NORTHAMPTON, MA / ACCESS Newswire / May 6, 2025 / Company has deployed 97% toward the plan to strengthen communities, drive economic empowerment and foster financial inclusion.
Highlights
Three years into ambitious plan, nearly $85.5 billion of funds have been deployed toward the plan, representing 97% of pledge.
In 2024, PNC strategically deployed $28.5 billion in capital to accelerate homeownership, small business growth and community investment.
Final year of plan focuses on maximizing impact by deepening partnerships, expanding access to capital and driving economic opportunity.
Making a transformative impact
PNC's steadfast commitment to the communities we serve drives our teams to create and execute capital investments, loans and grants that make a positive, lasting impact. It's in that spirit of consistent forward progress that PNC Bank proudly shares the significant progress achieved under our $88 billion Community Benefits Plan (CBP), launched in January 2022 and concluding in December 2025.
With a commitment to economic empowerment and financial inclusion, the four-year initiative is making a measurable and transformative impact across low- and moderate-income (LMI) communities and majority-minority census tracts.
"Looking ahead, in this final year of the CBP, our focus remains on maximizing impact by deepening our partnerships, expanding access to capital and driving economic mobility," said Richard Bynum, PNC's chief corporate responsibility officer. Thanks to the amazing work of our PNC team members, we are well-positioned to build on this momentum and create lasting change for the communities we serve."
2024 report summarizes progress
Since 2022, PNC has delivered $85.5 billion in capital investments, loans and philanthropic giving, representing over 97 percent of the total amount committed to accelerate homeownership, small business growth and community investment initiatives. In 2024, PNC delivered on our commitment to do right by our stakeholders with more than $28.4 billion in total capital deployed to catalyze investment in LMI communities across our footprint.
In addition to summarizing PNC's progress in mortgage lending, small business and community financing as well as charitable support, the Community Benefits Plan annual progress report highlights some of the specific milestones and impactful wins that successfully supported the communities, clients and customers we serve. For more details, view the 2024 Community Benefits Plan report.
View additional multimedia and more ESG storytelling from PNC Financial Services Group on 3blmedia.com.
Contact Info:
Spokesperson: PNC Financial Services Group
Website: https://www.3blmedia.com/profiles/pnc-financial-services-group
Email: info@3blmedia.com
SOURCE: PNC Financial Services Group
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/pnc-achieves-major-milestone-in-88-billion-community-benefits-plan-1024055
