1.1		$	1.3
MSR capitalization value (in basis points) (b)	83			72			80			92			100
Servicing income: (in millions)
Servicing fees, net (c)	$	39		$	44		$	42		$	53		$	49		$	178		$	181
Mortgage servicing rights valuation, net of economic hedge	$	9		$	40		$	7		$	(9	)	$	(19	)	$	47		$	3
Residential mortgage loan statistics
Loan origination volume (in billions)	$	3.5		$	3.4		$	2.9		$	1.7		$	1.6		$	11.5		$	7.4
Loan sale margin percentage	2.42		%	2.59		%	2.24		%	2.35		%	2.49		%	2.41		%	2.41		%
Percentage of originations represented by:
Purchase volume (d)	40		%	44		%	54		%	56		%	67		%	47		%	67		%
Refinance volume	60		%	56		%	46		%	44		%	33		%	53		%	33		%
Other Information (b)
Customer-related statistics (average)
Non-teller deposit transactions (e)	58		%	58		%	56		%	57		%	55		%	57		%	55		%
Digital consumer customers (f)	71		%	70		%	69		%	68		%	67		%	69		%	66		%
Credit-related statistics
Nonperforming assets	$	1,046		$	1,056		$	1,074		$	1,109		$	1,126
Net charge-offs	$	154		$	128		$	120		$	132		$	112		$	534		$	420
Other statistics
ATMs	9,091			9,102			9,072			9,112			9,162
Branches (g)	2,296			2,310			2,321			2,347			2,372
Brokerage account client assets (in billions) (h)	$	54		$	52		$	52		$	51		$	47


(a)	Represents mortgage loan servicing balances for third parties and the related income.


(b)	Presented as of period end, except for customer-related statistics, which are quarterly averages, and net charge-offs, which are for the three months ended.


(c)	Servicing fees net of impact of decrease in MSR value due to passage of time, including the impact from both regularly scheduled loan payments, prepayments, and loans that were paid down or paid off during the period.


(d)	Mortgages with borrowers as part of residential real estate purchase transactions.


(e)	Percentage of total consumer and business banking deposit transactions processed at an ATM or through our mobile banking application.


(f)	Represents consumer checking relationships that process the majority of their transactions through non-teller channels.


(g)	Excludes stand-alone mortgage offices and satellite offices (e.g., drive-ups, electronic branches and retirement centers) that provide limited products and/or services.


(h)	Includes cash and money market balances.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 14

Table 17: Corporate & Institutional Banking (Unaudited) (a)



