PNC Financial Services Group's Annual 2022 Bottom-Line Net Economic Losses Were $1.640 Bil, $1,023 Better Than Its Annual 2008 Such Economic Losses of $2.663 Bil.

 

The second largest US Regional Bank in current stock market capitalization now is Pittsburgh, PA-based PNC Financial Services Group.

From US SEC filings, PNC Financial reported blowout audited Smoothed Net Income of $6.113 mil in annual 2022, which was an increase of a massive $5.317 mil or 7.7 times the $796 mil in annual 2008, which was by far the worst year for the earnings of US Financial Companies during the horrific 2008-2009 US Financial Meltdown.

But to arrive at Bottom-Line Real After-Tax Economic Income or Losses for these two years, you must also include the Economic Losses arising in both years from the decline in value of the massive amount of the Available-For-Sale Debt Securities these US Regional Banks held.

It gets a bit tricky to determine these Economic Losses in 2022 and especially so in 2008, but it can be done because they are disclosed in footnotes to their SEC-filed financial statements.

PNC Financial reported arising Economic Losses of $7,753 mil from the decline in the value of their massive Debt Investments portfolio in annual 2022 as compared to much lower arising Economic Losses of $3,459 mil in annual 2008.

Thus, PNC Financial had Bottom-Line Real After-Tax Economic Losses of $1,640 mil in annual 2022 versus such Economic Losses of $2,663 mil in annual 2008.