PNC Financial Services Group, Inc. (NYSE:PNC) Q1 2023 Results Conference Call April 14, 2023 11:00 AM ET
Company Participants
Bryan Gill - Head, IR
William Demchak - CEO
Robert Reilly - CFO
Conference Call Participants
Betsy Graseck - Morgan Stanley
Mike Mayo - Wells Fargo Securities
Gerard Cassidy - RBC
John Pancari - Evercore
Bill Carcache - Wolfe Research
Scott Siefers - Piper Sandler
Ken Usdin - Jefferies
Bryan Gill
Good morning, and welcome to today's conference call for the PNC Financial Services Group. Participating on this call are PNC's Chairman, President and CEO, Bill Demchak; and Rob Reilly, Executive Vice President and CFO.
Today's presentation contains forward-looking information. Cautionary statements about this information as well as reconciliations of non-GAAP measures are included in today's earnings release materials as well as our SEC filings and other investor materials. These are all available on our corporate website, pnc.com, under Investor Relations. These statements speak only as of April 14, 2023, and PNC undertakes no obligation to update them.
Now I'd like to turn the call over to Bill.
William Demchak
Thank you, Bryan, and good morning, everybody. As you can see on the slide, our quarterly results were strong, and we reported $1.7 billion in net income or $3.98 per share. Inside of this, we grew deposits and loans, increased our capital and liquidity positions generated positive operating leverage and maintain strong credit quality.
For the past month, we've seen market volatility across the broader industry. And while we take this situation seriously and are closely monitoring the environment, it's important to note that these events have taken place within a few banks with very unique business models. Inside of our company, we really haven't seen any meaningful impacts from the events of the past month. Our balance sheet remains strong and stable, and we are operating the
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