	Three months ended															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions	2019			2019			2019			2019			2018			2019			2018
Income Statement
Net interest income	$	969		$	930		$	917		$	898		$	930		$	3,714		$	3,637
Noninterest income	646			654			661			576			632			2,537			2,406
Total revenue	1,615			1,584			1,578			1,474			1,562			6,251			6,043
Provision for credit losses (benefit)	65			48			100			71			42			284			85
Noninterest expense	726			703			698			686			687			2,813			2,706
Pretax earnings	824			833			780			717			833			3,154			3,252
Income taxes	175			188			178			165			182			706			744
Earnings	$	649		$	645		$	602		$	552		$	651		$	2,448		$	2,508
Average Balance Sheet
Loans held for sale	$	616		$	720		$	330		$	347		$	669		$	505		$	739
Loans
Commercial	$	114,113		$	114,701		$	113,702		$	108,641		$	106,082		$	112,809		$	103,285
Commercial real estate	26,586			26,570			26,224			25,971			26,183			26,340			26,569
Equipment lease financing	7,200			7,272			7,284			7,264			7,216			7,255			7,437
Total commercial lending	147,899			148,543			147,210			141,876			139,481			146,404			137,291
Consumer	11			13			16			20			22			15			42
Total loans	$	147,910		$	148,556		$	147,226		$	141,896		$	139,503		$	146,419		$	137,333
Total assets	$	167,555		$	168,193		$	163,897		$	157,169		$	156,997		$	164,243		$	154,119
Deposits
Noninterest-bearing demand	$	39,513		$	38,740		$	38,765		$	39,551		$	42,678		$	39,141		$	44,099
Interest-bearing demand	20,851			20,523			18,702			17,827			17,385			19,487			15,114
Money market	30,264			29,456			26,948			25,630			25,691			28,091			24,060
Other	7,916			7,100			6,109			5,547			6,038			6,676			5,136
Total deposits	$	98,544		$	95,819		$	90,524		$	88,555		$	91,792		$	93,395		$	88,409
Performance Ratios
Return on average assets	1.54		%	1.52		%	1.47		%	1.42		%	1.65		%	1.49		%	1.63		%
Noninterest income to total revenue	40		%	41		%	42		%	39		%	40		%	41		%	40		%
Efficiency	45		%	44		%	44		%	47		%	44		%	45		%	45		%
Other Information
Consolidated revenue from:
Treasury Management (b)	$	494		$	460		$	467		$	445		$	461		$	1,866		$	1,779
Capital Markets (b)	$	291		$	290		$	313		$	246		$	272		$	1,140		$	1,088
Commercial mortgage banking activities
Commercial mortgage loans held for sale (c)	$	24		$	38		$	20		$	15		$	29		$	97		$	107
Commercial mortgage loan servicing income (d)	71			71			65			54			68			261			247
Commercial mortgage servicing rights valuation, net of economic hedge (e)	2			1			11			5			1			19			27
Total	$	97		$	110		$	96		$	74		$	98		$	377		$	381
MSR asset value (f)	$	649		$	595		$	630		$	681		$	726
Average Loans by C&IB business (g)
Corporate Banking	$	75,665		$	74,883		$	74,366		$	71,089		$	67,567		$	74,016		$	66,503
Real Estate	36,908			38,172			37,143			36,357			38,141			37,149			37,571
Business Credit	22,900			22,824			22,877			21,728			21,431			22,586			20,800
Commercial Banking	7,793			7,947			8,080			8,118			8,031			7,984			8,109
Other	4,644			4,730			4,760			4,604			4,333			4,684			4,350
Total average loans	$	147,910		$	148,556		$	147,226		$	141,896		$	139,503		$	146,419		$	137,333
Credit-related statistics
Nonperforming assets (f)	$	444		$	526		$	497		$	388		$	377
Net charge-offs	$	47		$	30		$	23		$	5		$	2		$	105		$	10


(a)	See note (a) on page 11.


(b)	Amounts reported in net interest income and noninterest income.


(c)	Represents other noninterest income for valuations on commercial mortgage loans held for sale and related commitments, derivative valuations, originations fees, gains on sale of loans held for sale and net interest income on loans held for sale.


(d)	Represents net interest income and noninterest income (primarily in corporate service fees) from loan servicing net of reduction in commercial mortgage servicing rights due to amortization expense and payoffs. Commercial mortgage servicing rights valuation, net of economic hedge is shown separately.


(e)	Amounts are reported in corporate service fees.


(f)	Presented as of period end.


(g)	As a result of our first quarter 2019 C&IB business realignment, average loans previously reported as Equipment Finance were reclassified to other C&IB businesses for all periods presented.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 15

Table 18: Asset Management Group (Unaudited) (a)



