PNC Bank, N.A. Changes Prime Rate

Rhea-AI Summary

PNC Bank has announced a reduction in its prime lending rate to 7.50%, effective December 19, 2024. This change reflects an important adjustment in the bank's lending policies.

PNC, trading under NYSE: PNC, stands as one of the largest diversified financial institutions in the United States. The bank offers comprehensive financial services including retail and business banking, lending products, specialized corporate services, real estate finance, asset-based lending, wealth management, and asset management. Their business model emphasizes strong customer relationships and local service delivery.

PITTSBURGH, Dec. 18, 2024 /PRNewswire/ -- PNC Bank, N.A. announced a decrease in its prime lending rate. The new rate of 7.50% is effective tomorrow, Dec. 19, 2024.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACT:

Kristen Pillitteri
(412) 762.4550
kristen.pillitteri@pnc.com 

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SOURCE PNC Bank

FAQ

What is PNC Bank's new prime rate effective December 19, 2024?

PNC Bank's new prime lending rate is 7.50%, effective December 19, 2024.

How much did PNC Bank decrease its prime rate in December 2024?

The press release announces a decrease to 7.50% but does not specify the amount of the decrease from the previous rate.

What services does PNC Financial Services Group (NYSE: PNC) offer?

PNC offers retail and business banking, lending products, corporate banking, real estate finance, asset-based lending, wealth management, and asset management services.

When will PNC Bank's new prime rate take effect?

The new prime rate will take effect on December 19, 2024.

How does PNC Bank structure its service delivery?

PNC Bank structures its service delivery around customers and communities, focusing on strong relationships and local delivery of financial services.