Citizens Achieves ‘Outstanding’ Community Reinvestment Act Rating
21 Setembro 2023 - 9:53AM
Business Wire
Citizens Financial Group (NYSE: CFG) announced today that its
Citizens Bank, N.A. subsidiary has received the highest possible
rating from the Office of the Comptroller of the Currency (OCC) for
its most recent performance under the Community Reinvestment Act
(CRA). Citizens has consistently achieved an Outstanding rating
since its IPO in 2015.
“Citizens is committed to ensuring the communities we serve have
access to the resources needed to reach their potential,” said
Bruce Van Saun, Chairman and Chief Executive Officer, Citizens
Financial Group. “We are pleased that the OCC has recognized our
efforts with this rating and remain focused on helping build strong
communities across our footprint.”
Significant community achievements during the period which led
to Citizens’ “Outstanding” rating include:
- Citizens extended more than $4 billion in Community Development
qualified loans and investments to help stabilize and revitalize
neighborhoods by supporting affordable housing and community
services.
- Citizens loaned more than $3.8 billion to small businesses and
to businesses in low- and moderate-income communities.
- Citizens made more than $12 billion in mortgage loans to low-
and moderate-income borrowers and to borrowers in low- and
moderate-income communities.
- As of December 2021, nearly 35 percent of Citizens branches
were readily accessible to residents of low- and moderate-income
communities.
Adopted in 1977, the CRA requires federally insured
deposit-taking institutions to support the borrowing needs of all
the communities where they do business, including low– and
moderate–income areas. Banks were rated during the evaluation
period from January 2019 to December 2021 for their lending,
investments, and service activities. Citizens’ Outstanding rating
signifies that the bank is a leader in, ascertaining and helping to
meet the credit needs of its entire delineated community, including
low- and moderate-income neighborhoods, in a manner consistent with
its resources and capabilities.
For more information about Citizens’ community efforts and to
view the bank’s most recent ESG report, visit here.
About Citizens Financial Group,
Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $223.1 billion in assets as of
June 30, 2023. Headquartered in Providence, Rhode Island, Citizens
offers a broad range of retail and commercial banking products and
services to individuals, small businesses, middle-market companies,
large corporations and institutions. Citizens helps its customers
reach their potential by listening to them and by understanding
their needs in order to offer tailored advice, ideas and solutions.
In Consumer Banking, Citizens provides an integrated experience
that includes mobile and online banking, a full-service customer
contact center and the convenience of approximately 3,400 ATMs and
approximately 1,100 branches in 14 states and the District of
Columbia. Consumer Banking products and services include a full
range of banking, lending, savings, wealth management and small
business offerings. In Commercial Banking, Citizens offers a broad
complement of financial products and solutions, including lending
and leasing, deposit and treasury management services, foreign
exchange, interest rate and commodity risk management solutions, as
well as loan syndication, corporate finance, merger and
acquisition, and debt and equity capital markets capabilities. More
information is available at www.citizensbank.com or visit us on
Twitter, LinkedIn or Facebook.
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version on businesswire.com: https://www.businesswire.com/news/home/20230921054849/en/
Media Contacts: Citizens Katie Hamilton (832) 515-6790
katie.hamilton@citizensbank.com
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