Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 245

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 6
Chunk 245
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 yield on our average interest-earning assets and the effective cost of our interest-bearing liabilities. Factors that influence our net interest income include, but are not limited to, the pricing and mix of interest-earning assets and interest-bearing liabilities which, in turn, are impacted by external factors such as economic conditions, competition for loans and deposits, the monetary policy of the FRB and market interest rates. For further discussion, refer to the “Market Risk” and “Risk Governance” sections of this report.

Citizens Financial Group, Inc. | 41

The following table presents the major components of our net interest income. Average balance represents amortized cost, excluding the unamortized basis adjustments related to the transfer of certain HTM securities from AFS, and LHFS. The yield/rate is based on annualized interest income or expense for the periods presented and includes the impact of hedging activities associated with the respective asset and liability categories.

Table 2: Major Components of Net Interest IncomeYear Ended December 31,20242023Change(dollars in millions)AverageBalanceIncome/ExpenseYield/RateAverageBalanceIncome/ExpenseYield/RateAverageBalanceYield/Rate (bps)AssetsInterest-bearing cash and due from banks and deposits in banks$9,566 $503 5.17 %$8,531 $451 5.22 %$1,035 (5) bpsTaxable investment securities44,627 1,658 3.71 39,437 1,162 2.94 5,190 77Non-taxable investment securities1 — 2.60 2 — 2.68 (1)(8)Total investment securities44,628 1,658 3.71 39,439 1,162 2.94 5,189 77Commercial and industrial44,174 2,333 5.20 49,998 3,002 5.92 (5,824)(72)Commercial real estate28,430 1,795 6.21 29,206 1,804 6.09 (776)12Total commercial72,604 4,128 5.60 79,204 4,806 5.99 (6,600)(39)Residential mortgages31,916 1,184 3.71 30,660 1,052 3.43 1,256 28