PITTSBURGH — PNC’s top executive gave financial analysts a taste of what they’ve been clamoring for during the past several months — an update on BBVA USA, the $11.6 billion acquisition the Pittsburgh-based bank completed last June. It was an anecdotal sketch a bit beyond the data in the first-quarter earnings report that basically kicked off PNC’s investors call.
“Legacy BBVA corporate commercial banking calls doubled compared to the fourth quarter, and sales increased 50%,” Bill Demchak, chairman, president and CEO, said late Thursday morning.
On the retail side, where the focus is on building customer relationships, sales per legacy BBVA branch were approximately 60% higher in March than in December, largely due to activity around mortgages, cards and referrals to PNC investments.
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