Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 195

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 195
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 0.48 %$184 $143,067 0.52 %

Six Months Ended June 30,20252024(dollars in millions)Net Charge-OffsAverage BalanceRatioNet Charge-OffsAverage BalanceRatioCommercial and industrial$69 $44,271 0.31 %$7 $44,479 0.03 %Commercial real estate104 26,749 0.79 174 28,920 1.21 Total commercial173 71,020 0.49 181 73,399 0.50 Residential mortgages— 33,147 — 1 31,508 — Home equity(2)16,988 (0.03)(5)15,212 (0.06)Automobile11 4,047 0.56 18 7,282 0.52 Education69 9,670 1.44 53 11,632 0.92 Other retail116 4,385 5.35 117 4,912 4.77 Total retail194 68,237 0.57 184 70,546 0.52 Total loans and leases$367 $139,257 0.53 %$365 $143,945 0.51 %

For the three and six months ended June 30, 2025, net charge-offs decreased $17 million and increased $2 million, respectively, compared to the same periods in 2024. The net charge-off ratio decreased 4 basis points  and increased 2 basis points, respectively, compared to the same periods in 2024. The six months ended June 30, 2025 period includes a $25 million charge-off resulting from the sale of Non-Core education loans. See “Executive Summary” for more information regarding the sale of education loans.

Citizens Financial Group, Inc. | 16

Commercial Loan Asset Quality

Our commercial portfolio consists of traditional commercial and industrial loans, commercial leases, and commercial real estate loans. As discussed in our 2024 Form 10-K, we utilize internal risk ratings to monitor credit quality for commercial loans and leases.

Total commercial criticized balances of $7.5 billion at June 30, 2025 increased $403 million compared to December 31, 2024. 

Commercial and industrial criticized balances of $2.5 billion at June