PNC Financial is a regional financial services bank based in Pittsburgh. The bank provides consumer and small business banking, with asset management, residential mortgage banking, corporate and institutional banking offices across the United States, Canada, Germany, China, United Kingdom, and the Caribbean. PNC Financial has approximately 52,000 employees and operates 2,600 branches.
PNC Financial is committed to sustainable business practices and serving its communities. The bank incorporates environmental risk assessments into its lending operations and conducts its Enhanced Environmental Due Diligence process on clients in carbon intensive sectors. PNC also supports the adoption of renewable energy and encourages continued innovation of alternative energy sources by helping customers implement economically viable green energy and operational efficiency solutions. The bank has a variety of green banking practices, too. PNC recently made significant investments to fortify its data centers and provide fraud monitoring for its customers, and it takes steps to safeguard customer data privacy. The bank is committed to supporting homeownership for low and moderate-income households and each year averages more than $1 billion in community development investments. Furthermore, PNC runs numerous programs that focus on the financial education and wellbeing of its customers. The bank tracks its key performance indicators (KPIs) and has reduced each one in recent years. PNC has set 2020 reduction goals for each of its KPIs.
PNC Financial’s Asset Management division offers only one socially responsible investment product. Additionally, the company was recently criticized for declining home mortgage services to minorities.
Country: United States
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 12/31/16 and may not reflect current opinions or subsequent events.