A blowout third quarter report for PNC Financial , as the regional bank managed to avoid the same fate that brought down earnings at Fifth Third Bancorp and SunTrust Banks .
PNC avoided big bets on construction loans and posted a profit of $559 billion or $1 a share. Revenues, meanwhile surged 145% to $4 billion.
In an exclusive interview with Maria Bartiromo, James Rohr, Chairman & CEO of PNC said that "Q3 was good for us relative to the economy we've had." Some of PNC's highlights include making 61 basis points on assets over the nine months, revenues held up extremely well, charge-offs down and cost savings coming in from the National City acquisition. Rohr also added that the profit gains were across the board, particularly in their market-based businesses like asset management and venture capital.