PNC BANK, N.A. CHANGES PRIME RATE

Rhea-AI Summary

PNC Bank, N.A. has announced an increase in its prime lending rate to 8.50%, effective from July 27, 2023.

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• PNC Bank has raised its prime lending rate to 8.50%, which could potentially increase interest income and boost profitability.

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• None.

PITTSBURGH, July 26, 2023 /PRNewswire/ -- PNC Bank, N.A., announced an increase in its prime lending rate. The new rate of 8.50% is effective tomorrow, July 27, 2023.

PNC Bank, N.A., 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:

Timothy Miller
(412) 762-4550
media.relations@pnc.com

 

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SOURCE PNC Financial Services Group, Inc.

FAQ

What is the new prime lending rate announced by PNC Bank?

The new prime lending rate announced by PNC Bank is 8.50%.

When does the new prime lending rate go into effect?

The new prime lending rate will be effective from July 27, 2023.

What impact could the increase in prime lending rate have on PNC Bank's profitability?

The increase in prime lending rate could potentially increase PNC Bank's interest income and boost its profitability.