Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 202

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 202
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 assets.

Noninterest income decreased $10 million and $22 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, driven by capital markets fees reflecting lower M&A and bond underwriting fees, partially offset by higher loan syndication and equity underwriting fees.

Noninterest expense increased $6 million and $16 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, driven primarily by an increase in salaries and benefits, and outside services given investments across the enterprise.

Net charge-offs decreased $6 million and $10 million for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, driven by CRE, largely offset by an increase in commercial and industrial.

Non-Core

Net interest income increased $48 million for the six months ended June 30, 2025, compared to the same period in 2024, driven by a decline in funding costs relative to the highest-cost marginal funding sources during 2025, including secured borrowings collateralized by auto loans and FHLB advances.

Net charge-offs increased $10 million for the six months ended June 30, 2025, compared to the same period in 2024, driven by a charge-off of $25 million resulting from the sale of Non-Core education loans. See “Executive Summary” for more information regarding this sale.

Average loans and leases decreased $4.2 billion and $4.1 billion for the three and six months ended June 30, 2025, respectively, compared to the same periods in 2024, driven by expected Non-Core portfolio runoff.

RISK MANAGEMENT 

We are committed to maintaining a strong, integrated, and proactive approach to the management of all risks to which we are exposed in pursuit of our business objectives. A key aspect of our Board’s responsibility as the main decision-making body is setting our risk appetite to ensure that the level of risk that we are willing to accept in the attainment of our strategic business and financial objectives is clearly understood. 

To enable our Board to carry out its objectives, it has delegated authority for risk management activities, as well as governance and oversight of those activities, to a number of Board and executive management level risk committees. The Executive Risk Committee, chaired by the Chief Risk Officer, is responsible for oversight of risk across the enterprise and actively considers our inherent material risks, analyzes our overall