The PNC Financial Services Group, Inc. (PNC) RBC Capital Markets Global Financial Institutions Conference 2026 March 10, 2026 10:40 AM EDT
Company Participants
Michael Thomas
Conference Call Participants
Gerard Cassidy – RBC Capital Markets, Research Division
Presentation
Gerard Cassidy
RBC Capital Markets, Research Division
As many of you know, PNC Financial Services Group has a market cap of about $80 billion. Total assets now are about $574 billion. The stock trades at about 1.8x tangible book and it has over 2,400 branches throughout the United States.
With us today, we’re pleased to have Mike Thomas, Executive Vice President and Head of Corporate and Institutional Banking. He’s had a 27-year career with PNC and he has headed up the real estate area in the past as well as having many of their divisions like Midland loan services report up to them. So we’re really pleased that you’re able to join us today, Michael.
Michael Thomas
Thanks for having us. Great to be…
Gerard Cassidy
RBC Capital Markets, Research Division
Maybe let’s start off one of the topics for this year for the industry, specifically for PNC, it’s about commercial and industrial loan demand. And so can you talk to us about what you’re seeing? What are the drivers of that? And what’s the outlook you think for 2026?
Question-and-Answer Session
Michael Thomas
Yes. Well, we’ve had really good growth out of our C&I book. We have really 2 things going on last year. Once Liberation day came and the volatility entered the market, we do what we always do. We spend a lot of time with clients trying to help them kind of work their way through the difficulties. We thought we would have some struggles at the beginning of the year.
It was a little bit slower, but we came
