Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 254

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 254
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 items among the business segments is a dynamic process. Accordingly, financial results may be revised periodically as management systems are enhanced, methods of evaluating performance or product lines are updated, or organizational structure changes occur.For more information on the Company’s business segments, as well as Other non-segment operations, see Note 26 in the Company’s 2024 Form 10-K.

Citizens Financial Group, Inc. | 69

Three Months Ended March 31, 2025(dollars in millions)Consumer BankingCommercial BankingNon-CoreOtherConsolidatedNet interest income$1,193 $441 ($15)($228)$1,391 Noninterest income297 215 — 32 544 Total revenue1,490 656 (15)(196)1,935 Direct expenses(1)(2)669 218 — 427 1,314 Indirect expenses(3)285 109 16 (410)— Noninterest expense954 327 16 17 1,314 Profit (loss) before provision (benefit) for credit losses536 329 (31)(213)621 Provision (benefit) for credit losses86 77 37 (47)153 Income (loss) before income tax expense (benefit)450 252 (68)(166)468 Income tax expense (benefit)114 56 (17)(58)95 Net income (loss)$336 $196 ($51)($108)$373 Total average assets$77,534 $65,366 $6,536 $66,873 $216,309 (1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.(2) Includes depreciation and amortization of $31 million, $5 million and $75 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments.(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.Three Months Ended March 31, 2024(dollars in millions)Consumer BankingCommercial BankingNon-CoreOtherConsolidatedNet interest income$1,093 $514 ($37)($128)$1,442 Noninterest income258 227 — 32 517 Total revenue 1,351 741 (37)(96)1,959 Direct