Loading...
•
Mar 31, 2023
Citizens Q1 2023 Earnings Report
Citizens Financial Group reported first quarter 2023 results, with net income of $511 million and EPS of $1.00.
Key Takeaways
Citizens Financial Group reported a solid first quarter in 2023, navigating a challenging environment to deliver a net income of $511 million and an EPS of $1.00. The company's capital, liquidity, and funding positions remain strong, with deposits broadly stable over the month of March. They are focused on deposit initiatives, customer care, and protecting key investments while trimming expenses.
Completed Investors conversion; New York Metro and New Jersey market entry progressing well
Underlying EPS of $1.10 and ROTCE of 15.8%
Underlying PPNR of $898 million, with lower NII and fees, seasonally higher expense
Continued strong credit performance with ACL/loans ratio up 4 bps to 1.47%
Citizens
Citizens
Forward Guidance
The company expects to deliver attractive mid-teens ROTCE for the year.