Document

EX-99.1 2 a3q24earningsrelease.htm EX-99.1 Document

市民金融集團第三季2024年凈利潤為

3.82億美元和每股收益為0.77美元

凈利潤為39200萬美元，每股收益為0.79美元*

CET1比率為10.6％；LDR為80.8％


	主要財務數據	3Q24			2Q24			3Q23			2024年第三季度亮點

收入。表述	(以百萬美元計)										■基本每股收益為0.79美元，ROTCE為9.7% ■凈收益淨增加值為6.55億美元 –淨利息收益率環比下降2.9%，主要原因是凈利息差下降10個基點，主要原因是順延起始掉期的影響 –手續費環比下降2.7%，反映季節性較低的資本市場; 在信用卡和財富領域獲得穩健的業績 –雖然持續投資於私人銀行，支出環比下降1.3% ■強勢資產損失覆蓋率為1.61%，環比下降2個基點 ■期末貸款整體保持穩定，核心貸款增長抵消非核心減少，主要是私人銀行和零售; 期末私人銀行貸款增加6.34億美元，達到20億美元 ■平均存款環比穩定；私人銀行現金存款增加16億美元至56億美元 ■極強的流動性資產結構；現金貸放比率為80.8％；基本銀行房屋貸款聯資計劃（FHLb）現金減少5.53億美元，按現時基礎減少65億美元 –超過第1類銀行要求的100％的122％的資本額覆蓋率（LCR） ■逾放賬餘額為54個基本點，環比上升2個基本點 ■10.6%的較高共同權益一級資本比率；7.0%的核心一級資本比率。 ■每股普通股淨資產價值為33.54美元，較上季增加9.6%，反映淨AOCI利益。
	營業總收入	$	1,901		$	1,963		$	2,014
	稅前利潤	642			662			721
	除去淨零儲備之前的利潤	655			694			743
	信用損失準備	172			182			172

	凈利潤	382			392			430

	基礎凈利潤	392			408			448




資產負債表 & 信貸質素	（十億美元）
	期末貸款和租賃	$	141.6		$	141.8		$	149.7
	平均貸款和租賃	142.0			143.1			150.8
	期末存款	175.2			176.4			178.2
	平均存款	174.1			173.7			176.5
	期末貸款存款比	80.8		%	80.4		%	84.0		%

	不良貸款率	0.54		%	0.52		%	0.40		%

財務指標	攤薄後每股收益	$	0.77		$	0.78		$	0.85
	基本每股摊薄收益率	0.79			0.82			0.89
	ROTCE	9.5		%	10.6		%	12.0		%
	基本ROTC後每股收益率	9.7			11.1			12.5
	凈利息收益率，FTE	2.77			2.87			3.03
	效率比	66.2			66.3			64.2
	基礎效率比率	65.6			64.6			63.1
	CET1	10.6		%	10.7		%	10.4		%
	每股淨資產價值	$	33.54		$	30.61		$	27.73


重要項目		3Q24
	（以百萬美元為單位，除每股數據外）	稅前 $		每股收益
	整合相關	$	(2)	$	—


	TOP和其他項目	(11)		(0.02)



	總計	$	(13)	$	(0.02)


董事長兼CEO布魯斯·范桑的評論

董事長兼CEO Bruce Van Saun表示：“在第三季度，我們對我們的主要倡議計畫的強勁執行感到滿意。”“我們的私人銀行存款達到了56億美元，管理資產達到了41億美元，我們紐約大都會地區持續實現強勁增長，我們即將推出超過10000萬美元影響力的TOP 10計畫。我們的資產負債表

*基礎基礎呈現的業績屬於非通用會計財務指標。詳細資訊請參見第15頁，瞭解我們對非通用會計財務指標的使用方式.

市民金融集團，股份有限公司。

在資本、流動性、籌資和貸款損失準備方面仍然強勁。儘管第三季受七月開始的預啟動掉期所帶來的影響，以及部分費用推遲到第四季的拖累，我們預計第四季將強勁，並啟動進入2025年。

Citizens今日宣布其董事會宣布每股0.42美元的季度普通股股息。該股息將於2024年11月13日支付給截至2024年10月30日業務收盤時的股東。

市民金融集團，股份有限公司。

營收亮點(1):


	季度趨勢
										3Q24變動
(以百萬美元計算，每股數據除外)	3Q24			2Q24			3Q23			2Q24					3Q23
累積盈餘										每股利潤 / 每基點利息收入			%		每股利潤 / 每基點利息收入			%
淨利息收益	$	1,369		$	1,410		$	1,522		$	(41)		(3)	%	$	(153)		(10)	%
非利息收入	532			553			492			(21)			(4)		40			8
營業總收入	1,901			1,963			2,014			(62)			(3)		(113)			(6)
非利息支出	1,259			1,301			1,293			(42)			(3)		(34)			(3)
呈現前提備抵款項利潤	642			662			721			(20)			(3)		(79)			(11)
信用損失準備	172			182			172			(10)			(5)		—			—

凈利潤	382			392			430			(10)			(3)		(48)			(11)
優先股息	38			35			30			3			9		8			27
可供普通股東取得的凈利潤	$	344		$	357		$	400		$	(13)		(4)	%	$	(56)		(14)	%
稅後顯著項目	10			16			18			(6)			(38)		(8)			(44)
基礕凈利潤	$	392		$	408		$	448		$	(16)		(4)	%	$	(56)		(13)	%
基底凈利潤可供普通股股東分享	354			373			418			(19)			(5)		(64)			(15)
平均普通股份在外
基本 (以百萬計)	446.6			454.1			469.5			(7.6)			(2)		(22.9)			(5)
稀釋 (以百萬計)	449.9			456.6			471.2			(6.6)			(1)		(21.3)			(5)
稀釋每股盈利	$	0.77		$	0.78		$	0.85		$	(0.01)		(1)	%	$	(0.08)		(9)	%
基礎稀釋每股盈利	0.79			0.82			0.89			(0.03)			(4)		(0.10)			(11)
績效指標
凈利息收益率	2.76		%	2.86		%	3.03		%	(10)		基點			(27)		基點
凈利息收益率，全職員工	2.77			2.87			3.03			(10)					(26)
綜合所得稅率	18.6			18.5			21.5			7					(295)

