Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 183

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 183
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generally loans and investment securities) and the interest expense incurred in connection with interest-bearing liabilities (generally deposits and borrowed funds). The level of net interest income is primarily a function of the difference between the effective yield on our average interest-earning assets and the effective cost of our interest-bearing liabilities. Factors that influence our net interest income include, but are not limited to, the pricing and mix of interest-earning assets and interest-bearing liabilities which, in turn, are impacted by external factors such as economic conditions, competition for loans and deposits, the monetary policy of the FRB and market interest rates. For further discussion, refer to the “Market Risk” and “Risk Governance” sections of our 2024 Form 10-K.

Citizens Financial Group, Inc. | 9

The following tables present the major components of our net interest income. Average balance represents amortized cost, excluding the unamortized basis adjustments related to the transfer of certain HTM securities from AFS. The yield/rate is based on annualized interest income or expense for the periods presented and includes the impact of hedging activities associated with the respective asset and liability categories. 

Table 1: Major Components of Net Interest IncomeThree Months Ended June 30,20252024Change(dollars in millions)AverageBalanceIncome/ExpenseYield/RateAverageBalanceIncome/ExpenseYield/RateAverageBalanceYield/Rate (bps)AssetsInterest-bearing cash and due from banks and deposits in banks$8,217 $92 4.40 %$9,650 $130 5.35 %($1,433)(95) bpsTaxable investment securities46,537 428 3.69 44,691 417 3.73 1,846 (4)Non-taxable investment securities1 — 2.60 1 — 2.60 — — Total investment securities46,538 428 3.69 44,692 417 3.73 1,846 (4)Commercial and industrial44,936 549 4.84 44,381 604 5.38 555 (54)Commercial real estate26,487 384 5.73 28,574 456 6.32 (2,087)(59)Total commercial71,423 933 5.17 72,955 1,060 5.75 (1,532)(58)Res