Archive - Oct 27, 2009
For Those That Didn't Notice the Worse Asset Quality on Record for PNC's Blowout Q3-09 Results
Submitted by Reggie Middleton on 10/27/2009 01:03 -0500Surprisingly good earnings, 10%+ rise in share price, declining charge offs and 90 day late paying loans, lower loss provisioning, rosy review from the media and more BUY, BUY, BUY signals from the sell side - what more could one ask from an anointed 19 bank? Well, for starters, we could request that their non-performing assets stop increasing at unprecedented rates. If not that, then we can always ask why reduce loss provisioning in the face of climbing non-performing loans...
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