效率比	66.2			66.3			64.2			(4)					202
基礎效率比率	65.6			64.6			63.1			102					253


平均有形普通股權益報酬率	9.5			10.6			12.0			(116)					(255)
基本的平均有形普通股權益報酬率	9.7			11.1			12.5			(138)					(280)

平均總有形資產報酬率	0.72			0.75			0.81			(3)					(9)
基本平均總有形資產報酬率	0.74		%	0.78		%	0.84		%	(4)		基點			(10)		基點
資本充足度(2,3)
普通股一級股本比率	10.6		%	10.7		%	10.4		%
總資本比率	13.9			14.0			13.4
一級槓桿比率	9.4			9.4			9.4
有形普通股權率	7.0			6.5			5.9
信貸損失撥備及貸款與租賃比率	1.61		%	1.63		%	1.55		%	(2)		基點			6		基點
資產品質(3)
非應計貸款及租賃占貸款與租賃比率	1.19		%	1.08		%	0.87		%	11		基點			32		基點
信用損失撥備對未計提貸款及租賃	136			151			179			(15)					(43)
凈核銷率佔平均貸款及租賃的百分比	0.54		%	0.52		%	0.40		%	2		基點			14		基點

(1) 除非另有註明，有關資產負債表項目的參考均以平均基礎計算，貸款不包括待售貸款，每股收益

代表每股全稀釋通膨、並參照NIm的話是以全職等基準計算。

(2) 目前報告期監管資本比率為初步數據。

(3) 以期末基礎計算的資本充足率和資產質量比率，除了淨轉償。

市民金融集團，股份有限公司。

以下的表格提供了排除重要項目影響的基本結果信息。

基礎結果：


	季度趨勢
										3Q24變化自
（金額以百萬美元為單位，每股數據除外）	3Q24			2Q24			3Q23			2Q24					3Q23
										美元/基數點			%		美元/基數點			%
淨利息收益	$	1,369		$	1,410		$	1,522		$	(41)		(3)	%	$	(153)		(10)	%
非利息收入	534			549			492			(15)			(3)		42			9


營業總收入	$	1,903		$	1,959		$	2,014		$	(56)		(3)	%	$	(111)		(6)	%





非利息支出	1,248			1,265			1,271			(17)			(1)		(23)			(2)






信用損失準備	172			182			172			(10)			(5)		—			—

可供普通股股東使用的凈利潤	$	354		$	373		$	418		$	(19)		(5)	%	$	(64)		(15)	%
績效指標

每股收益	$	0.79		$	0.82		$	0.89		$	(0.03)		(4)	%	$	(0.10)		(11)	%

效率比	65.6		%	64.6		%	63.1		%	102		基點			253		基點

平均有形普通股權益報酬率	9.7		%	11.1		%	12.5		%	(138)		基點			(280)		基點

綜合資產負債表摘要(1):


										3Q24變化自
（以百萬美元計）	3Q24			2Q24			3Q23			2Q24					3Q23
										每股收益			%		每股收益			%
資產總額	$	219,706		$	219,938		$	225,270		$	(232)		—	%	$	(5,564)		(2)	%
貸款和租賃總額	141,632			141,842			149,746			(210)			—		(8,114)			(5)
持有待售的總貸款	663			683			848			(20)			(3)		(185)			(22)
存款	175,188			176,352			178,197			(1,164)			(1)		(3,009)			(2)

股東權益	24,932			23,869			22,878			1,063			4		2,054			9
股東的普通股權益	22,819			21,757			20,864			1,062			5		1,955			9
有形普通股權益	$	14,930		$	13,866		$	12,930		$	1,064		8	%	$	2,000		15	%
存款貸款比（期末）(2)	80.8		%	80.4		%	84.0		%	42		基點			(318)		基點
存款貸款比（平均值）(2)	81.6		%	82.4		%	85.5		%	(79)		基點			(387)		基點


(1) 除非另有說明，否則表示期末。
(2) 不包括待售貸款。

市民金融集團，股份有限公司。

顯著項目:

季度業績反映了與最近收購相關的整合成本，以及TOP營業收入和效率倡議以及其他項目。此外，2024年第二季度包括一個與整個行業有關的FDIC特別評估的重要項目。這些重要項目已從報告的結果中排除，以更好地反映基礎營運結果。


重要事項 - 關於整合的相關資料	3Q24				2Q24			3Q23
(以百萬美元計算，每股數據除外)	稅前		稅後			稅前		稅後		稅前		稅後





薪資和福利	$	(2)	$	(2)		$	(3)	$	(2)	$	(4)	$	(3)
設備和軟體	—		—			—		—		—		—
外部服務	—		—			—		—		(4)		(3)
入住率	—		—			—		—		—		—
其他費用	—		—			—		—		—		—
非利息支出	$	(2)	$	(2)		$	(3)	$	(2)	$	(8)	$	(6)

每股收益影響-非利息支出			$	—				$	(0.01)			$	(0.02)












整合相關總計	$	(2)	$	(2)		$	(3)	$	(2)	$	(8)	$	(6)

每股收益影響-總整合相關			$	—				$	(0.01)			$	(0.02)

其他顯著事項-最高及其他	3Q24				2Q24			3Q23
(以百萬美元計算，每股數據除外)	稅前		稅後			稅前		稅後		稅前		稅後

Tax notable items	$	—	$	—		$	—	$	7	$	—	$	—





Noninterest income	(2)		(1)			4		3		—		—

Salaries & benefits	(2)		(2)			(5)		(4)		(1)		—
設備和軟體	(2)		(2)			(4)		(3)		(6)		(5)
外部服務	(2)		(2)			(10)		(7)		(3)		(3)
入住率	(1)		—			(6)		(4)		(2)		(2)
$(1)	—		—			(5)		(4)		—		—
其他費用	(2)		(1)			(3)		(2)		(2)		(2)
非利息支出	$	(9)	$	(7)		$	(33)	$	(24)	$	(14)	$	(12)

總其他顯著項目	$	(11)	$	(8)		$	(29)	$	(14)	$	(14)	$	(12)

每股收益影響-其他顯著項目			$	(0.02)				$	(0.03)			$	(0.02)

總顯著項目	$	(13)	$	(10)		$	(32)	$	(16)	$	(22)	$	(18)

總每股收益影響			$	(0.02)				$	(0.04)			$	(0.04)
(1) FDIC特別評估收益每股影響為第二季度2024年$（0.01）。

Citizens Financial Group, Inc.

