PNC Bank will increase its minimum pay rate 20%, from $15 to $18 per hour.

Beginning Nov. 22, PNC Financial Services Group Inc. employees will earn a minimum of $18 per hour, which the bank noted is more than twice the national minimum wage of $7.25.

The change will affect both current PNC employees as well as BBVA USA employees who will begin working for PNC in October after its acquisition of the West Coast BBVA bank is finalized.

The bank said it made the decision to enhance its employees' financial wellness, attract and retain the best talent and strengthen PNC's position in the marketplace for employees.

“This isn't just a responsible move for the bank,” said PNC chairman, president and CEO William S. Demchak. “This increase allows us to make a positive difference, leveraging the power of our resources to help all move forward financially. Attracting and retaining highly engaged employees is critical to our continued growth.”

The company did not say how many current employees will be affected by this change. As of Dec. 31, the Pittsburgh-based bank had 51,257 employees, of whom 57% were in the retail banking business, according to shareholder filings.

PNC previously announced in December 2017 that it would increase its minimum wage to $15 an hour by the end of 2018, and now joins a number of other firms announcing raises for employees. Bank of America Corp., for instance, which has a retail bank location in Cranberry Township, announced in May that it plans to increase its minimum wage to $25 an hour by 2025.