The PNC Financial Services Group, Inc. announced Net loan charge-offs for quarter ended December 31, 2023 and net charge-offs expectations for first quarter 2024. For the quarter the company announced Net loan charge-offs of $200 million in the fourth quarter of 2023 increased $79 million compared to the third quarter of 2023, reflecting higher commercial and consumer net loan charge-offs. Compared to the fourth quarter of 2022, net loan charge-offs decreased $24 million, primarily reflecting lower commercial net loan charge-offs.

For first quarter net charge-offs expected to be between $200 million and $250 million.