Unlike some of its peers, fourth-quarter income at The PNC Financial Services Group Inc. benefited from the new tax law. But home lending dropped, mortgage earnings fell and residential delinquency rose.
Fourth-quarter earnings data released Tuesday indicate that income before taxes and non-controlling interests fell to $1.1 billion from $1.4 billion in the final three months of 2016.
Earnings at the Pittsburgh-based financial institution also weakened compared to the previous three-month period, when pre-tax income came to $1.5 billion.
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From:: Financing