CITIZENS FINANCIAL GROUP INCRI
For the period ended Mar 31, 2024. Filed May 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
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Deposits
| Table 15: Composition of Deposits | ||||
|---|---|---|---|---|
| (dollars in millions) | March 31, 2024 | % of Total Deposits | December 31, 2023 | % of Total Deposits |
| Demand | $36,593 | 21% | $37,107 | 21% |
| Money market | 52,182 | 30 | 53,812 | 30 |
| Checking with interest | 34,487 | 19 | 31,876 | 18 |
| Savings | 27,912 | 16 | 27,983 | 16 |
| Term | 25,254 | 14 | 26,564 | 15 |
| Total deposits | $176,428 | 100% | $177,342 | 100% |
Total deposits as of March 31, 2024 decreased compared to December 31, 2023, reflecting growth in retail and Private Bank deposits, which were more than offset by seasonal declines in commercial.
| Table 16: Uninsured and Insured/Secured Deposits | ||
|---|---|---|
| (dollars in millions) | March 31, 2024 | December 31, 2023 |
| Total deposits | $176,428 | $177,342 |
| Estimated uninsured deposits(1) | 69,658 | 73,584 |
| Less: Uninsured affiliate deposits eliminated in consolidation | 10,457 | 14,650 |
| Less: Preferred deposits(1)(2) | 6,769 | 7,486 |
| CFG adjusted estimated uninsured deposits, excluding preferred deposits | 52,432 | 51,448 |
| Total estimated insured/secured deposits | $123,996 | $125,894 |
| Insured/secured deposits to total deposits | 70% | 71% |
(1) As reported on CBNA’s Call Report.
(2) Represents uninsured deposits of states and political subdivisions that are secured or collateralized as required under state law.
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