Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 31

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 3
Chunk 31
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 Standardized RulesDecember 31, 2024December 31, 2023(dollars in millions)AmountRatioAmountRatioRequired Minimum Capital Ratio(1)CET1 capitalCFG$17,900 10.8 %$18,358 10.6 %9.0 %CBNA20,250 12.3 19,411 11.3 7.0 Tier 1 capitalCFG20,013 12.1 20,372 11.8 10.5 CBNA20,250 12.3 19,411 11.3 8.5 Total capitalCFG23,232 14.0 23,608 13.7 12.5 CBNA23,362 14.2 22,453 13.0 10.5 Tier 1 leverageCFG20,013 9.4 20,372 9.3 4.0 CBNA20,250 9.6 19,411 8.9 4.0 Risk-weighted assetsCFG165,699 172,601 CBNA164,986 172,094 Quarterly adjusted average assets(2)CFG212,555 219,591 CBNA211,849 218,974 

(1) Represents minimum requirement under the current capital framework plus the SCB of 4.5% and CCB of 2.5% for CFG and CBNA, respectively. The SCB and CCB are not applicable to the Tier 1 leverage ratio.

(2) Represents total average assets less certain amounts deducted from Tier 1 capital.

At December 31, 2024, CFG’s CET1 and tier 1 capital ratios increased compared to December 31, 2023. Net income and a $6.9 billion decrease in RWA was partially offset by common share repurchases, dividends, and a decrease in the modified CECL transition amount as we entered the third year of the CECL three-year transition period. Lower commercial and auto loans were the key drivers for the decline in RWA. An increase in preferred stock was also a contributing factor to the tier 1 capital ratio increase. 

At December 31, 2024, CBNA’s CET1 and tier 1 capital ratios increased compared to December 31, 2023. Net income and a $7.1 billion decrease in RWA, primarily driven by lower