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

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 3
Chunk 13
---
 equity85 54 139 Automobile(164)9 (155)Education (50)42 (8)Other retail (32)61 29       Total retail(117)254 137       Total loans and leases(507)(34)(541)Loans held for sale(2)(22)(3)(25)Total interest income($323)$305 ($18)Interest ExpenseChecking with interest($14)$59 $45 Money market55 156 211 Savings(32)75 43 Time226 155 381 Total interest-bearing deposits235 445 680 Short-term borrowed funds(28)— (28)Long-term borrowed funds(116)54 (62)      Total borrowed funds(144)54 (90)Total interest expense91 499 590 Net interest income($414)($194)($608)

(1) Volume and rate changes are allocated on a consistent basis using the respective percentage changes in average balances and average rates.

(2) See Note 1 for information regarding updates to the Consolidated Balance Sheets during 2024.

Citizens Financial Group, Inc. | 43

Noninterest Income

Table 4: Noninterest IncomeYear Ended December 31,(dollars in millions)20242023ChangePercentService charges and fees$420 $410 $10 2 %Capital markets fees467 319 148 46 Card fees368 296 72 24 Wealth fees(1)294 259 35 14 Mortgage banking fees209 242 (33)(14)Foreign exchange and derivative products146 183 (37)(20)Letter of credit and loan fees175 168 7 4 Securities gains, net18 28 (10)(36)Other income(2)79 78 1 1 Noninterest income$2,176 $1,983 $193 10 %

(1) See Note 1 for information regarding updates to the Consolidated Statements of Operations during 2024.

(2) Includes bank-owned life insurance income and other income for all periods presented. 

The primary drivers for the change in noninterest income for the year ended December 31, 2024, compared to 2023, are described below.

•Capital markets fees increased given higher underwriting, M&A advisory and loan syndication fees.

•Card fees increased driven primarily by