Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is The PNC Financial Services Group, Inc. (PNC) Halal?

FAIL

The PNC Financial Services Group, Inc. · NYSE: PNC · Financials

The short answer

No -- PNC Financial Services Group (PNC) fails this Shariah stock screen at all three gates. Per its own FY2025 10-K, PNC is one of the largest diversified financial services companies in the U.S., headquartered in Pittsburgh, operating through Retail Banking, Corporate & Institutional Banking, and Asset Management Group -- its core business is conventional banking and interest-based lending (deposits, mortgages, credit cards, corporate loans, loan syndications, equipment leases), a non-compliant business activity under the AAOIFI-style business screen. Its disclosed interest income of $25,307M for FY2025 is about 109.56% of its $23,099M in total revenue, above the 5% non-compliant income ceiling. Its debt screen also fails: $59,034M of borrowed funds and lease liabilities is about 66.30% of its ~$89.04B market cap ($220.75, latest close retrieved October 2, 2026), above the ~33% ceiling. The two existing third-party positions agree: Zoya flags PNC not Shariah-compliant and Musaffa rates it not halal (October 2026); no ShariaPortfolio page for PNC was found -- honestly reported, not invented.

Gate 1 — Business activity: FAIL

The PNC Financial Services Group, Inc. (NYSE: PNC) describes itself in the Business note of its FY2025 10-K as one of the largest diversified financial services companies in the United States, headquartered in Pittsburgh, Pennsylvania, reporting three segments: Retail Banking (deposits, residential mortgages, home equity loans, auto loans, credit cards, education loans, personal and small business loans), Corporate & Institutional Banking (secured and unsecured loans, letters of credit, equipment leases, treasury and cash management, loan syndications, securities underwriting, and M&A/equity capital markets advisory), and Asset Management Group (wealth, trust and fiduciary services). Business screen (factual, from the filing): PNC's core business is conventional banking -- taking deposits and earning interest on loans and securities. Under the AAOIFI-style business screen applied on this site, conventional interest-based lending is a non-compliant business activity. Gate 1 fails. Facts only.

Gate 2 — Debt and cash: FAIL

Per PNC's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $59,034M -- total borrowed funds of $57,101M (Federal Home Loan Bank advances $13,000M, senior debt $38,642M, subordinated debt $3,016M, other $2,443M) plus $1,933M of operating lease liabilities. Customer deposits ($440,866M) are banking operating liabilities and are not counted as debt. Against a market cap of about $89.04B ($220.75 latest close retrieved October 2, 2026; 403,370,923 shares outstanding per the 10-K cover), debt divided by market cap is about 66.30% -- roughly double the ~33% ceiling. Cash and due from banks of $6,777M is about 7.61% of market cap, with $32,936M of interest-earning deposits with banks adding about 36.99%. Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: FAIL

PNC's FY2025 10-K income statement reports total interest income of $25,307M (loans $18,472M, investment securities $4,674M, other $2,161M) against total revenue of $23,099M -- about 109.56% of revenue, more than twenty times the 5% non-compliant income ceiling. For a conventional bank, interest income is the separately disclosed interest-type income line and the core of the business. Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does PNC Financial Services do?

The PNC Financial Services Group, Inc. (NYSE: PNC) describes itself in the Business note of its FY2025 10-K as one of the largest diversified financial services companies in the United States, headquartered in Pittsburgh, Pennsylvania. It reports three segments: Retail Banking (deposit accounts, residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, personal and small business loans, plus brokerage, insurance and cash management services, delivered coast-to-coast through its branch network); Corporate & Institutional Banking (secured and unsecured loans, letters of credit, equipment leases, treasury and cash management, foreign exchange, fixed income, securities underwriting, loan syndications, and mergers-and-acquisitions and equity capital markets advisory services for mid-sized and large corporations, governments and not-for-profits); and Asset Management Group (personal wealth management, institutional asset management, trust and fiduciary services).

Why does PNC fail this Shariah stock screen?

PNC fails this screen at the business-activity gate, the debt gate and the non-compliant income gate. Its core business is conventional banking -- taking deposits and making interest-based loans (retail mortgages, auto loans, credit cards, corporate loans, loan syndications, equipment leases) -- which is a non-compliant business activity under the AAOIFI-style business screen applied on this site, so Gate 1 fails. Its disclosed interest income of $25,307M for FY2025 is about 109.56% of its $23,099M in total revenue, far above the 5% non-compliant income ceiling, so Gate 3 fails. And its interest-bearing debt of $59,034M is about 66.30% of its ~$89.04B market cap, roughly double the ~33% ceiling, so Gate 2 fails. This is a factual screen, not a religious ruling -- consult a qualified scholar for personal rulings.

What is PNC's interest-bearing debt ratio?

Per PNC's FY2025 10-K (fiscal year ended December 31, 2025), interest-bearing debt was $59,034M -- total borrowed funds of $57,101M (Federal Home Loan Bank advances $13,000M, senior debt $38,642M, subordinated debt $3,016M, and other borrowed funds $2,443M) plus operating lease liabilities of $1,933M per the leases note. Customer deposits of $440,866M are banking operating liabilities and are not counted as debt. Against a market cap of about $89.04B ($220.75 latest close retrieved October 2, 2026; 403,370,923 shares outstanding per the 10-K cover), debt divided by market cap is about 66.30% -- roughly double the ~33% ceiling. Cash and due from banks of $6,777M is about 7.61% of market cap, and interest-earning deposits with banks of $32,936M add about 36.99% more.

What is PNC's non-compliant income ratio?

PNC's FY2025 10-K income statement reports total interest income of $25,307M (loans $18,472M, investment securities $4,674M, other $2,161M) against total revenue of $23,099M -- about 109.56% of revenue, more than twenty times the 5% non-compliant income ceiling. Interest income is the separately disclosed interest-type income line of the filing, and for a conventional bank it is the core of the business. Gate 3 fails.

Do Zoya, Musaffa, or ShariaPortfolio cover PNC?

Zoya covers PNC and flags it as not Shariah-compliant (zoya.finance/stocks/pnc; the page's displayed assessment date was blank when accessed in October 2026) -- it does not rate PNC halal. Musaffa covers PNC and classifies it as not halal as of October 2026 under its AAOIFI methodology (musaffa.com/stock/PNC/). No ShariaPortfolio screener page for PNC was found via web search as of October 2, 2026. The two coverage statements that exist are consistent with this page's own FAIL outcome, and the absence of ShariaPortfolio coverage is honestly reported, not invented.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).