結果討論：


淨利息收益										3Q24變動
(以百萬美元計)	3Q24			2Q24			3Q23			2Q24					3Q23
										每股利潤 / 每基點利息收入			%		每股利潤 / 每基點利息收入			%
利息收入：
貸款和租賃產生的利息和費用，以及持有待售的貸款產生的利息	$	1,995		$	2,028		$	2,194		$	(33)		(2)	%	$	(199)		(9)	%
投資證券	423			417			290			6			1		133			46
銀行存款中的利息軸承	121			130			111			(9)			(7)		10			9
利息收入總額	$	2,539		$	2,575		$	2,595		$	(36)		(1)	%	$	(56)		(2)	%
利息支出：
存款	$	990		$	965		$	898		$	25		3	%	$	92		10	%


短期借入款項	3			4			8			(1)			(25)		(5)			(63)
長期借入款項	177			196			167			(19)			(10)		10			6
總利息費用	$	1,170		$	1,165		$	1,073		$	5		—	%	$	97		9	%
淨利息收益	$	1,369		$	1,410		$	1,522		$	(41)		(3)	%	$	(153)		(10)	%

凈利息收益率，FTE	2.77		%	2.87		%	3.03		%	(10)		基點			(26)		基點


2024年第三季			對			2024年第二季

14億元的凈利息收入下降了2.9%，主要反映了較低的凈利息收益率和稍微較低的利息賺取資產。

•凈利息收益率為2.77%，下降了10個基點，主要反映了遠期掉期的影響（9個基點）和低成本存入資金遷徙，部分抵銷了高固定利率重定價和非核心運行的好處。

•计息存入资金成本上涨4个基点；总存入资金成本上涨2个基点，所有基金类型成本稳定在2.48%。


2024年第三季			對			2023年第三季

資產收益淨利息收益率為14億元，下降10%，反映利息淨利息收益率下降和平均利息賺取資產下降1%。

•凈利息收益率為2.77%，下降26個基點，因交換和籌資成本增加，以及建立流動性所帶來的影響部分抵銷了較高的利息收入資產收益率和非核心部門運行的好處。

市民金融集團，股份有限公司。


非利息收入							3Q24變動
(以百萬美元計)	3Q24		2Q24		3Q23		2Q24				3Q23
							$		%		$		%

服務費用和手續費	$	109	$	106	$	105	$	3	3	%	$	4	4	%
資本市場費用	94		134		67		(40)		(30)		27		40
卡費	93		92		74		1		1		19		26
財富費用(1)	76		75		63		1		1		13		21
按揭銀行費用	46		54		69		(8)		(15)		(23)		(33)
匯率期貨和衍生產品	36		39		48		(3)		(8)		(12)		(25)
信用證和貸款費用	45		43		43		2		5		2		5
證券收益，凈利潤	9		—		5		9		100		4		80
其他收益(2)	24		10		18		14		140		6		33
非利息收入	$	532	$	553	$	492	$	(21)	(4)	%	$	40	8	%
根據情況，可能適用於基礎交易
卡費	$	87	$	88	$	74	$	(1)	(1)		$	13	18
其他收益(2)	$	32	$	10	$	18	$	22	220		$	14	78

非利息收入基礎	$	534	$	549	$	492	$	(15)	(3)	%	$	42	9	%


(1) 自2Q24生效，trust 和投資服務費用更名為財富費用，以更好地反映為我們的客戶提供的廣泛財富相關管理費用和服務。 (2) 包括銀行擁有的人壽保險收入和其他各期雜項收入。


2024年第三季			對			2024年第二季

底层非利息收入為53400萬美元，減少1500萬美元，或2.7%。

•服務費增加了300萬美元，反映逾期支票和現金管理費用增加。

•資本市場費用減少了4000萬美元，主要是由於季節性較低的貸款聯合融資和債務承銷費用。此外，數個重要的預期第3季的併購費用推遲至第4季。

•財富費用增加了100萬美元，反映了較高的資產管理費用，但大部分被較低的交易銷售活動所抵銷。

•按揭銀行費用減少了800萬美元，原因是主要受到MSR估值的下降所影響，抵銷了這一季度MSR收入的減少，後者是由於投資組合重定位行動而產生的證券收益。

•匯率期貨和衍生產品的營業收入減少了300萬美元，主要反映出由於聯邦基金利率下調的開始和未來利率曲線的下移，客戶對避險活動的降低。

•其他收入從包括更高營運虧損的第二季水平增加了2,200萬美元。


2024年第三季			對			2023年第三季

底層非利息收入為5,3400萬美元，增加4,200萬美元，或9%。

•服務費和費用增加了400萬美元，主要是由於透支和現金管理費用上升。

•資本市場費用增加了2700萬美元，主要由於債券型承銷和併購諮詢的增加，部分抵銷了貸款聯合籌資費用的下降。

•卡費增加了1300萬美元，主要是由於有利的供應商合同談判。

•財富管理費增加了1300萬美元，反映了銷售活動增加和較高的資產管理費。

•按揭銀行手續費減少了$2300萬，主要是由於低MSR估值，扣除避險。

•外匯期貨和衍生產品營業收入減少了1200萬美元，因客戶在利率和商品避險方面的活動較少。

市民金融集團，股份有限公司。


非利息支出							3Q24變動
(以百萬美元計)	3Q24		2Q24		3Q23		2Q24				3Q23
							$		%		$		%
薪酬和員工福利	$	647	$	645	$	659	$	2	—	%	$	(12)	(2)	%
設備和軟體	194		190		191		4		2		3		2
外部服務	146		165		160		(19)		(12)		(14)		(9)
入住率	108		113		107		(5)		(4)		1		1
其他營業費用	164		188		176		(24)		(13)		(12)		(7)
非利息支出	$	1,259	$	1,301	$	1,293	$	(42)	(3)	%	$	(34)	(3)	%

顯著事項	$	11	$	36	$	22	$	(25)	(69)	%	$	(11)	(50)%

相關時，如適用
薪酬和員工福利	$	643	$	637	$	654	$	6	1	%	$	(11)	(2)	%
設備和軟體	192		186		185		6		3		7		4
外部服務	144		155		153		(11)		(7)		(9)		(6)
入住率	107		107		105		—		—		2		2
其他營業費用	162		180		174		(18)		(10)		(12)		(7)
基礎非利息開支	$	1,248	$	1,265	$	1,271	$	(17)	(1)	%	$	(23)	(2)	%


Third quarter 2024			vs.			second quarter 2024

Underlying noninterest expense of $1.2 billion decreased 1.3%.

