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Jun 30, 2023
Citizens Q2 2023 Earnings Report
Citizens reported Q2 2023 earnings with a net income of $478 million and EPS of $0.92.
Key Takeaways
Citizens Financial Group reported a net income of $478 million and EPS of $0.92 for the second quarter of 2023. The company focused on strengthening its capital, liquidity, and funding position, improved its CET1 ratio to 10.3%, grew deposits by $5.5 billion, and reduced FHLB borrowings by almost $7 billion.
Underlying EPS was $1.04 and ROTCE was 13.9%.
Underlying PPNR was $861 million, with higher fees, lower NII and stable expenses.
Period-end deposits increased by $5.5 billion, or 3% QoQ.
CET1 ratio improved to 10.3% and $256 million in common shares were repurchased.
Citizens
Citizens
Forward Guidance
No specific forward guidance was provided in the document.