	Three months ended															Year ended
	December 31			September 30			June 30			March 31			December 31			December 31			December 31
Dollars in millions, except as noted	2019			2019			2019			2019			2018			2019			2018
Income Statement
Net interest income	$	80		$	70		$	68		$	70		$	70		$	288		$	287
Noninterest income	272			216			286			217			216			991			892
Total revenue	352			286			354			287			286			1,279			1,179
Provision for credit losses (benefit)	1			(1		)	—			(1		)	—			(1		)	2
Noninterest expense	232			228			249			230			232			939			913
Pretax earnings	119			59			105			58			54			341			264
Income taxes	28			13			25			13			12			79			62
Earnings	$	91		$	46		$	80		$	45		$	42		$	262		$	202
Average Balance Sheet
Loans
Consumer	$	4,145		$	4,207		$	4,216		$	4,362		$	4,522		$	4,232		$	4,656
Commercial and commercial real estate	793			758			731			752			705			759			727
Residential mortgage	2,193			1,980			1,792			1,723			1,666			1,923			1,588
Total loans	$	7,131		$	6,945		$	6,739		$	6,837		$	6,893		$	6,914		$	6,971
Total assets	$	7,697		$	7,331		$	7,150		$	7,259		$	7,328		$	7,360		$	7,423
Deposits
Noninterest-bearing demand	$	1,407		$	1,299		$	1,347		$	1,388		$	1,469		$	1,360		$	1,458
Interest-bearing demand	6,846			3,393			2,891			3,076			3,055			4,060			3,323
Money market	1,773			1,740			1,785			2,036			2,001			1,832			2,253
Savings	6,950			6,302			5,875			5,723			5,294			6,216			4,890
Other	898			893			797			697			634			822			466
Total deposits	$	17,874		$	13,627		$	12,695		$	12,920		$	12,453		$	14,290		$	12,390
Performance Ratios
Return on average assets	4.69		%	2.49		%	4.49		%	2.51		%	2.27		%	3.56		%	2.72		%
Noninterest income to total revenue	77		%	76		%	81		%	76		%	76		%	77		%	76		%
Efficiency	66		%	80		%	70		%	80		%	81		%	73		%	77		%
Other Information
Nonperforming assets (b)	$	39		$	42		$	45		$	48		$	46
Net charge-offs	$	4		$	—		$	—		$	1		$	1		$	5		$	9
Client Assets Under Administration (in billions) (b) (c)
Discretionary client assets under management	$	154		$	163		$	162		$	158		$	148
Nondiscretionary client assets under administration	143			135			132			130			124
Total	$	297		$	298		$	294		$	288		$	272
Discretionary client assets under management
Personal	$	99		$	98		$	99		$	95		$	87
Institutional	55			65			63			63			61
Total	$	154		$	163		$	162		$	158		$	148


(a)	See note (a) on page 11.


(b)	As of period end.


(c)	Excludes brokerage account client assets.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 16

Glossary of Terms

Adjusted average total assets - Primarily consisted of total average quarterly (or annual) assets plus (less) unrealized losses (gains) on investment securities, less goodwill and certain other intangible assets (net of eligible deferred taxes).

Basel III common equity Tier 1 capital - Common stock plus related surplus, net of treasury stock, plus retained earnings, plus accumulated other comprehensive income for securities currently and those transferred from available for sale and pension and other postretirement benefit plans, subject to phase-in limits, less goodwill, net of associated deferred tax liabilities, less other disallowed intangibles, net of deferred tax liabilities and plus/less other adjustments. Significant common stock investments in unconsolidated financial institutions, as well as mortgage servicing rights and deferred tax assets, must then be deducted to the extent such items individually exceed 10%, or in the aggregate exceed 15%, of our adjusted Basel III common equity Tier 1 capital.

Basel III common equity Tier 1 capital ratio - Common equity Tier 1 capital divided by period-end risk-weighted assets (as applicable).

Basel III Tier 1 capital - Common equity Tier 1 capital, plus qualifying preferred stock, plus certain trust preferred capital securities, plus certain noncontrolling interests that are held by others and plus/less other adjustments.

Basel III Tier 1 capital ratio - Tier 1 capital divided by period-end risk-weighted assets (as applicable).

Basel III Total capital - Tier 1 capital plus qualifying subordinated debt, plus certain trust preferred securities, plus, under the Basel III transitional rules and the standardized approach, the allowance for loan and lease losses included in Tier 2 capital and other.