•Salaries and employee benefits increased $6 million, primarily reflecting hiring related to the Private Bank build-out.

•Equipment and software increased $6 million given technology investments and maintenance.

•Outside services decreased $11 million, largely driven by vendor efficiencies.

•Other operating expense decreased $18 million, primarily reflecting lower marketing-related costs and miscellaneous items.

Reported noninterest expense of $1.3 billion decreased $42 million, reflecting a reduction in Notable items.

The effective tax rate was 18.6% in third quarter 2024. On an underlying basis, the effective tax rate of 18.7% decreased modestly compared to 20.3% in second quarter 2024, primarily reflecting a higher benefit from tax-advantaged investments.


Third quarter 2024			vs.			third quarter 2023

Underlying noninterest expense of $1.2 billion decreased 2%.

•Salaries and employee benefits decreased $11 million, primarily reflecting lower headcount, partly offset by hiring related to the Private Bank build-out.

•Equipment and software increased $7 million given technology investments and maintenance.

•Other operating expense decreased $12 million, primarily related to lower marketing-related costs.

The effective tax rate was 18.6% in third quarter 2024. On an underlying basis, the effective tax rate of 18.7% compared with 21.7% in third quarter 2023.

市民金融集團，股份有限公司。


賺取利息的資產							3Q24變動
(以百萬美元計)	3Q24		2Q24		3Q23		2Q24				3Q23
期末利息收入資產							$		%		$		%
投資	$	42,428	$	41,677	$	35,547	$	751	2	%	$	6,881	19	%
銀行存款中的利息軸承	10,584		11,139		14,329		(555)		(5)		(3,745)		(26)
商業貸款和租賃	71,808		71,934		77,457		(126)		—		(5,649)		(7)
零售貸款	69,824		69,908		72,289		(84)		—		(2,465)		(3)
貸款和租賃總額	141,632		141,842		149,746		(210)		—		(8,114)		(5)
待售的貸款，按公允價值衡量	614		591		749		23		4		(135)		(18)
其他待售貸款	49		92		99		(43)		(47)		(50)		(51)
總貸款和租賃以及待售貸款	142,295		142,525		150,594		(230)		—		(8,299)		(6)
期末總利息收入資產	$	195,307	$	195,341	$	200,470	$	(34)	—	%	$	(5,163)	(3)	%
平均利息收入資產
投資(1)	$	45,084	$	44,692	$	39,273	$	392	1	%	$	5,811	15	%
銀行存款中的利息軸承	8,896		9,650		8,005		(754)		(8)		891		11
商業貸款和租賃	72,280		72,955		78,261		(675)		(1)		(5,981)		(8)
零售貸款	69,723		70,112		72,530		(389)		(1)		(2,807)		(4)
貸款和租賃總額	142,003		143,067		150,791		(1,064)		(1)		(8,788)		(6)
待售的貸款，按公允價值衡量	1,108		896		1,204		212		24		(96)		(8)
其他備售貸款	73		160		321		(87)		(54)		(248)		(77)
總貸款和租賃以及備售貸款	143,184		144,123		152,316		(939)		(1)		(9,132)		(6)
利息收入資產總平均	$	197,164	$	198,465	$	199,594	$	(1,301)	(1)	%	$	(2,430)	(1)	%
(1) 利息收入資產總平均不包括投資證券的按市價評估及未了結的貸款和投資銷售。


2024年第三季			對			2024年第二季

期末利息收入資產為1953億美元，相對穩定，反映出貸款和租賃減少21000萬美元，利息存款減少55500萬美元，部分抵銷了投資證券增加75100萬美元。貸款和租賃的減少反映了商業貸款和資產負債表優化行動減少了12600萬美元，以及市場條件導致客戶需求降低。結果還反映出零售部門減少8400萬美元，由於10億的非核心組合套現，部分抵消了家庭股權和抵押貸款的增長。

資產平均利率下降了13億美元，或1％，反映了總貸款和租賃減少了11億美元，利息票據存款減少了75400萬美元，部分抵銷了投資增加了39200萬美元。貸款和租賃的減少反映出商業支付和資產負債表優化行動減少了67500萬美元，以及市場情況推動客戶需求降低。零售下降38900萬美元，主要是由非核心投資組合退出所致，部分抵銷了家庭股本和按揭貸款的增長。

證券投資組合的平均有效期為s 3.3 年相較之下，2024年6月30日為3.7年，2023年9月30日為5.2年。


Third quarter 2024			vs.			third quarter 2023

Period-end interest-earning assets of $195.3 billion decreased $5.2 billion, or 3%, reflecting a $8.3 billion decrease in total loans and leases and loans held for sale and a $3.7 billion decrease in investments in cash held in interest-bearing deposits, partly offset by a $6.9 billion increase in investments in securities. The decrease in loans and leases reflects a $5.6 billion decline in commercial given paydowns, balance sheet optimization actions and lower client demand, and a $2.5 billion decline in retail given $4.5 billion of Non-Core portfolio run off, partly offset by growth in home equity and mortgage.

Average interest-earning assets of $197.2 billion decreased $2.4 billion, or 1%, reflecting a $9.1 billion decrease in total loans and leases and loans held for sale, partly offset by a $5.8 billion increase in investments in securities and a $891 million increase in cash held in interest-bearing deposits.

Citizens Financial Group, Inc.


