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Citizens Financial Group

Logo: Citizens Financial Group, Public domain, via Wikimedia Commons4

Eastern U.S. bank

Citizens Financial Group, Inc. is an American bank holding company, headquartered in Providence, Rhode Island.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1954Founded1

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  • TickerCFG on NYSE1
  • Industryeconomics of banking, financial sector, financial services1
  • HeadquartersProvidence1
  • Websitewww.citizensbank.com
  • Incorporated inDE5
  • Business address1 Citizens Plaza, Providence, Ri 029035
  • Filer categoryLarge accelerated filer5

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One Citizens Plaza north side
Photo: Kenneth C. Zirkel, CC BY-SA 3.0, via Wikimedia Commons7

Citizens Financial Group, Inc. is an American bank holding company, headquartered in Providence, Rhode Island. The company owns the bank Citizens Bank, N.A., which operates in the U.S. states of Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, and Virginia, as well as Washington, DC.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

112.0%Net margin8
6.7%Revenue growth, 20258
7.0%Return on equity8
0.43×Debt to equity8

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Capital Markets Fees brought in 30% of the revenue Citizens Financial Group broke down this way in fiscal 2025.

  1. Capital Markets Fees$485.0M830%up 9% from 2024
  2. Service Charges and Fees$442.0M827%up 6% from 2024
  3. Wealth Fees$360.0M822%up 22% from 2024
  4. Card Fees$335.0M820%down 7% from 2024
  5. Other Banking Fees$13.0M81%down 13% from 2024
Products and services by year
Products and services202320242025
Capital Markets Fees$293.0M$445.0M$485.0M
Service Charges and Fees$409.0M$417.0M$442.0M
Wealth Fees$259.0M$294.0M$360.0M
Card Fees$291.0M$362.0M$335.0M
Other Banking Fees$14.0M$15.0M$13.0M

Business segments

Consumer Banking brought in 58% of the revenue Citizens Financial Group broke down this way in fiscal 2025.

  1. Consumer Banking$955.0M858%up 10% from 2024
  2. Commercial Banking$680.0M842%up 6% from 2024
Business segments by year
Business segments202320242025
Consumer Banking$783.0M$869.0M$955.0M
Commercial Banking$483.0M$639.0M$680.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Income tax21¢$497.0M
  • Profit79¢$1.8B

Out of $1.6B in revenue.8

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid34¢$755.0M
  • Share buybacks27¢$600.0M
  • Kept or used elsewhere39¢$856.0M

Out of $2.2B of cash from operations.8

Financial statements

Revenue91011128$1.6B in 2025+40% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $1.2B$1.2B20192020: $1.1B$1.1B2020−8%2021: $1.3B$1.3B2021+23%2022: $1.3B$1.3B2022−2%2023: $1.3B$1.3B2023−3%2024: $1.5B$1.5B2024+21%2025: $1.6B$1.6B2025+7%
Net income91011128$1.8B in 2025+2% since 2019
0$1.0B$2.0B$3.0B2019: $1.8B$1.8B20192020: $1.1B$1.1B2020−41%2021: $2.3B$2.3B2021+119%2022: $2.1B$2.1B2022−11%2023: $1.6B$1.6B2023−22%2024: $1.5B$1.5B2024−6%2025: $1.8B$1.8B2025+21%

