Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 188

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 188
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 June 30, 2025, respectively, compared to the same periods in 2024, as the benefit of lower funding costs, Non-Core portfolio runoff and fixed-rate asset repricing were partially offset by the impact of variable-rate asset repricing, net of swaps.

Average interest-earning assets decreased $2.1 billion and $3.6 billion for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, driven by a decline in total loans and leases and cash held in interest-bearing deposits, partially offset by an increase in investment securities and loans held for sale.

Citizens Financial Group, Inc. | 11

Average deposits were stable for the three months ended June 30, 2025 and decreased $1.5 billion for the six months ended June 30, 2025, compared to the same periods in 2024. The decline during the six-month period is driven by lower commercial deposits and a reduction in higher-cost brokered deposits, partially offset by an increase in consumer deposits driven by the Private Bank.

Average total borrowed funds decreased $2.0 billion and $1.4 billion for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, reflecting a decline in auto collateralized borrowings, given runoff of the Non-Core portfolio, and FHLB advances, partially offset by an increase in senior debt.

Noninterest Income

Table 2: Noninterest IncomeThree Months Ended June 30,Six Months Ended June 30,(dollars in millions)20252024ChangePercent20252024ChangePercentService charges and fees$111 $106 $5 5%$220 $202 $18 9%Capital markets fees105 134 (29)(22)205 252 (47)(19)Card fees90 92 (2)(2)173 178 (5)(3)Wealth fees88 75 13 17 169 143 26 18 Mortgage banking fees73 54 19 35132 103 29 28Foreign exchange and derivative products41 39 2 5 80 75 5 7 Letter of credit and loan fees45 43 2 5 89 85 4 5 Securities gains, net5 — 5 100 12 5 7 140 Other income(