Deposits							3Q24 change from
($s in millions)	3Q24		2Q24		3Q23		2Q24				3Q23
Period-end deposits							$		%		$		%
Demand	$	35,978	$	36,927	$	38,561	$	(949)	(3)	%	$	(2,583)	(7)	%
Money market	54,654		52,599		53,517		2,055		4		1,137		2
Checking with interest	33,680		34,421		33,355		(741)		(2)		325		1
Savings	26,489		27,240		29,139		(751)		(3)		(2,650)		(9)
Term	24,387		25,165		23,625		(778)		(3)		762		3
Total period-end deposits	$	175,188	$	176,352	$	178,197	$	(1,164)	(1)	%	$	(3,009)	(2)	%
Average deposits
Demand	$	36,236	$	36,205	$	39,728	$	31	—	%	$	(3,492)	(9)	%
Money market	53,152		51,570		52,057		1,582		3		1,095		2
Checking with interest	33,090		33,659		33,545		(569)		(2)		(455)		(1)
Savings	26,868		27,560		29,516		(692)		(3)		(2,648)		(9)
Term	24,705		24,676		21,604		29		—		3,101		14
Total average deposits	$	174,051	$	173,670	$	176,450	$	381	—	%	$	(2,399)	(1)	%


Third quarter 2024			vs.			second quarter 2024

Total period-end deposits of $175.2 billion decreased 1% reflecting a reduction in higher-cost Treasury deposits, largely offset by $1.6 billion of growth in the Private Bank.

Average deposits of $174.1 billion are broadly stable reflecting $1.7 billion growth in Private Bank deposits, as well as stable Retail and Commercial deposits, largely offset by reduced higher-cost Treasury deposits.


Third quarter 2024			vs.			third quarter 2023

Average deposits of $174.1 billion decreased 1%. Total period-end deposits of $175.2 billion decreased 2% driven by a reduction in higher-cost Treasury deposits, as well as rate-driven migration in Commercial and Retail, largely offset by growth in Private Bank deposits of $5.4 billion.

Citizens Financial Group, Inc.


Borrowed Funds							3Q24 change from
($s in millions)	3Q24		2Q24		3Q23		2Q24				3Q23
Period-end borrowed funds							$		%		$		%
Short-term borrowed funds	$	15	$	2	$	232	$	13	NM		$	(217)	(94)	%
Long-term borrowed funds
FHLB advances	553		553		7,036		—		—		(6,483)		(92)
Senior debt	7,766		6,512		5,258		1,254		19		2,508		48
Subordinated debt and other debt	1,824		1,827		1,815		(3)		—		9		—
Auto collateralized borrowings	3,801		4,190		3,245		(389)		(9)		556		17
Total borrowed funds	$	13,959	$	13,084	$	17,586	$	875	7	%	$	(3,627)	(21)	%
Average borrowed funds
Short-term borrowed funds	$	150	$	325	$	506	$	(175)	(54) %		$	(356)	(70)	%
Long-term borrowed funds
FHLB advances	477		2,375		4,023		(1,898)		(80)		(3,546)		(88)
Senior debt	7,462		6,684		5,259		778		12		2,203		42
Subordinated debt and other debt	1,758		1,826		1,814		(68)		(4)		(56)		(3)
Auto collateralized borrowings	3,993		4,207		2,106		(214)		(5)		1,887		90
Total average borrowed funds	$	13,840	$	15,417	$	13,708	$	(1,577)	(10)	%	$	132	1	%


Third quarter 2024			vs.			second quarter 2024

Period-end borrowed funds increased by $875 million. Senior debt increased by $1.3 billion, reflecting new issuance. This was partly offset by a $389 million decrease in collateralized borrowings on auto loans given run off of the associated portfolio.

Average borrowed funds decreased $1.6 billion, largely driven by a $1.9 billion decrease in FHLB advances. Senior debt increased by $778 million, reflecting new issuance, and collateralized borrowings on auto loans decreased by $214 million.


Third quarter 2024			vs.			third quarter 2023

Period-end borrowed funds decreased by $3.6 billion, primarily due to a decrease in FHLB advances of $6.5 billion, partly offset by the $2.5 billion increase in senior debt issuances and $556 million increase in auto collateralized borrowings.

Average borrowed funds increased by $132 million, reflecting a $3.5 billion decrease in FHLB advances driven by the run off of the Non-Core portfolio and re-mixing of funding to auto collateralized borrowings, up $1.9 billion, and senior debt issuances, up $2.2 billion.

Citizens Financial Group, Inc.


Capital										3Q24 change from
($s and shares in millions, except per share data)	3Q24			2Q24			3Q23			2Q24				3Q23
Period-end capital										$		%		$		%
Stockholders' equity	$	24,932		$	23,869		$	22,878		$	1,063	4	%	$	2,054	9	%
Stockholders' common equity	22,819			21,757			20,864			1,062		5		1,955		9
Tangible common equity	14,930			13,866			12,930			1,064		8		2,000		15
Tangible book value per common share	$	33.54		$	30.61		$	27.73		$	2.93	10	%	$	5.81	21	%
Common shares - at end of period	445.2			453.0			466.2			(7.7)		(2)		(21.0)		(5)
Common shares - average (diluted)	449.9			456.6			471.2			(6.6)		(1)	%	(21.3)		(5)	%
Common equity tier 1 capital ratio(1)	10.6		%	10.7		%	10.4		%
Total capital ratio(1)	13.9			14.0			13.4
Tangible common equity ratio	7.0			6.5			5.9
Tier 1 leverage ratio(1)	9.4			9.4			9.4
(1) Current reporting-period regulatory capital ratios are preliminary.


Third quarter 2024

•The CET1 capital ratio of 10.6% as of September 30, 2024 compares with 10.7% at June 30, 2024 and 10.4% at September 30, 2023.

•Total capital ratio of 13.9% compares with 14.0% at June 30, 2024 and 13.4% as of September 30, 2023.

•Tangible common equity ratio of 7.0% compares with 6.5% at June 30, 2024 and 5.9% as of September 30, 2023.

•Tangible book value per common share of $33.54 increased 10% compared with second quarter 2024 reflecting the AOCI benefit from lower unrealized losses associated with the impact of lower rates.

•Paid $191 million in common dividends to shareholders during third quarter 2024. This compares with $193 million in common dividends during second quarter 2024 and $200 million during third quarter 2023.

•Repurchased $325 million of common shares during third quarter 2024, compared with $200 million in second quarter 2024 and $250 million in third quarter 2023.

