PNC Financial CEO sees loan growth to exceed prior guidance

Asked about loan growth and what the bank is seeing in terms of loan demand in both corporate and consumer in the fourth quarter at the Goldman Sach U.S. Financial Services Conference, PNC Financial CEO William Demchak replied: "So our growth will exceed the guidance we gave you in the third quarter and the fourth quarter, led by C&I. If anything, we’re throttling C&I growth coming out of the new markets, the demand higher pricing because the pricing on it has been slower to expand than the pricing we’ve seen in the capital markets. New client activity is really strong. Loan growth is strong. We expect that to continue into next year. We tell you our pipeline is slightly smaller than it was earlier in the year, but that’s largely a function of self-selection as we look to cut spreads and/or make sure we get cross-sell upfront as opposed to cut out on the comp."