(Bloomberg) -- PNC Financial Services Group Inc., the second-largest U.S. regional bank, said second-quarter profit more than doubled, beating analysts’ estimates, as fee revenue surged and the firm set aside less for bad loans.

Net income climbed to $1.12 billion, or $1.99 a share, from $546 million, or 98 cents, a year earlier, the Pittsburgh-based bank said today in a statement. The average estimate of 31 analysts surveyed by Bloomberg was for earnings $1.63 a share.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access