PNC Financial profit doubles on tax gain

Jan 12 (Reuters) – Regional lender PNC Financial Services’ quarterly profit doubled, driven by a $911 million one-time benefit related to President Donald Trump’s new tax law.

The Pittsburgh, Pennsylvania-based bank said on Friday that net income attributable to diluted common shares rose to $2.01 billion in the fourth quarter ended Dec. 31, from $973 million a year earlier. reut.rs/2ASj9uc

Earnings per share rose to $4.18 from $1.97.

Analysts on average were looking for $2.20 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard
Orr

Source: Reuters

News

BRIEF-Moody's says Euro Area's economic recovery supports stable 2018 outlook

January 15, 2018 mmayha 0

Jan 15 (Reuters) – Moody‘s: * MOODY‘S SAYS EURO AREA‘S ECONOMIC RECOVERY SUPPORTS STABLE 2018 OUTLOOK, DESPITE PATCHY STRUCTURAL REFORM PROGRESS‍​ * MOODY‘S SAYS FORECASTS THAT EURO AREA GROWTH WILL AVERAGE 2.0 PERCENT IN 2018, […]

News

RPT-Germany to include yuan in FX reserves – c.banker

January 15, 2018 mmayha 0

(Repeats to more subscribers) HONG KONG, Jan 15 (Reuters) – Germany’s central bank has decided to include China’s currency, the yuan, in its foreign exchange reserves, Bundesbank board member Andreas Dombret said in Hong Kong […]

News

Singapore files more charges against Shell oil theft suspects

January 15, 2018 mmayha 0

SINGAPORE (Reuters) – A Singapore court on Monday filed additional charges against nine men accused in a large-scale oil theft at Shell’s biggest refinery, the latest development in an extensive investigation in the city-state. The […]

Be the first to comment

Leave a Reply