Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 702

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 4
Chunk 702
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: Consumer Banking, Commercial Banking, and Non-Core. See Note 26 for more information regarding our business operating segments.

The following table presents certain financial data of our business operating segments. Total business operating segment financial results differ from total consolidated financial results. These differences are reflected in Other non-segment operations.

Table 6: Selected Financial Data for Business Operating SegmentsConsumer BankingCommercial BankingNon-CoreYear Ended December 31,Year Ended December 31,Year Ended December 31,(dollars in millions)202420232024202320242023Net interest income$4,565 $4,187 $1,950 $2,292 ($117)($129)Noninterest income1,131 1,067 908 784 — — Total revenue5,696 5,254 2,858 3,076 (117)(129)Noninterest expense3,678 3,542 1,241 1,295 98 123 Profit (loss) before credit losses2,018 1,712 1,617 1,781 (215)(252)Net charge-offs331 280 353 250 61 78 Income (loss) before income tax expense (benefit)1,687 1,432 1,264 1,531 (276)(330)Income tax expense (benefit)434 373 291 378 (70)(86)Net income (loss)$1,253 $1,059 $973 $1,153 ($206)($244)Average Balances: Total assets$75,037 $72,693 $68,478 $76,028 $8,942 $13,745 Total loans and leases(1)68,681 66,356 65,481 72,937 8,902 13,669 Deposits121,745 116,980 44,472 47,155 — — Interest-earning assets69,272 66,999 65,982 73,321 8,902 13,675 

(1)  Includes LHFS.

Consumer Banking 

Net interest income increased $378 million compared to 2023, driven by higher net interest margin reflecting higher interest-earning asset yields and growth in average interest-earning assets. These increases were partially offset by higher funding costs.

Noninterest income increased $64 million compared to