Citizens Financial Group, Inc.


Credit quality review										3Q24 change from
($s in millions)	3Q24			2Q24			3Q23			2Q24					3Q23
										$/bps			%		$/bps			%
Nonaccrual loans and leases(1)	$	1,687		$	1,527		$	1,296		$	160		10	%	$	391		30	%
90+ days past due and accruing(2)	169			228			248			(59)			(26)		(79)			(32)
Net charge-offs	192			184			153			8			4		39			25
Provision for credit losses	172			182			172			(10)			(5)		—			—

Allowance for credit losses	$	2,286		$	2,306		$	2,318		$	(20)		(1)	%	$	(32)		(1)	%
Nonaccrual loans and leases to loans and leases	1.19		%	1.08		%	0.87		%	11		bps			32
Net charge-offs as a % of total loans and leases	0.54			0.52			0.40			2					14

Allowance for credit losses to loans and leases	1.61			1.63			1.55			(2)					6

Allowance for credit losses to nonaccrual loans and leases	136		%	151		%	179		%	(15)		bps			(43)		bps
(1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.
(2) 90+ days past due and accruing includes $145 million, $168 million, and $216 million of loans fully or partially guaranteed by the FHA, VA, and USDA for September 30, 2024, June 30, 2024, and September 30, 2023, respectively.


Third quarter 2024			vs.			second quarter 2024

•The nonaccrual loans to total loans ratio of 1.19% compares with 1.08% at June 30, 2024. Nonaccrual loans of $1.7 billion increased $160 million, or 10%, primarily reflecting a $132 million increase in Commercial, given an increase in General Office as we proceed with workout actions.

•Net charge-offs of $192 million, or 54 basis points of average loans and leases, increased 2 basis points compared with the prior quarter. The increase primarily reflects seasonality in Auto. A sequential decline in commercial real estate charge-offs was offset by the resolution of several nonperforming credits in C&I.

•The third quarter 2024 provision for credit losses of $172 million compares with $182 million for second quarter 2024. The ratio of allowance for credit losses to total loans of 1.61% decreased from 1.63% as of June 30, 2024, primarily reflecting an improved macroeconomic outlook and loan mix given Non-Core run off and high quality originations.

•The allowance for credit losses to nonaccrual loans and leases ratio of 136% compares with 151% as of June 30, 2024.


Third quarter 2024			vs.			third quarter 2023

•The nonaccrual loans to total loans ratio of 1.19% increased from 0.87% at September 30, 2023.

•Nonaccrual loans increased $391 million, or 30%, primarily reflecting an increase in the General Office segment of commercial real estate.

•Net charge-offs of $192 million, or 54 basis points of average loans and leases, increased $39 million, primarily reflecting a $28 million increase in commercial.

•Provision for credit losses of $172 million compares with a $172 million provision in third quarter 2023.

•Allowance for credit losses of $2.3 billion decreased $32 million compared with September 30, 2023. Allowance for credit losses ratio of 1.61% as of September 30, 2024, compares with 1.55% as of September 30, 2023.

•The allowance for credit losses to nonaccrual loans and leases ratio of 136% compares with 179% as of September 30, 2023.

市民金融集團，股份有限公司。

相應的財務表格和資訊

投資者應該閱讀上述對Citizens收入和財務狀況的摘要和討論，並結合公司網站投資者關係部分提供的詳細財務表格和其他信息，位於www.citizensbank.com/about-us。

媒體： Peter Lucht - (781) 655-2289

投資者： Kristin Silberberg - (203) 900-6854

看漲會議通話

CFG管理層將在今天舉行一場現場電話會議，詳細資訊如下：

時間：上午9:00 美東時間

撥入電話: (877) 336-4440, 會議ID 4816160

網上直播/簡報：現場直播將於http://investor.citizensbank.com的活動與簡報頁面提供。

重播資訊：2024年10月16日下午1:00起至2024年11月16日止將提供會議看漲的重播。請撥打(866) 207-1041並輸入存取代碼2124050。網路網播重播將在http://investor.citizensbank.com的「活動與演示」內提供。

關於Citizens Financial Group，Inc。.

Citizens Financial Group, Inc.是全國最古老和最大的金融機構之一，截至2024年9月30日擁有2197億美元資產。總部設在羅得島普羅維登斯，Citizens為個人、小型企業、中型企業、大公司和機構提供廣泛的零售和商業銀行產品和服務。Citizens通過傾聽顧客並了解他們的需求，以提供量身定制的建議、想法和解決方案，幫助客戶發揮潛力。在消費者銀行業務中，Citizens提供集成的體驗，包括手機和網上銀行、全方位客戶聯繫中心以及擁有約3100台ATM和超過1000家分行分佈在14個州和哥倫比亞特區的便利服務。消費者銀行產品和服務包括全面的銀行、貸款、儲蓄、財富管理和小型企業服務。在商業銀行業務中，Citizens提供廣泛的金融產品和解決方案，包括貸款和租賃、存款和資金管理服務、匯率期貨、利率和商品風險管理解決方案，以及貸款聯絡、企業融資、併購、債權和股本市場能力。更多資訊請參閱www.citizensbank.com或在X（前Twitter）、LinkedIn或Facebook上訪問我們。

市民金融集團，股份有限公司。

Non-GAAP Financial Measures and Reconciliations

Non-GAAP Financial Measures:

This document contains non-GAAP financial measures denoted as Underlying. Underlying results for any given reporting period exclude certain items that may occur in that period which Management does not consider indicative of the Company’s on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our Management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe our Underlying results in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. We further believe the presentation of Underlying results increases comparability of period-to-period results. See the following pages for reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

Other companies may use similarly titled non-GAAP financial measures that may be calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar measures used by such companies. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations

(in millions, except share, per-share and ratio data)


