Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 227

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 5
Chunk 227
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31, (dollars in millions, except per share data)202420232022INTEREST INCOME:Interest and fees on loans and leases$7,948 $8,489 $5,968 Interest and fees on loans held for sale(1)77 102 124 Investment securities 1,658 1,162 840 Interest-bearing deposits in banks 503 451 128 Total interest income10,186 10,204 7,060 INTEREST EXPENSE:Deposits3,825 3,145 651 Short-term borrowed funds15 43 23 Long-term borrowed funds713 775 374 Total interest expense4,553 3,963 1,048 Net interest income5,633 6,241 6,012 Provision (benefit) for credit losses687 687 474 Net interest income after provision (benefit) for credit losses4,946 5,554 5,538 NONINTEREST INCOME:Service charges and fees420 410 420 Capital markets fees467 319 368 Card fees368 296 273 Wealth fees(1)294 259 249 Mortgage banking fees209 242 261 Foreign exchange and derivative products146 183 188 Letter of credit and loan fees175 168 159 Securities gains, net18 28 9 Other income79 78 82 Total noninterest income2,176 1,983 2,009 NONINTEREST EXPENSE:Salaries and employee benefits2,657 2,599 2,549 Equipment and software769 756 648 Outside services639 687 700 Occupancy447 492 410 Other operating expense722 973 585 Total noninterest expense5,234 5,507 4,892 Income before income tax expense1,888 2,030 2,655 Income tax expense379 422 582 NET INCOME$1,509 $1,608 $2,073 Net income available to common stockholders$1,372$1,491$1,960 Weighted-average common shares outstanding:Basic450,678,038 475,089,384 475,959,815 Diluted453,510,245 476,693,148 477,803,142 Per common share information