Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 267

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 6
Chunk 267
---
4, 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 commercial and auto loans, was partially offset by dividend payments to the Parent Company and a decrease in the modified CECL transition amount as we entered the third year of the CECL three-year transition period.

At December 31, 2024, CFG’s and CBNA’s total capital ratios increased compared to December 31, 2023, driven by their respective changes in CET1 and tier 1 capital described above and a reduction in the modified AACL transition amount.

At December 31, 2024, CFG’s and CBNA’s tier 1 leverage ratios increased compared to December 31, 2023, reflecting a decline in quarterly adjusted average assets and their respective changes in tier 1 capital described above.

Citizens Financial Group, Inc. | 57

Table 23: Capital Composition Under the U.S. Basel III Capital Framework(dollars in millions)December 31, 2024December 31, 2023Total common stockholders’ equity$22,141 $22,328 Exclusions:Modified CECL transitional amount96 192 Net unrealized (gains)/losses recorded in AOCI, net of tax:Debt securities 2,369 2,338 Derivatives925 1,087 Unamortized net periodic benefit costs301 333 Deductions:Goodwill, net of deferred tax liability(7,768)(7,779)Other intangible assets, net of deferred tax liability(128)(134)Deferred tax assets that arise from tax loss and credit carryforwards(36)(7)Total common equity tier 1 capital17,900 18,358 Qualifying preferred stock 2,113 2,014 Total tier