CITIZENS FINANCIAL GROUP INCRI
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
CFG$65.10+2.9%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
| Year Ended December 31, | |||
|---|---|---|---|
| (dollars in millions, except per share data) | 2024 | 2023 | 2022 |
| INTEREST INCOME: | |||
| Interest and fees on loans and leases | $7,948 | $8,489 | $5,968 |
| Interest and fees on loans held for sale(1) | 77 | 102 | 124 |
| Investment securities | 1,658 | 1,162 | 840 |
| Interest-bearing deposits in banks | 503 | 451 | 128 |
| Total interest income | 10,186 | 10,204 | 7,060 |
| INTEREST EXPENSE: | |||
| Deposits | 3,825 | 3,145 | 651 |
| Short-term borrowed funds | 15 | 43 | 23 |
| Long-term borrowed funds | 713 | 775 | 374 |
| Total interest expense | 4,553 | 3,963 | 1,048 |
| Net interest income | 5,633 | 6,241 | 6,012 |
| Provision (benefit) for credit losses | 687 | 687 | 474 |
| Net interest income after provision (benefit) for credit losses | 4,946 | 5,554 | 5,538 |
| NONINTEREST INCOME: | |||
| Service charges and fees | 420 | 410 | 420 |
| Capital markets fees | 467 | 319 | 368 |
| Card fees | 368 | 296 | 273 |
| Wealth fees(1) | 294 | 259 | 249 |
| Mortgage banking fees | 209 | 242 | 261 |
| Foreign exchange and derivative products | 146 | 183 | 188 |
| Letter of credit and loan fees | 175 | 168 | 159 |
| Securities gains, net | 18 | 28 | 9 |
| Other income | 79 | 78 | 82 |
| Total noninterest income | 2,176 | 1,983 | 2,009 |
| NONINTEREST EXPENSE: | |||
| Salaries and employee benefits | 2,657 | 2,599 | 2,549 |
| Equipment and software | 769 | 756 | 648 |
| Outside services | 639 | 687 | 700 |
| Occupancy | 447 | 492 | 410 |
| Other operating expense | 722 | 973 | 585 |
| Total noninterest expense | 5,234 | 5,507 | 4,892 |
| Income before income tax expense | 1,888 | 2,030 | 2,655 |
| Income tax expense | 379 | 422 | 582 |
| NET INCOME | $1,509 | $1,608 | $2,073 |
| Net income available to common stockholders | $1,372 | $1,491 | $1,960 |
| Weighted-average common shares outstanding: | |||
| Basic | 450,678,038 | 475,089,384 | 475,959,815 |
| Diluted | 453,510,245 | 476,693,148 | 477,803,142 |
| Per common share information: | |||
| Basic earnings | $3.05 | $3.14 | $4.12 |
| Diluted earnings | 3.03 | 3.13 | 4.10 |
Citizens Financial Group, Inc. | 88
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