Bank Brags About Being ‘Boring’ a Year Into Industry’s Turmoil
- PNC CEO says financial sector sometimes ‘chases shiny objects’
- Lenders have been under pressure since SVB failure a year ago
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After a tumultuous year, banks are looking to be something investors and customers rarely see companies call themselves: boring.
PNC Financial Services Group Inc. announced Monday that it’s launched a national advertising campaign to persuade customers that its bank is “brilliantly boring.” And it’s not the first lender to use the label. At a recent industry conference, Fifth Third Bancorp executives quipped that “boring is good,” and analysts say a tone of staidness is comforting given the sector’s recent turmoil.