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Sep 30, 2023
Citizens Q3 2023 Earnings Report
Citizens Financial Group reported Q3 2023 results with net income of $430 million and EPS of $0.85.
Key Takeaways
Citizens Financial Group reported a net income of $430 million and EPS of $0.85 for Q3 2023. The underlying EPS was $0.89, which includes impacts from Private Bank start-up investment and Non-Core portfolio. The CET1 ratio stood at 10.4%.
Underlying EPS of $0.89 and ROTCE of 12.5%
Underlying PPNR of $743 million, with lower NII and fees, and expenses up slightly including Private Bank start-up investment
Underlying efficiency ratio of 63.1%, or 61.4% excluding Private Bank start-up investment
Strong CET1 ratio above target range at 10.4%; repurchased $250 million in common shares
Citizens
Citizens
Forward Guidance
The company will continue to play strong defense given the external environment while advancing important strategic initiatives.