PNC
The PNC Financial Services Group, Inc.
Is PNC Halal?
PNC is a conventional commercial and retail bank whose core revenue engine is interest-based lending, deposits and securities activity; contextual bank ratios also fail the examined limits.
What You Should Know
PNC's March 31, 2026 Form 10-Q reports $603,028 million of total assets, $524,314 million of total funding sources, $31,699 million of cash and interest-earning bank deposits, $143,112 million of investment securities, $356,260 million of net loans and $6,165 million of quarterly revenue. Net interest income was $3,961 million, or 64.25% of revenue. The contextual bank-specific funding/assets ratio is 86.95%, liquidity is 28.99% and loans plus cash/assets are 64.50%; these are not ordinary industrial-company ratios, but they make the interest-based model transparent. PNC fails on core business activity because riba is central rather than incidental. This is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •Net interest income of $3,961 million was 64.25% of first-quarter revenue and is core to the bank model
- •Retail Banking includes mortgages, home equity, auto, education, credit-card and other interest-bearing products
- •Corporate and Institutional Banking includes commercial, real-estate and asset-based lending
- •The FirstBank acquisition closed January 5, 2026 and expands the consolidated balance-sheet perimeter
- •Bank-specific funding/assets, liquidity and loan ratios fail the examined contextual limits, but they should not be mistaken for an industrial-company methodology
- •Islamic alternatives include murabaha, ijara, musharakah and mudarabah structures rather than conventional interest-based lending
- •Market-cap denominator methods are not calculated without a licensed historical market-cap series
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
524,314 / 603,028
174,811 / 603,028
387,959 / 603,028
3,961 / 6,165
- Financial
- Fails
- Overall
- Fails
The bank-specific funding/assets ratio is 86.95%, liquidity is 28.99%, loans plus cash/assets are 64.50% and net interest income/revenue is 64.25%; the entered contextual ratios fail the examined limits.
- Financial
- Fails
- Overall
- Fails
The bank-specific funding/assets, loans-plus-cash and interest-income ratios exceed the examined limits. This is contextual calculation against the named method, not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Bank funding/assets is 86.95% and core net-interest income is 64.25% of revenue; the conventional banking activity is not a minority business. This is not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
PNC operates conventional Retail Banking, Corporate and Institutional Banking, and Asset Management businesses. Its lending, deposits, mortgage, credit-card and securities activities generate substantial net interest income.
Limitation: Bank balance sheets are not directly comparable to industrial-company screens, and no universal prohibited-revenue numerator is needed to identify the core interest-based banking model. The quantitative ratios are shown as contextual calculations, not a scholar-approved bank methodology.
Purification
PNC's core interest-based banking model is the primary disqualifier; a minority-income purification calculation is not appropriate, and the bank-specific quantitative ratios are contextual rather than a universal certification.
Inputs, assumptions and primary sources
- Inputs use PNC's March 31, 2026 Form 10-Q; amounts are USD millions.
- Assets use reported total assets of $603,028 million. Cash and due from banks plus interest-earning deposits with banks total $31,699 million; available-for-sale and held-to-maturity investment securities total $143,112 million.
- Funding uses total deposits of $457,648 million plus borrowed funds of $66,666 million. This bank-specific funding measure is not a corporate issuer debt measure and is shown to make the banking model explicit.
- Net loans of $356,260 million are used as the receivables proxy because PNC is a deposit-taking bank; this is not a claim that ordinary corporate receivables methodology applies unchanged to banks.
- Total first-quarter revenue was $6,165 million and net interest income was $3,961 million. Net interest income is entered as disclosed core riba-related income for the business-activity context.
- PNC is a conventional commercial and retail bank. The filing does not provide a universal prohibited-revenue numerator because interest-based banking is the core business rather than a minority line item.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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