Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 210

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 210
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217 9,408 Deposits127,193 120,803 43,056 44,766 — — Interest-earning assets73,176 68,740 63,485 66,507 5,217 9,408 

(1)  Includes LHFS.

Consumer Banking 

Net interest income increased $106 million and $304 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024, driven by higher net interest margin and growth in average interest-earning assets.

Citizens Financial Group, Inc. | 20

Noninterest income increased $26 million and $117 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024, driven by wealth fees, mortgage banking fees, and service charges and fees, reflecting growth in assets under management, primarily from the Private Bank, higher MSR valuation, net of hedging, and higher overdraft and cash management fees.

Noninterest expense increased $63 million and $162 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024, driven primarily by salaries and benefits reflecting hiring related to the Private Bank and Private Wealth build-out, as well as an increase in medical benefit costs, and outside services given investments across the enterprise. 

Net charge-offs were stable for the three and nine months ended September 30, 2025 compared to the same periods in 2024.

Commercial Banking 

Net interest income decreased $30 million and $158 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024, driven by lower net interest margin and a decline in average interest-earning assets.

Noninterest income increased $79 million and $57 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024, driven by capital markets fees reflecting higher M&A, loan syndication, and equity underwriting fees during the three-month period, and by higher loan syndication and equity underwriting fees during the nine-month period.

Noninterest expense increased $33 million and $49 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024, driven primarily by salaries and benefits given strong Capital Markets fee performance and increased