Every line of the income statement in the latest annual report, as filed.8

Period ending2025-12-312024-12-312023-12-31
Interest and fees on loans and leases$7.5B$7.9B$8.5B
Interest and fees on loans held for sale$105.0M$77.0M$102.0M
Investment securities$1.7B$1.7B$1.2B
Interest-bearing deposits in banks$367.0M$503.0M$451.0M
Total interest income$9.7B$10.2B$10.2B
Deposits$3.2B$3.8B$3.1B
Short-term borrowed funds$22.0M$15.0M$43.0M
Long-term borrowed funds$594.0M$713.0M$775.0M
Total interest expense$3.8B$4.6B$4.0B
Net interest income$5.9B$5.6B$6.2B
Provision (benefit) for credit losses$608.0M$687.0M$687.0M
Net interest income after provision (benefit) for credit losses$5.2B$4.9B$5.6B
Service charges and fees$444.0M$420.0M$410.0M
Capital markets fees$511.0M$467.0M$319.0M
Wealth fees$360.0M$294.0M$259.0M
Card fees$346.0M$368.0M$296.0M
Mortgage banking fees$233.0M$209.0M$242.0M
Foreign exchange and derivative products$156.0M$146.0M$183.0M
Letter of credit and loan fees$186.0M$175.0M$168.0M
Securities gains, net$22.0M$18.0M$28.0M
Other income$136.0M$79.0M$78.0M
Total noninterest income$2.4B$2.2B$2.0B
Salaries and employee benefits$2.8B$2.7B$2.6B
Equipment and software$783.0M$769.0M$756.0M
Outside services$633.0M$639.0M$687.0M
Occupancy$435.0M$447.0M$492.0M
Other operating expense$662.0M$722.0M$973.0M
Total noninterest expense$5.3B$5.2B$5.5B
Income before income tax expense$2.3B$1.9B$2.0B
Income tax expense$497.0M$379.0M$422.0M
NET INCOME$1.8B$1.5B$1.6B
Net income available to common stockholders$1.7B$1.4B$1.5B
Basic (in shares)433.2M shares450.7M shares475.1M shares
Diluted (in shares)436.9M shares453.5M shares476.7M shares
Basic earnings (in dollars per share)$3.90$3.05$3.14
Diluted earnings (in dollars per share)$3.86$3.03$3.13

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The story

Citizens was established in 1828 as the High Street Bank in Providence, Rhode Island. In 1871, the Rhode Island legislature gave a second charter to establish the Citizens Savings Bank which eventually acquired its parent group to form Citizens Trust Company. The bank then expanded through Rhode Island, opening a total of 29 branches in that state. It established Citizens Financial Group as a holding company when the bank acquired The Greenville Trust Company in 1954.

In 1985, Citizens changed status from a mutual savings bank to a federal stock savings bank. Expansion into other states began with Massachusetts in 1986.

From Wikipedia’s article on Citizens Financial Group, shared under CC BY-SA 4.0.6

Leadership

Who has led Citizens Financial Group, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Saun Bruce Van2014–now

Chair

  1. Saun Bruce Van2014–2026
  2. Donald H. McCree Iii.2026–now

President

  1. Brendan Coughlin2026–now

Chief financial officer

  1. Eric W. Aboaf2015–2017
  2. John F. Woods2017–2025
  3. Christopher R. Emerson2025
  4. Aunoy Banerjee2025–now
197019801990200020102020
Board members and other officers (39)

Products and brands

  • financial services

Listed on Wikidata.1

Subsidiaries and ownership

Former owners and parents

From Wikidata.1

Acquisitions

In August 2018, Citizens completed its acquisition of Franklin American Mortgage in a deal valued at $511 Million, expanding its presence into Tennessee and Texas.

On May 26, 2021, Citizens entered into an agreement with HSBC Bank USA to purchase HSBC's retail operations on the East Coast. Under the agreement, Citizens would acquire approximately $9.0 billion in deposits and approximately $2.2 billion in loans.

In April 2022, Citizens completed the acquisition of 80 branches from HSBC in New York City, New Jersey, Pennsylvania, Washington, D.C., Maryland, Virginia, and Florida.

In July 2021, Citizens announced plans to acquire New Jersey–based bank holding company Investors Bancorp for $3.5 billion. Citizens took over more than 150 branches with the deal. As of February 2023, all Investors locations were rebranded as Citizens Bank.

From Wikipedia’s article on Citizens Financial Group, shared under CC BY-SA 4.0.6

Employees over time

  • 202517,3981

Former names

  • CITIZENS FINANCIAL GROUP INC/DEJul 1, 1999 to Feb 8, 20005

Timeline

  1. Sep 24, 2014Went public Listed on NYSE1
  2. Sep 23, 2014New chief executive Saun Bruce Van becomes CEO17
  3. 1988Acquired Acquired by The Royal Bank of Scotland1
  4. 1954Founded Founded1

Recent filings

  1. Oct 8, 20268-K
  2. Sep 3, 20264
  3. Aug 25, 20263
  4. Aug 17, 20264
  5. Aug 17, 20264
  6. Aug 17, 20264
  7. Aug 17, 20264
  8. Aug 17, 20264
  9. Aug 17, 20264
  10. Aug 17, 20264
  11. Aug 17, 20264
  12. Aug 17, 20264
  13. Aug 17, 20264
  14. Aug 17, 20264
  15. Aug 12, 2026SCHEDULE 13G/A

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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