CITIZENS FINANCIAL GROUP INCRI

For the period ended Dec 31, 2023. Filed Feb 16, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 16, 2024

CFG$65.10+2.9%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

	Year Ended December 31,
(dollars in millions, except per share data)	2023	2022	2021
INTEREST INCOME:
Interest and fees on loans and leases	$8,489	$5,968	$4,253
Interest and fees on loans held for sale	73	67	82
Interest and fees on other loans held for sale	29	57	13
Investment securities	1,162	840	487
Interest-bearing deposits in banks	451	128	16
Total interest income	10,204	7,060	4,851
INTEREST EXPENSE:
Deposits	3,145	651	160
Short-term borrowed funds	43	23	1
Long-term borrowed funds	775	374	178
Total interest expense	3,963	1,048	339
Net interest income	6,241	6,012	4,512
Provision (benefit) for credit losses	687	474	(411)
Net interest income after provision (benefit) for credit losses	5,554	5,538	4,923
NONINTEREST INCOME:
Service charges and fees	410	420	409
Capital markets fees	319	368	428
Card fees	296	273	250
Trust and investment services fees	259	249	239
Mortgage banking fees	242	261	434
Foreign exchange and derivative products	183	188	120
Letter of credit and loan fees	168	159	156
Securities gains, net	28	9	10
Other income	78	82	89
Total noninterest income	1,983	2,009	2,135
NONINTEREST EXPENSE:
Salaries and employee benefits	2,599	2,549	2,132
Equipment and software	756	648	610
Outside services	687	700	595
Occupancy	492	410	333
Other operating expense	973	585	411
Total noninterest expense	5,507	4,892	4,081
Income before income tax expense	2,030	2,655	2,977
Income tax expense	422	582	658
NET INCOME	$1,608	$2,073	$2,319
Net income available to common stockholders	$1,491	$1,960	$2,206
Weighted-average common shares outstanding:
Basic	475,089,384	475,959,815	425,669,451
Diluted	476,693,148	477,803,142	427,435,818
Per common share information:
Basic earnings	$3.14	$4.12	$5.18
Diluted earnings	3.13	4.10	5.16

Citizens Financial Group, Inc. | 85

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.