Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 60

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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Income tax expense (benefit)102 76 (17)(73)88 Net income (loss)$296 $259 ($50)($113)$392 Total average assets $74,295 $68,958 $9,418 $66,551 $219,222 (1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.(2) Includes depreciation and amortization of $28 million, $7 million, and $78 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments.(3) Represents allocated corporate overhead from support functions such as information technology, finance, risk, and human resources.

Citizens Financial Group, Inc. | 77

Six Months Ended June 30, 2025(dollars in millions)Consumer BankingCommercial BankingNon-CoreOtherConsolidatedNet interest income$2,411 $880 ($20)($443)$2,828 Noninterest income626 447 3 68 1,144 Total revenue3,037 1,327 (17)(375)3,972 Direct expenses(1)(2)1,348 437 1 847 2,633 Indirect expenses(3)569 207 30 (806)— Noninterest expense1,917 644 31 41 2,633 Profit (loss) before provision (benefit) for credit losses1,120 683 (48)(416)1,339 Provision (benefit) for credit losses167 161 39 (50)317 Income (loss) before income tax expense (benefit)953 522 (87)(366)1,022 Income tax expense (benefit)241 120 (22)(126)213 Net income (loss)$712 $402 ($65)($240)$809 Total average assets$78,182 $65,827 $5,872 $67,108 $216,989 (1) Represents operating expenses incurred by the business segments and primarily includes salaries and employee benefits, equipment and software, outside services, and occupancy.(2) Includes depreciation and amortization of $61 million, $10 million, and $155 million, respectively, for the Consumer Banking, Commercial Banking and Other business segments.(3) Represents allocated corporate