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PNC Wins Canadian Approval to Expand Commercial Banking

PNC Financial Services Group Inc., the second-largest U.S. regional bank, is expanding its commercial banking services in Canada.

Canada’s Office of the Superintendent of Financial Institutions approved PNC to take deposits and offer lending, credit and trust management services for domestic firms and U.S. companies operating in the country, PNC said today in a statement. PNC Canada was established as a commercial lending foreign bank branch in Toronto in 2001, the Pittsburgh-based company said.