February 26, 2017 6:42 AM ET

Banks

Company Overview of Citizens Financial Group, Inc.

Company Overview

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. It operates through two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment focuses on retail customers and small businesses with traditional banking products and services, including checking, savings, home loans, student loans, credit cards, business loans, and financial management services. This segment also provides indirect auto finance for new and used vehicles through auto dealerships. The Commercial Banking segment provides various financial produc...

One Citizens Plaza

Providence, RI 02903

United States

Founded in 1828

17,639 Employees

Phone:

401-456-7000

Key Executives for Citizens Financial Group, Inc.

Chairman and Chief Executive Officer
Age: 58
Total Annual Compensation: $1.5M
Chief Financial Officer
Age: 57
Total Annual Compensation: $243.7K
Vice Chairman of Consumer Banking, Vice Chairman of Citizens Bank and Head of Consumer Banking for Citizens Bank
Age: 54
Total Annual Compensation: $700.0K
Chief Legal Officer, Executive Vice President and General Counsel
Age: 63
Total Annual Compensation: $600.0K
Compensation as of Fiscal Year 2015.

Citizens Financial Group, Inc. Key Developments

Citizens Financial Group, Inc. Declares Semi-Annual Dividend on Preferred Stock, Payable on April 6, 2017

Citizens Financial Group, Inc. announced that its board of directors declared a semi-annual dividend on company's 5.500% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A. A dividend of $27.50 per share is payable on April 6, 2017 to shareholders of record at the close of business on March 22, 2017.

Citizens Financial Group, Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2016; Announces Net Charge-Offs

Citizens Financial Group, Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2016. For the quarter, total interest income was $1,122 million against $986 million for the same period of last year. Net interest income was $986 million against $870 million for the same period of last year. Total Revenue was $1,363 million against $1,232 million for the same period of last year. Income before income tax expense was $414 million against $331 million for the same period of last year. Net income available to common stockholders was $282 million against $221 million for the same period of last year. Net income available to common stockholders, adjusted was $282 million against $221 million for the same period of last year. Total revenue, adjusted (non-GAAP) was $1,363 million against $1,232 million for the same period of last year. Income before income tax expense, adjusted (non-GAAP) was $414 million against $331 million for the same period of last year. Net income available to common stockholders, adjusted (non-GAAP) was $282 million against $221 million for the same period of last year. Tangible book value per common share was $25.69 24.63 for the same period of last year. Diluted earnings per share were $0.55 against $0.42 for the same period of last year. Adjusted diluted earnings per share were $0.55 against $0.42 for the same period of last year. Return on average common equity was 5.7% against 4.5% for the same period of last year. Return on average tangible common equity 8.4% against 6.7% for the same period of last year. Adjusted return on average tangible common equity was 8.4% against 6.7% for the same period of last year. Return on average total assets was 0.8% against 0.6% for the same period of last year. Return on average total tangible assets was 0.8% against 0.7% for the same period of last year. For the year, total interest income was $4,266 million against $3,854 million for the same period of last year. Net interest income was $3,758 million against $3,402 million for the same period of last year. Total revenue was $5,255 million against $4,824 million for the same period of last year. Income before income tax expense was $1,534 million against $1,263 million for the same period of last year. Net income available to common stockholders was $1,031 million against $833 million for the same period of last year. Net income available to common stockholders, adjusted was $1,012 million against $864 million for the same period of last year. Total revenue, adjusted (non-GAAP) was $5,188 million against $4,824 million for the same period of last year. Income before income tax expense, adjusted (non-GAAP) was $1,503 million against $1,313 million for the same period of last year. Net income available to common stockholders, adjusted (non-GAAP) was $1,012 million against $864 million for the same period of last year. Tangible book value per common share was $25.69 against $24.63 for the same period of last year. Diluted earnings per share were $1.97 against $1.55 for the same period of last year. Adjusted diluted earnings per share were $1.93 against $1.61 for the same period of last year. Return on average common equity was 5.2% against 4.3% for the same period of last year. Return on average tangible common equity was 7.7% against 6.4% for the same period of last year. Adjusted return on average tangible common equity was 7.6% against 6.7% for the same period of last year. Return on average total assets was 0.7% against 0.6% for the same period of last year. Return on average total tangible assets was 0.8% against 0.7% for the same period of last year. For the quarter, net charge-offs were $104 million increased $21 million from third quarter 2016 levels, driven by a $14 million reduction in recoveries of prior-period charge-offs and the $7 million impact of a one-time methodology change in the auto portfolio. Compared with fourth quarter 2015, net charge-offs increased $27 million, driven by a $19 million increase in commercial, largely tied to commodities-related credits, and the $7 million impact of the methodology change in auto. Fourth quarter 2016 net charge-offs of 39 basis points of average loans and leases compares with 32 basis points in third quarter 2016 and 31 basis points in fourth quarter 2015.

Citizens Financial Group, Inc. Declares Quarterly Cash Dividend Payable on February 16, 2017

Citizens Financial Group, Inc. announced that its board of directors declared a quarterly cash dividend of $0.14 per common share, an increase of $0.02 per share. The dividend is payable on February 16, 2017 to shareholders of record at the close of business on February 2, 2017.

Similar Private Companies By Industry

Company Name Region
1854 Bancorp United States
1889 Bancorp MHC United States
1st Bank Of Sea Isle City United States
1st Financial Bank USA United States
1st Manatee Bank United States

Recent Private Companies Transactions

Type
Date
Target
Private Placement
January 26, 2017
--
Buyback
June 29, 2016
--
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Citizens Financial Group, Inc., please visit www.citizensbank.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.