PNC’s NPLs hit $2.8 billion post BBVA USA acquisition

BBVA USA add-on made up 31% of consolidated NPLs in Q2

PNC’s non-performing loans (NPLs) hit $2.8 billion in the second quarter, up $641 million from the end of March. The increase came after the lender completed its acquisition of BBVA’s US arm for $11.6 billion.

Legacy NPLs at the US lender stood at $1.91 billion in Q2, down 10.75% compared with the previous quarter. BBVA USA added a further $871 million – amounting to 31% of total NPLs. 

Total loans increased by $57.7 billion to $294.7 billion following the acquisition. PNC’s NPL ratio – NPLs

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here