CITIZENS FINANCIAL GROUP INC/RI
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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Business Segments
We have two reportable business segments: Consumer Banking and Commercial Banking. The business segments are determined based on the products and services provided, or the type of customer served. Each business segment has a segment head that reports directly to the Chief Executive Officer, who has final authority over resource allocation decisions and performance assessment. The business segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer.
See Note 1 for information regarding segment changes made during the fourth quarter of 2025 and Note 24 for more information regarding our business segments.
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The following table presents certain financial data of our reportable business segments. Total business segment financial results differ from total consolidated financial results. These differences are reflected in Other non-segment operations, consisting primarily of treasury and community development, and include assets, liabilities, capital, revenues, provision (benefit) for credit losses, expenses, and income tax expense (benefit) not attributed to the Company’s reportable business segments.
| Table 12: Selected Financial Data for Business Segments | ||||
|---|---|---|---|---|
| Consumer Banking · Commercial Banking | ||||
| Year Ended December 31, | Year Ended December 31, | |||
| (dollars in millions) | 2025 | 2024 | 2025 | 2024 |
| Net interest income | $4,972 | $4,564 | $1,778 | $1,950 |
| Noninterest income | 1,252 | 1,131 | 995 | 908 |
| Total revenue | 6,224 | 5,695 | 2,773 | 2,858 |
| Noninterest expense | 3,880 | 3,677 | 1,334 | 1,241 |
| Profit (loss) before credit losses | 2,344 | 2,018 | 1,439 | 1,617 |
| Net charge-offs | 328 | 331 | 309 | 353 |
| Income (loss) before income tax expense (benefit) | 2,016 | 1,687 | 1,130 | 1,264 |
| Income tax expense (benefit) | 510 | 434 | 265 | 291 |
| Net income (loss) | $1,506 | $1,253 | $865 | $973 |
| Average Balances: | ||||
| Total assets | $79,925 | $75,064 | $66,137 | $68,478 |
| Total loans and leases(1) | 73,443 | 68,681 | 62,941 | 65,481 |
| Deposits | 128,275 | 121,745 | 43,657 | 44,472 |
| Interest-earning assets | 74,035 | 69,272 | 63,677 | 65,982 |
(1)Includes LHFS.
Consumer Banking
Net interest income increased $408 million compared to 2024, driven by higher net interest margin and growth in average interest-earning assets.
Noninterest income increased $121 million compared to 2024, driven by wealth fees, mortgage banking fees, and service charges and fees, reflecting growth in assets under management, primarily driven by net inflows as well as market appreciation, higher MSR valuation results, net of hedging, and higher overdraft and cash management fees.
Noninterest expense increased $203 million compared to 2024, driven primarily by salaries and benefits reflecting hiring related to the Private Bank and Private Wealth build-out, as well as an increase in medical benefit costs, and outside services given investments across the enterprise.
Net charge-offs were stable compared to 2024.
Commercial Banking
Net interest income decreased $172 million compared to 2024, driven by lower net interest margin and a decline in average interest-earning assets.
Noninterest income increased $87 million compared to 2024, driven by capital markets fees reflecting higher loan syndication and equity underwriting fees, partially offset by lower M&A fees.
Noninterest expense increased $93 million compared to 2024, driven primarily by salaries and benefits given strong capital markets fee performance and increased medical benefit costs, and outside services given investments across the enterprise.
Net charge-offs decreased $44 million compared to 2024, driven by CRE, partially offset by an increase in commercial and industrial.
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