Basel III Total capital ratio - Total capital divided by period-end risk-weighted assets (as applicable).

Charge-off - Process of removing a loan or portion of a loan from our balance sheet because it is considered uncollectible. We also record a charge-off when a loan is transferred from portfolio holdings to held for sale by reducing the loan carrying amount to the fair value of the loan, if fair value is less than carrying amount.

Combined loan-to-value ratio (CLTV) - This is the aggregate principal balance(s) of the mortgages on a property divided by its appraised value or purchase price.

Common shareholders’ equity - Total shareholders' equity less the liquidation value of preferred stock.

Credit valuation adjustment - Represents an adjustment to the fair value of our derivatives for our own and counterparties’ non-performance risk.

Criticized commercial loans - Loans with potential or identified weaknesses based upon internal risk ratings that comply with the regulatory classification definitions of “Special Mention,” “Substandard” or “Doubtful.”

Discretionary client assets under management - Assets over which we have sole or shared investment authority for our customers/clients. We do not include these assets on our Consolidated Balance Sheet.

Duration of equity - An estimate of the rate sensitivity of our economic value of equity. A negative duration of equity is associated with asset sensitivity (i.e., positioned for rising interest rates), while a positive value implies liability sensitivity (i.e., positioned for declining interest rates). For example, if the duration of equity is -1.5 years, the economic value of equity increases by 1.5% for each 100 basis point increase in interest rates.

Earning assets - Assets that generate income, which include: interest-earning deposits with banks; loans held for sale; loans; investment securities; and certain other assets.

Effective duration - A measurement, expressed in years, that, when multiplied by a change in interest rates, would approximate the percentage change in value of on- and off- balance sheet positions.

Efficiency - Noninterest expense divided by total revenue.

Fair value - The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 17

Fee income - When referring to the components of Noninterest income, we use the term fee income to refer to the following categories within Noninterest income: Asset management; Consumer services; Corporate services; Residential mortgage; and Service charges on deposits.

FICO score - A credit bureau-based industry standard score created by Fair Isaac Co. which predicts the likelihood of borrower default. We use FICO scores both in underwriting and assessing credit risk in our consumer lending portfolio. Lower FICO scores indicate likely higher risk of default, while higher FICO scores indicate likely lower risk of default. FICO scores are updated on a periodic basis.

Futures and forward contracts - Contracts in which the buyer agrees to purchase and the seller agrees to deliver a specific financial instrument at a predetermined price or yield. May be settled either in cash or by delivery of the underlying financial instrument.

GAAP - Accounting principles generally accepted in the United States of America.

Impaired loans - Loans are determined to be impaired when, based on current information and events, it is probable that all contractually required payments will not be collected. Impaired loans include commercial nonperforming loans and consumer and commercial TDRs, regardless of nonperforming status. Excluded from impaired loans are nonperforming leases, loans held for sale, loans accounted for under the fair value option, smaller balance homogenous type loans and purchased impaired loans.

Leverage ratio - Tier 1 capital divided by average quarterly adjusted total assets.

LIBOR - Acronym for London InterBank Offered Rate. LIBOR is the average interest rate charged when banks in the London wholesale money market (or interbank market) borrow unsecured funds from each other. LIBOR rates are used as a benchmark for interest rates on a global basis. Our product set includes loans priced using LIBOR as a benchmark.

Loan-to-value ratio (LTV) - A calculation of a loan's collateral coverage that is used both in underwriting and assessing credit risk in our lending portfolio. LTV is the sum total of loan obligations secured by collateral divided by the market value of that same collateral. Market values of the collateral are based on an independent valuation of the collateral. For example, a LTV of less than 90% is better secured and has less credit risk than a LTV of greater than or equal to 90%.

