CITIZENS FINANCIAL GROUP INC/RI

Listed Company

CFG-PICIK 0000759944NYSELarge AcceleratedState Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$1.83B

Total Assets

$226.35B

Equity

$26.32B

Shares Out

424.98M

Op. Cash Flow

$2.21B

+ 13F Filer

Business

Citizens Financial Group Inc. is a bank holding company that provides retail and commercial banking and related financial services to individuals, small businesses, middle-market companies, large corporations and institutions. It offers deposits, mortgage and home equity lending, credit cards, auto and consumer loans, wealth management, treasury and payments, commercial lending and capital markets and advisory services. The company operates through two primary segments — Consumer Banking and Commercial Banking — with remaining activities classified as Non‑Core or Other. It distributes products via a multi‑channel network of branches, non‑branch offices, telephone centers and online and mobile platforms across a 14‑state traditional banking footprint and national channels.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans and leases	7,478	7,948	8,489	5,968	4,253
Interest and fees on loans held for sale	105	77	102	124	82
Investment securities	1,713	1,658	1,162	840	487
Interest-bearing deposits in banks	367	503	451	128	16
Total interest income	9,663	10,186	10,204	7,060	4,851
Deposits	3,194	3,825	3,145	651	160
Short-term borrowed funds	22	15	43	23	1
Long-term borrowed funds	594	713	775	374	178
Total interest expense	3,810	4,553	3,963	1,048	—
Net interest income	5,853	5,633	6,241	6,012	4,512
Provision (benefit) for credit losses	608	687	687	474	−411
Net interest income after provision (benefit) for credit losses	5,245	4,946	5,554	5,538	4,923
Service charges and fees	444	420	410	420	409
Capital markets fees	511	467	319	368	428
Wealth fees	360	294	259	249	—
Card fees	346	368	296	273	250
Mortgage banking fees	233	209	242	261	434
Foreign exchange and derivative products	156	146	183	188	120
Letter of credit and loan fees	186	175	168	159	156
Securities gains, net	22	18	28	9	10
Other income	136	79	78	82	89
Total noninterest income	2,394	2,176	1,983	2,009	2,135
Salaries and employee benefits	2,798	2,657	2,599	2,549	2,132
Equipment and software	783	769	756	648	610
Outside services	633	639	687	700	595
Occupancy	435	447	492	410	333
Other operating expense	662	722	973	585	411
Total noninterest expense	5,311	5,234	5,507	4,892	4,081
Income before income tax expense	2,328	1,888	2,030	2,655	2,977
Income tax expense	497	379	422	582	658
NET INCOME	1,831	1,509	1,608	2,073	2,319
Net income available to common stockholders	1,688	1,372	1,491	1,960	2,206
Basic (in shares)	433	451	475	476	426
Diluted (in shares)	437	454	477	478	427
Basic earnings (in dollars per share)	3.9	3.05	3.14	4.12	5.18
Diluted earnings (in dollars per share)	3.86	3.03	3.13	4.1	5.16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	1,464	1,409	1,794	1,489	1,155
Interest-bearing cash and due from banks	11,263	9,192	9,834	—	—
Interest-bearing deposits in banks	961	635	405	303	316
Debt securities available for sale, at fair value (including $108 and $152 pledged to creditors, respectively)	35,697	32,765	29,777	24,007	26,067
Debt securities held to maturity (fair value of $7,150 and $7,540, respectively, and including $67 and $83 pledged to creditors, respectively)	7,933	8,599	9,184	9,834	2,242
Loans held for sale (includes $1,065 and $825, respectively, measured at fair value)	1,198	858	779	774	2,733
Loans and leases	142,692	139,203	145,959	156,662	128,163
Less: Allowance for loan and lease losses	−1,943	−2,061	−2,098	−1,983	−1,758
Net loans and leases	140,749	137,142	143,861	154,679	126,405
Premises and equipment, net	915	875	895	844	768
Bank-owned life insurance	3,441	3,364	3,291	3,236	2,843
Goodwill	8,187	8,187	8,188	8,173	7,116
Other intangible assets	115	146	157	197	64
Other assets	14,428	14,349	13,359	13,089	8,746
TOTAL ASSETS	226,351	217,521	221,964	226,733	188,409
Noninterest-bearing	40,417	36,920	37,107	49,283	49,443
Interest-bearing	142,896	137,856	140,235	131,441	104,918
Total deposits	183,313	174,776	177,342	180,724	154,361
Short-term borrowed funds	58	0	505	3	74
Long-term borrowed funds	11,224	12,401	13,467	15,887	6,932
Other liabilities	5,439	6,090	4,746	4,520	3,425
TOTAL LIABILITIES	200,034	193,267	197,622	203,043	164,989
Commitments and Contingencies (refer to Note 17)	—	—	—	—	—
$25.00 par value,100,000,000 shares authorized; 2,150,000 shares issued and outstanding at December 31, 2025 and 2024	2,111	2,113	2,014	2,014	2,014
$0.01 par value, 1,000,000,000 shares authorized; 652,238,745 shares issued and 429,242,174 shares outstanding at December 31, 2025 and 650,068,324 shares issued and 440,543,381 shares outstanding at December 31, 2024	7	7	6	6	6
Additional paid-in capital	22,476	22,364	22,250	22,142	19,005
Retained earnings	11,345	10,412	9,816	9,159	7,978
Treasury stock, at cost, 222,996,571 and 209,524,943 shares at December 31, 2025 and 2024, respectively	−7,652	−7,047	−5,986	−5,071	−4,918
Accumulated other comprehensive income (loss)	−1,970	−3,595	−3,758	−4,560	−665
TOTAL STOCKHOLDERS EQUITY	26,317	24,254	24,342	23,690	23,420
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	226,351	217,521	221,964	226,733	188,409

