Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 216

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 216
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 by dividend payments to the Parent Company, a $2.0 billion increase in RWA, and the full phase-in of the modified CECL transition amount. Higher commercial and industrial loans was the key driver for the increase in RWA.

At June 30, 2025, CFG’s Tier 1 leverage ratio was stable and CBNA’s Tier 1 leverage ratio increased compared to December 31, 2024, reflecting a decline in quarterly adjusted average assets and their respective changes in Tier 1 capital described above.

Citizens Financial Group, Inc. | 30

Table 21: Capital Composition Under the U.S. Basel III Capital Framework(dollars in millions)June 30, 2025December 31, 2024Total common stockholders' equity$23,121 $22,141 Exclusions:Modified CECL transitional amount— 96 Net unrealized (gains)/losses recorded in AOCI, net of tax:Debt securities2,001 2,369 Derivatives341 925 Unamortized net periodic benefit costs297 301 Deductions:Goodwill, net of deferred tax liability(7,763)(7,768)Other intangible assets, net of deferred tax liability(115)(128)Deferred tax assets that arise from tax loss and credit carryforwards(70)(36)Total CET1 capital17,812 17,900 Qualifying preferred stock 2,113 2,113 Total Tier 1 capital19,925 20,013 Qualifying subordinated debt(1)1,236 1,232 Allowance for credit losses2,209 2,259 Exclusions from Tier 2 capital:Modified AACL transitional amount— (125)Allowance on PCD assets(149)(147)Adjusted allowance for credit losses2,060 1,987     Total capital$23,221 $23,232 

(1) As of June 30, 2025 and December 31, 2024, the amount of non-qualifying subordinated debt excluded from regulatory capital was $469 million. See Note 7 for more details on our outstanding subordinated debt.

Capital Transactions

We completed the following capital transactions during the six months ended June 30, 2025:

•Repurchased $400 million of our outstanding common stock;

•Declared quarterly common stock dividends of $0.42 per share, aggregating to $371