PNC Chairman Rohr:We Will Re-Pay TARP Within Next 15 Months-CNBC

The chairman and chief executive of PNC Financial Services Group Inc. (PNC) said Tuesday his bank will re-pay its $7.6 billion in TARP funds within the next 15 months.

"I am confident of that," James Rohr, head of the Pittsburgh-based regional bank, said in an interview with cable business channel CNBC.

Rohr said in late October that PNC "could" re-pay the billions in public support it accepted last year within the next fifteen months.

But Tuesday's comments mark a subtle shift in tone for Rohr, who has said repeatedly his bank won't rush to re-pay the funds in any manner that significantly hurts shareholders. Other banks have raised billions in fresh capital, which dilutes existing investors' stakes, in order to re-pay the funds more quickly.

-By Marshall Eckblad, Dow Jones Newswires; 212-416-2156; marshall.eckblad@dowjones.com

PNC Financial Services (NYSE:PNC)
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