Citizens Financial Group ( (CFG) ) has released its Q1 earnings. Here is a breakdown of the information Citizens Financial Group presented to its investors.
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Citizens Financial Group, Inc. is a prominent financial institution based in Providence, Rhode Island, offering a wide range of retail and commercial banking services across the United States. In the first quarter of 2025, Citizens Financial Group reported a net income of $373 million, with earnings per share (EPS) of $0.77. The company maintained a strong Common Equity Tier 1 (CET1) ratio of 10.6% and a loan-to-deposit ratio (LDR) of 77.5%. The quarter saw a decrease in pre-provision net revenue (PPNR) by 9% quarter-over-quarter, influenced by a decline in net interest income and fees, alongside a slight increase in expenses due to seasonal impacts. A significant strategic move was the agreement to sell approximately $1.9 billion of non-core education loans, which is expected to enhance liquidity and capital. Despite a slight decrease in period-end loans, core loans increased by 1% quarter-over-quarter, and spot deposits rose by 2%, driven by growth in private banking. Looking forward, the management remains optimistic about navigating future challenges, citing strong business positioning and financial discipline as key strengths.