Citizens Survey Finds Business Owners More Optimistic
March 22 2017 - 9:11AM
Business Wire
Majority now believes U.S. economic conditions
will improve this year
Optimism is on the rise among owners of mid-sized U.S.
companies, according to a new Citizens Commercial Banking survey
examining the impact of the presidential election on the appetite
for mergers and acquisitions.
More than half (52 percent) of owners now believe that economic
conditions will improve in the coming year compared with only 34
percent prior to the U.S. election. The follow-up survey of
business leaders, conducted last month, also found that 38 percent
of respondents thought the election would boost what the previous
Citizens Commercial Banking Middle Market M&A Outlook revealed
were high expectations for M&A activity in 2017.
“The election results added more fuel to a positive outlook for
mergers and acquisitions among middle market U.S. companies this
year,” said Bob Rubino, executive vice president and head of
Corporate Finance and Capital Markets at Citizens Commercial
Banking. “Some CEOs are still in wait-and-see mode, but they are
optimistic about possible changes that could improve their bottom
lines and generate more deal-making opportunities.”
Middle market companies – with annual revenue between $5 million
and $2 billion – are key creators of jobs and drivers of economic
activity in the United States. Citizens Commercial Banking serves
thousands of middle market clients in a wide range of industries
across the country.
Citizens Commercial Banking’s survey provides insight into the
behaviors, attitudes and perceptions of business owners and CEOs as
they consider their corporate development strategies for the year
ahead. Other key findings include:
- Among middle market business owners, 71
percent anticipated lower health-care costs to their business in
coming years and 68 percent expected fewer federal
regulations.
- Seventy percent said they expected
lower corporate tax rates while 54 percent anticipated lower
individual tax rates and 39 percent expected capital gains tax
rates to go down.
- Twenty-two percent of business owners
are even more likely to engage in M&A activity in 2017
following the election.
- The percentage of survey respondents
who expect a significant financial crisis in the next three years
dropped from 48 percent to 41 percent.
A leader in middle market banking with expanding M&A
advisory capabilities, Citizens consistently ranks as a Top 10
middle market loan arranger in league tables. Citizens recently
served as advisor on Safe Harbor Marinas’ acquisition of Brewer
Yacht Yard Group and recently published its sixth annual nationwide
Middle Market M&A Outlook.
Citizens Commercial Banking recently became the first U.S. bank
to partner with Opportunity Network to offer Citizens’ clients
access to an innovative business-to-business networking platform
designed to promote growth by connecting business owners to a
network of 13,500 CEOs and $35 billion of deal flow.
Citizens aims to be a go-to strategic and financial partner by
offering unrivaled industry expertise, great ideas and seamless
deal execution. The Citizens Commercial Banking approach puts
clients first, and offers solutions that help clients make the best
decisions throughout the life cycle of their business.
For more information, please visit the Citizens Commercial
Banking website.
Survey Methodology
Last month, Citizens Commercial Banking conducted a follow-up
survey of 200 U.S.-based middle market business decision-makers who
are open to or currently engaged in some form of corporate
development activity, including mergers, acquisitions and raising
capital. For the purposes of this survey, middle market businesses
are defined as private or public companies with annual revenue
between $5 million and $2 billion.
About Citizens Financial Group,
Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $149.5 billion in assets as of
December 31, 2016. Headquartered in Providence, Rhode Island,
Citizens offers a broad range of retail and commercial banking
products and services to individuals, small businesses,
middle-market companies, large corporations and institutions. In
Consumer Banking, Citizens helps its retail customers “bank better”
with mobile and online banking, a 24/7 customer contact center and
the convenience of approximately 3,200 ATMs and approximately 1,200
Citizens Bank branches in 11 states in the New England,
Mid-Atlantic and Midwest regions. Citizens also provides wealth
management, mortgage lending, auto lending, student lending and
commercial banking services in select markets nationwide. In
Commercial Banking, Citizens offers corporate, institutional and
not-for-profit clients a full range of wholesale banking products
and services including lending and deposits, capital markets,
treasury services, foreign exchange and interest hedging, leasing
and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A.,
and Citizens Bank of Pennsylvania as Citizens Bank, Citizens
Commercial Banking and Citizens One. Additional information about
Citizens and its full line of products and services can be found at
www.citizensbank.com.
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Citizens Financial Group, Inc.Frank Quaratiello,
617-725-5851frank.quaratiello@citizensbank.com
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