		QUARTERLY TRENDS
					3Q24 Change
		3Q24	2Q24	3Q23	2Q24			3Q23
					$	%		$	%
Noninterest income, Underlying:
Noninterest income (GAAP)		$532	$553	$492	($21)	(4	%)	$40	8	%
Less: Notable items		(2)	4	—	(6)	(150)		(2)	(100)
Noninterest income, Underlying (non-GAAP)		$534	$549	$492	($15)	(3	%)	$42	9	%
Total revenue, Underlying:
Total revenue (GAAP)	A	$1,901	$1,963	$2,014	($62)	(3	%)	($113)	(6	%)
Less: Notable items		(2)	4	—	(6)	(150)		(2)	(100)
Total revenue, Underlying (non-GAAP)	B	$1,903	$1,959	$2,014	($56)	(3	%)	($111)	(6	%)
Noninterest expense, Underlying:
Noninterest expense (GAAP)	C	$1,259	$1,301	$1,293	($42)	(3	%)	($34)	(3	%)
Less: Notable items		11	36	22	(25)	(69)		(11)	(50)
Noninterest expense, Underlying (non-GAAP)	D	$1,248	$1,265	$1,271	($17)	(1	%)	($23)	(2	%)
Pre-provision profit:
Total revenue (GAAP)	A	$1,901	$1,963	$2,014	($62)	(3	%)	($113)	(6	%)
Less: Noninterest expense (GAAP)	C	1,259	1,301	1,293	(42)	(3)		(34)	(3)
Pre-provision profit (non-GAAP)		$642	$662	$721	($20)	(3	%)	($79)	(11	%)
Pre-provision profit, Underlying:
Total revenue, Underlying (non-GAAP)	B	$1,903	$1,959	$2,014	($56)	(3	%)	($111)	(6	%)
Less: Noninterest expense, Underlying (non-GAAP)	D	1,248	1,265	1,271	(17)	(1)		(23)	(2)
Pre-provision profit, Underlying (non-GAAP)		$655	$694	$743	($39)	(6	%)	($88)	(12	%)








Income before income tax expense, Underlying:
Income before income tax expense (GAAP)	E	$470	$480	$549	($10)	(2	%)	($79)	(14	%)
Less: Income (expense) before income tax expense (benefit) related to notable items		(13)	(32)	(22)	19	59		9	41
Income before income tax expense, Underlying (non-GAAP)	F	$483	$512	$571	($29)	(6	%)	($88)	(15	%)
Income tax expense, Underlying:
Income tax expense (GAAP)	G	$88	$88	$119	$—	—	%	($31)	(26	%)
Less: Income tax expense (benefit) related to notable items		(3)	(16)	(4)	13	81		1	25
Income tax expense, Underlying (non-GAAP)	H	$91	$104	$123	($13)	(13	%)	($32)	(26	%)
Net income, Underlying:
Net income (GAAP)	I	$382	$392	$430	($10)	(3	%)	($48)	(11	%)
Add: Notable items, net of income tax benefit		10	16	18	(6)	(38)		(8)	(44)
Net income, Underlying (non-GAAP)	J	$392	$408	$448	($16)	(4	%)	($56)	(13	%)
Net income available to common stockholders, Underlying:
Net income available to common stockholders (GAAP)	K	$344	$357	$400	($13)	(4	%)	($56)	(14	%)
Add: Notable items, net of income tax benefit		10	16	18	(6)	(38)		(8)	(44)
Net income available to common stockholders, Underlying (non-GAAP)	L	$354	$373	$418	($19)	(5	%)	($64)	(15	%)

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations (continued)

(in millions, except share, per-share and ratio data)


		QUARTERLY TRENDS
								3Q24 Change
		3Q24		2Q24		3Q23		2Q24				3Q23
								$/bps		%		$/bps		%
Operating leverage:
Total revenue (GAAP)	A	$1,901		$1,963		$2,014		($62)		(3.23	%)	($113)		(5.67	%)
Less: Noninterest expense (GAAP)	C	1,259		1,301		1,293		(42)		(3.28)		(34)		(2.69)
Operating leverage										0.05	%			(2.98	%)
Operating leverage, Underlying:
Total revenue, Underlying (non-GAAP)	B	$1,903		$1,959		$2,014		($56)		(2.88	%)	($111)		(5.54	%)
Less: Noninterest expense, Underlying (non-GAAP)	D	1,248		1,265		1,271		(17)		(1.35)		(23)		(1.75)
Operating leverage, Underlying (non-GAAP)										(1.53	%)			(3.79	%)
Efficiency ratio and efficiency ratio, Underlying:
Efficiency ratio	C/A	66.23	%	66.27	%	64.21	%	(4)	bps			202	bps
Efficiency ratio, Underlying (non-GAAP)	D/B	65.61		64.59		63.08		102	bps			253	bps
Effective income tax rate and effective income tax rate, Underlying:
Effective income tax rate	G/E	18.56	%	18.49	%	21.51	%	7	bps			(295)	bps
Effective income tax rate, Underlying (non-GAAP)	H/F	18.75		20.33		21.69		(158)	bps			(294)	bps




Return on average tangible common equity and return on average tangible common equity, Underlying:
Average common equity (GAAP)	M	$22,380		$21,427		$21,177		$953		4	%	$1,203		6	%
Less: Average goodwill (GAAP)		8,187		8,188		8,188		(1)		—		(1)		—
Less: Average other intangibles (GAAP)		140		144		173		(4)		(3)		(33)		(19)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)		435		432		422		3		1		13		3
Average tangible common equity	N	$14,488		$13,527		$13,238		$961		7	%	$1,250		9	%
Return on average tangible common equity	K/N	9.45	%	10.61	%	12.00	%	(116)	bps			(255)	bps
Return on average tangible common equity, Underlying (non-GAAP)	L/N	9.71		11.09		12.51		(138)	bps			(280)	bps




Return on average total tangible assets and return on average total tangible assets, Underlying:
Average total assets (GAAP)	O	$218,578		$219,222		$220,162		($644)		—	%	($1,584)		(1	%)
Less: Average goodwill (GAAP)		8,187		8,188		8,188		(1)		—		(1)		—
Less: Average other intangibles (GAAP)		140		144		173		(4)		(3)		(33)		(19)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)		435		432		422		3		1		13		3
Average tangible assets	P	$210,686		$211,322		$212,223		($636)		—	%	($1,537)		(1	%)
Return on average total tangible assets	I/P	0.72	%	0.75	%	0.81	%	(3)	bps			(9)	bps
Return on average total tangible assets, Underlying (non-GAAP)	J/P	0.74		0.78		0.84		(4)	bps			(10)	bps

