Citizens Financial Group, Inc. Reports First Quarter 2023 Net Income of $511 million and EPS of $1.00
April 19 2023 - 6:20AM
Business Wire
Underlying Net Income of $560 million and
EPS of $1.10
Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today
reported first quarter 2023 financial results. The earnings press
release, investor presentation, and financial supplement are
available at http://investor.citizensbank.com. In addition, these
materials will be furnished to the Securities and Exchange
Commission (SEC) on a Form 8-K and will be available on the SEC
website at www.sec.gov.
“The first quarter brought unexpected challenges in the
environment, but we proved adaptable and resilient, successfully
navigating through them and delivering solid financial results,“
said Chairman and CEO Bruce Van Saun. “Our capital, liquidity and
funding position remains strong, and our deposits were broadly
stable over the month of March. We remain focused on our deposit
initiatives, taking care of our customers and protecting key
investments while trimming expenses where we can. We are hopeful
that market turmoil continues to subside, and we expect that we
will be able to deliver attractive mid-teens ROTCE for the
year.”
Citizens also announced today that its board of directors
declared a quarterly common stock dividend of $0.42 per share. The
dividend is payable on May 17, 2023 to shareholders of record at
the close of business on May 3, 2023.
As previously announced, Citizens will host a live conference
call to review its first quarter 2023 financial results. Interested
parties may access the call and related materials through the
following details:
Conference Call
Time: 9:00 am ET
Dial-in: (877) 336-4440, conference ID 6086305
Webcast/Presentation: The live webcast will be available at
http://investor.citizensbank.com under Events &
Presentations.
Replay Information: A replay of the conference call will be
available beginning at 12:00 pm ET on April 19, 2023 through May
19, 2023. Please dial (866) 207-1041 and enter access code 2817435.
The webcast replay will be available at
http://investor.citizensbank.com under Events &
Presentations.
About Citizens Financial Group,
Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $222.3 billion in assets as of
March 31, 2023. 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. Citizens helps its customers
reach their potential by listening to them and by understanding
their needs in order to offer tailored advice, ideas and solutions.
In Consumer Banking, Citizens provides an integrated experience
that includes mobile and online banking, a full-service customer
contact center and the convenience of approximately 3,400 ATMs and
approximately 1,100 branches in 14 states and the District of
Columbia. Consumer Banking products and services include a full
range of banking, lending, savings, wealth management and small
business offerings. In Commercial Banking, Citizens offers a broad
complement of financial products and solutions, including lending
and leasing, deposit and treasury management services, foreign
exchange, interest rate and commodity risk management solutions, as
well as loan syndication, corporate finance, merger and
acquisition, and debt and equity capital markets capabilities. More
information is available at www.citizensbank.com or visit us on
Twitter, LinkedIn or Facebook.
Cautionary Statement About
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Any statement that does not describe historical or current facts is
a forward-looking statement. These statements often include the
words “believes,” “expects,” “anticipates,” “estimates,” “intends,”
“plans,” “goals,” “targets,” “initiatives,” “potentially,”
“probably,” “projects,” “outlook,” “hopeful,” “guidance” or similar
expressions or future or conditional verbs such as “may,” “will,”
“should,” “would,” and “could.” Forward-looking statements are
based upon the current beliefs and expectations of management, and
on information currently available to management. Our statements
speak as of the date hereof, and we do not assume any obligation to
update these statements or to update the reasons why actual results
could differ from those contained in such statements in light of
new information or future events. We caution you, therefore,
against relying on any of these forward-looking statements. They
are neither statements of historical fact nor guarantees or
assurances of future performance. More information about factors
that could cause actual results to differ materially from those
described in the forward-looking statements can be found under
“Risk Factors” in our Annual Report on Form 10-K for the year ended
December 31, 2022, as filed with the United States Securities and
Exchange Commission.
CFG-IR
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Media: Peter Lucht — 781.655.2289 Investors: Kristin Silberberg
— 203.900.6854
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