Citizens Financial Group, Inc. Reports Third Quarter 2023 Net Income of $430 million and EPS of $0.85
18 Outubro 2023 - 7:20AM
Business Wire
Underlying Net Income of $448 million and
EPS of $0.89 includes $(0.05) for Private Bank start-up investment
and $(0.14) for the Non-Core portfolio
CET1 ratio of 10.4%
Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today
reported third quarter 2023 financial results. The earnings press
release, investor presentation, and financial supplement are
available at http://investor.citizensbank.com. In addition, these
materials will be furnished to the Securities and Exchange
Commission (SEC) on a Form 8-K and will be available on the SEC
website at www.sec.gov.
“We continue to post solid results through a dynamic
environment,” said Chairman and CEO Bruce Van Saun. “Our spot
deposit levels were up slightly relative to Q2 and broadly stable
with a year ago, and our NII and NIM were in line with
expectations. We increased our CET1 ratio to 10.4% while continuing
to repurchase a modest amount of stock. The ramp of the Citizens
Private Bank is making good progress, with several launch events
over the next few weeks, and the Non-Core rundown is on track.
Successful execution of these initiatives will meaningfully bolster
EPS and returns. We will continue to play strong defense given the
external environment, while advancing important strategic
initiatives.”
Citizens also announced today that its board of directors
declared a quarterly common stock dividend of $0.42 per share. The
dividend is payable on November 15, 2023 to shareholders of record
at the close of business on November 1, 2023.
As previously announced, Citizens will host a live conference
call to review its third quarter 2023 financial results. Interested
parties may access the call and related materials through the
following details:
Conference Call
Time: 9:00 am ET
Dial-in: (877) 226-8189, conference ID 6086305
Webcast/Presentation: The live webcast will be available at
http://investor.citizensbank.com under Events &
Presentations.
Replay Information: A replay of the conference call will be
available beginning at 12:00 pm ET on October 18, 2023 through
November 18, 2023. Please dial (866) 207-1041 and enter access code
7500675. The webcast replay will be available at
http://investor.citizensbank.com under Events &
Presentations.
About Citizens Financial Group,
Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $225.3 billion in assets as of
September 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 3,300 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.
Cautionary Statement About
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Any statement that does not describe historical or current facts is
a forward-looking statement. These statements often include the
words “believes,” “expects,” “anticipates,” “estimates,” “intends,”
“plans,” “goals,” “targets,” “initiatives,” “potentially,”
“probably,” “projects,” “outlook,” “guidance” or similar
expressions or future or conditional verbs such as “may,” “will,”
“should,” “would,” and “could.” Forward-looking statements are
based upon the current beliefs and expectations of management, and
on information currently available to management. Our statements
speak as of the date hereof, and we do not assume any obligation to
update these statements or to update the reasons why actual results
could differ from those contained in such statements in light of
new information or future events. We caution you, therefore,
against relying on any of these forward-looking statements. They
are neither statements of historical fact nor guarantees or
assurances of future performance. More information about factors
that could cause actual results to differ materially from those
described in the forward-looking statements can be found under
“Risk Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2022 as filed with the United States Securities and
Exchange Commission.
CFG-IR
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