Latest news with #CitizensFinancial
Associated Press
6 days ago
- Business
- Associated Press
Citizens Financial Group Announces Redemption of Subordinated Notes
PROVIDENCE, R.I.--(BUSINESS WIRE)--May 30, 2025-- Citizens Financial Group, Inc. (NYSE: CFG) today announced the redemption on July 3, 2025, of all of its outstanding 4.35% Fixed-Rate Subordinated Notes due August 1, 2025 (CUSIP No. 174610AJ4) (the 'Notes'). The redemption price for the Notes will be equal to 100% of principal amount of the Notes redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date of July 3, 2025. In accordance with the indenture governing the Notes, the holders of the Notes will receive notice of the redemption, the redemption price and further instructions and details related to the process of such redemption. Payment of the redemption price for the Notes will be made through the facilities of The Depository Trust Company. About Citizens Financial Group, Inc. Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $220.1 billion in assets as of March 31, 2025. 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 3,100 ATMs and approximately 1,000 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 or visit us on X, LinkedIn or Facebook. CFG-IR View source version on CONTACT: Media: Peter Lucht - 781.655.2289 Investors: Kristin Silberberg - 203.900.6854 KEYWORD: RHODE ISLAND UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: FINANCE BANKING PROFESSIONAL SERVICES SMALL BUSINESS ASSET MANAGEMENT SOURCE: Citizens Financial Group, Inc. Copyright Business Wire 2025. PUB: 05/30/2025 10:25 AM/DISC: 05/30/2025 10:25 AM
Yahoo
16-04-2025
- Business
- Yahoo
Citizens Financial's first-quarter profit falls as interest income declines
(Reuters) - Citizens Financial reported a fall in first-quarter profit on Wednesday, hurt by lower interest income amid economic uncertainty. U.S. President Donald Trump's trade policies have sparked concerns over rising inflation and a potential recession, weakening consumer confidence and possibly dampening loan demand and spending. Its a sharp shift from the optimism at the start of the year, when the banking sector surged on expectations of robust loan growth and a revival in deal-making on hopes of deregulation under the new administration. Some of the biggest U.S. banks such as JPMorgan Chase, Bank of America and Citigroup were able to bolster their quarterly profits through strong equities trading amid volatility in the markets. But regional lenders tend to have smaller trading operations, which restricts their ability to take advantage of market turmoil during such volatile periods. Excluding one-time costs, Citizens Financial earned 77 cents per share for the three months ended March 31, compared with 79 cents a year earlier. Analysts, on average, were expecting earnings of 75 cents per share, according to data compiled by LSEG. Citizens' net interest income — the difference between what banks pay customers on deposits and earn as interest on loans — fell to $1.39 billion from $1.44 billion a year earlier, due to a decline in average interest-earning assets. The Providence, Rhode Island-based bank's capital market fees also decreased 15% to $100 million, due to lower M&A activity. Citizens decreased its provision for credit losses to $153 million in the first quarter from $171 million a year earlier. The bank's stock has lost nearly 17.5% this year, until last close. Sign in to access your portfolio