Loss given default (LGD) - An estimate of loss, net of recovery based on collateral type, collateral value, loan exposure, and other factors. Each loan has its own LGD. The LGD risk rating measures the percentage of exposure of a specific credit obligation that we expect to lose if default occurs. LGD is net of recovery, through any means, including but not limited to the liquidation of collateral or deficiency judgments rendered from foreclosure or bankruptcy proceedings.

Nonaccrual loans - Loans for which we do not accrue interest income. Nonaccrual loans include nonperforming loans, in addition to loans accounted for under fair value option and loans accounted for as held for sale for which full collection of contractual principal and/or interest is not probable.

Nondiscretionary client assets under administration - Assets we hold for our customers/clients in a nondiscretionary, custodial capacity. We do not include these assets on our Consolidated Balance Sheet.

Nonperforming assets - Nonperforming assets include nonperforming loans, OREO and foreclosed assets, but exclude certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest, loans held for sale, loans accounted for under the fair value option and purchased impaired loans. We do not accrue interest income on assets classified as nonperforming.

Nonperforming loans - Loans accounted for at amortized cost for which we do not accrue interest income. Nonperforming loans include loans to commercial, commercial real estate, equipment lease financing, home equity, residential real estate, automobile, credit card and other consumer customers as well as TDRs which have not returned to performing status. Nonperforming loans exclude certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest, loans held for sale, loans accounted for under the fair value option and purchased impaired loans. Nonperforming loans exclude purchased impaired loans as we are currently accreting interest income over the expected life of the loans.

Notional amount - A number of currency units, shares, or other units specified in a derivative contract.

Operating leverage - The period to period dollar or percentage change in total revenue (GAAP basis) less the dollar or percentage change in noninterest expense. A positive variance indicates that revenue growth exceeded expense growth (i.e., positive operating leverage) while a negative variance implies expense growth exceeded revenue growth (i.e., negative operating leverage).



THE PNC FINANCIAL SERVICES GROUP, INC.		Page 18

Options - Contracts that grant the purchaser, for a premium payment, the right, but not the obligation, to either purchase or sell the associated financial instrument at a set price during a specified period or at a specified date in the future.

Other real estate owned (OREO) and foreclosed assets - Assets taken in settlement of troubled loans primarily through deed-in-lieu of foreclosure or foreclosure. Foreclosed assets include real and personal property. Excludes certain assets that have a government-guarantee which are classified as other receivables.

Probability of default (PD) - An internal risk rating that indicates the likelihood that a credit obligor will enter into default status.

Recovery - Cash proceeds received on a loan that we had previously charged off. We credit the amount received to the allowance for loan and lease losses.

Risk-weighted assets - Computed by the assignment of specific risk-weights (as defined by the Board of Governors of the Federal Reserve System) to assets and off-balance sheet instruments.

Servicing rights - An intangible asset or liability created by an obligation to service assets for others. Typical servicing rights include the right to receive a fee for collecting and forwarding payments on loans and related taxes and insurance premiums held in escrow.

Taxable-equivalent interest income - The interest income earned on certain assets that is completely or partially exempt from federal income tax. These tax-exempt instruments typically yield lower returns than taxable investments. To provide more meaningful comparisons of yields and margins for all interest-earning assets, we use interest income on a taxable-equivalent basis in calculating average yields and net interest margins by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on other taxable investments. This adjustment is not permitted under GAAP on the Consolidated Income Statement.

Troubled debt restructuring (TDR) - A loan whose terms have been restructured in a manner that grants a concession to a borrower experiencing financial difficulties.

Yield curve - A graph showing the relationship between the yields on financial instruments or market indices of the same credit quality with different maturities. For example, a “normal” or “positive” yield curve exists when long-term bonds have higher yields than short-term bonds. A “flat” yield curve exists when yields are the same for short-term and long-term bonds. A “steep” yield curve exists when yields on long-term bonds are significantly higher than on short-term bonds. An “inverted” or “negative” yield curve exists when short-term bonds have higher yields than long-term bonds.