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	1,831	1,509	1,608	2,073	2,319
Net change in Loans held for sale	−414	−24	98	1,733	1,085
Depreciation, amortization, and accretion	478	498	478	565	625
Deferred income tax expense (benefit)	−82	−177	−242	57	−429
Share-based compensation	120	97	87	84	59
Net gain on sale of assets	−24	−18	−28	−9	−11
Net (increase) decrease in Other assets	89	−261	612	−1,894	−1,719
Net increase (decrease) in Other liabilities	−395	−310	−339	1,036	757
Net change due to operating activities	2,211	2,001	2,961	4,119	2,275
Purchases of debt securities available for sale	−9,463	−9,755	−10,087	−10,776	−12,406
Proceeds from maturities and paydowns of debt securities available for sale	4,018	3,304	2,001	3,422	7,810
Proceeds from sales of debt securities available for sale	3,797	3,619	2,941	1,178	790
Proceeds from maturities and paydowns of debt securities held to maturity	750	662	761	1,035	1,006
Net (increase) decrease in Interest-bearing deposits in banks	−326	−230	−102	13	−10
Purchases of loans	−680	−655	0	−1,007	−3,778
Sales of loans	1,891	207	2,793	2,677	934
Net (increase) decrease in Loans and leases	−5,433	6,050	7,174	−7,927	−3,177
Capital expenditures, net	−174	−122	−172	−126	−124
Other	−347	−93	−61	−771	−316
Net change due to investing activities	−5,967	2,987	5,248	−12,637	−10,486
Net increase (decrease) in Deposits	8,537	−2,566	−3,382	6,146	7,197
Net increase (decrease) in Short-term borrowed funds	58	−505	502	−95	−154
Proceeds from issuance of long-term borrowed funds	8,534	13,185	25,983	24,617	0
Repayments of long-term borrowed funds	−9,744	−14,286	−28,418	−19,691	−1,352
Treasury stock purchased	−600	−1,100	−906	−153	−295
Net proceeds from issuance of preferred stock	393	392	0	0	296
Redemption of preferred stock	−400	−300	0	0	−250
Dividends paid to common stockholders	−755	−769	−808	−779	−670
Dividends paid to preferred stockholders	−133	−134	−120	−113	−113
Other	−8	18	21	−25	−22
Net change due to financing activities	5,882	−6,015	−7,128	9,907	4,636
Net change in cash and cash equivalents	2,126	−1,027	1,081	1,389	−3,575
Interest paid	4,040	4,375	3,640	989	347
Transfer of loans from loans held for investment to LHFS	1,944	299	2,617	0	0
Loans securitized and transferred to AFS securities	112	329	103	143	260

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 599 positions

Reported AUM

$2.86B

Holdings

599

Top sector

$2.86B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$2.86B	100.0%

Top holdings

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