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations (continued)

(in millions, except share, per-share and ratio data)


		QUARTERLY TRENDS
					3Q24 Change
		3Q24	2Q24	3Q23	2Q24			3Q23
					$/bps	%		$/bps	%
Tangible book value per common share:
Common shares - at period-end (GAAP)	Q	445,216,549	452,961,853	466,221,795	(7,745,304)	(2	%)	(21,005,246)	(5	%)
Common stockholders' equity (GAAP)		$22,819	$21,757	$20,864	$1,062	5		$1,955	9
Less: Goodwill (GAAP)		8,187	8,187	8,188	—	—		(1)	—
Less: Other intangible assets (GAAP)		137	139	167	(2)	(1)		(30)	(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)		435	435	421	—	—		14	3
Tangible common equity	R	$14,930	$13,866	$12,930	$1,064	8	%	$2,000	15	%
Tangible book value per common share	R/Q	$33.54	$30.61	$27.73	$2.93	10	%	$5.81	21	%
Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying:
Average common shares outstanding - basic (GAAP)	S	446,561,996	454,142,489	469,481,085	(7,580,493)	(2	%)	(22,919,089)	(5	%)
Average common shares outstanding - diluted (GAAP)	T	449,913,467	456,561,022	471,183,719	(6,647,555)	(1)		(21,270,252)	(5)
Net income per average common share - basic (GAAP)	K/S	$0.77	$0.79	$0.85	($0.02)	(3)		($0.08)	(9)
Net income per average common share - diluted (GAAP)	K/T	0.77	0.78	0.85	(0.01)	(1)		(0.08)	(9)
Net income per average common share - basic, Underlying (non-GAAP)	L/S	0.79	0.82	0.89	(0.03)	(4)		(0.10)	(11)
Net income per average common share - diluted, Underlying (non-GAAP)	L/T	0.79	0.82	0.89	(0.03)	(4)		(0.10)	(11)

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations (continued)

(in millions, except share, per-share and ratio data)


	QUARTERLY TRENDS
				3Q24 Change
	3Q24	2Q24	3Q23	2Q24			3Q23
				$/bps	%		$/bps	%




Card fees, Underlying:
Card fees (GAAP)	$93	$92	$74	$1	1		$19	26%
Less: Notable items	6	4	—	2	50		6	100
Card fees, Underlying (non-GAAP)	$87	$88	$74	($1)	(1)		$13	18	%
Other income, Underlying:
Other income (GAAP)	$24	$10	$18	$14	140		$6	33%
Less: Notable items	(8)	—	—	(8)	(100)		(8)	(100)
Other income, Underlying (non-GAAP)	$32	$10	$18	$22	220		$14	78	%
Salaries and employee benefits, Underlying:
Salaries and employee benefits (GAAP)	$647	$645	$659	$2	—	%	($12)	(2	%)
Less: Notable items	4	8	5	(4)	(50)		(1)	(20)
Salaries and employee benefits, Underlying (non-GAAP)	$643	$637	$654	$6	1	%	($11)	(2	%)
Equipment and software, Underlying:
Equipment and software (GAAP)	$194	$190	$191	$4	2	%	$3	2	%
Less: Notable items	2	4	6	(2)	(50)		(4)	(67)
Equipment and software, Underlying (non-GAAP)	$192	$186	$185	$6	3	%	$7	4	%
Outside services, Underlying:
Outside services (GAAP)	$146	$165	$160	($19)	(12	%)	($14)	(9	%)
Less: Notable items	2	10	7	(8)	(80)		(5)	(71)
Outside services, Underlying (non-GAAP)	$144	$155	$153	($11)	(7	%)	($9)	(6	%)
Occupancy, Underlying:
Occupancy (GAAP)	$108	$113	$107	($5)	(4	%)	$1	1	%
Less: Notable items	1	6	2	(5)	(83)		(1)	(50)
Occupancy, Underlying (non-GAAP)	$107	$107	$105	$—	—	%	$2	2	%
Other operating expense, Underlying:
Other operating expense (GAAP)	$164	$188	$176	($24)	(13	%)	($12)	(7	%)
Less: Notable items	2	8	2	(6)	(75)		—	—
Other operating expense, Underlying (non-GAAP)	$162	$180	$174	($18)	(10	%)	($12)	(7	%)

Citizens Financial Group, Inc.

Forward-Looking Statements

This document 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,” “guidance” or similar expressions or future 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. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:

•Negative economic, business and political conditions, including as a result of the interest rate environment, supply chain disruptions, inflationary pressures and labor shortages, that adversely affect the general economy, housing prices, the job market, consumer confidence and spending habits;

•The general state of the economy and employment, as well as general business and economic conditions, and changes in the competitive environment;

•Our capital and liquidity requirements under regulatory standards and our ability to generate capital and liquidity on favorable terms;

•The effect of changes in our credit ratings on our cost of funding, access to capital markets, ability to market our securities, and overall liquidity position;

•The effect of changes in the level of commercial and consumer deposits on our funding costs and net interest margin;

•Our ability to execute on our strategic business initiatives and achieve our financial performance goals across our Consumer and Commercial businesses, including our Private Bank;

•The effects of geopolitical instability, including the wars in Ukraine and the Middle East, on economic and market conditions, inflationary pressures and the interest rate environment, commodity price and foreign exchange rate volatility, and heightened cybersecurity risks;

•Our ability to comply with heightened supervisory requirements and expectations as well as new or amended regulations;

•Liabilities and business restrictions resulting from litigation and regulatory investigations;

•The effect of changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgages held for sale;

•Changes in interest rates and market liquidity, as well as the magnitude of such changes, which may reduce interest margins, impact funding sources and affect the ability to originate and distribute financial products in the primary and secondary markets;

•Financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses;

•Environmental risks, such as physical or transition risks associated with climate change, and social and governance risks, that could adversely affect our reputation, operations, business, and customers;

•A failure in or breach of our compliance with laws, as well as operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; and

•Management’s ability to identify and manage these and other risks.

In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares from or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends.

More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 as filed with the Securities and Exchange Commission.

Note: Per share amounts and ratios presented in this document are calculated using whole dollars.

Citizens Financial Group, Inc.

CFG-IR