Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 16

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 September 30, 2024:Three Months Ended September 30, 2024Nine Months Ended September 30, 2024(dollars in millions)CommercialRetailTotalCommercialRetailTotalAllowance for loan and lease losses, beginning of period$1,282 $843 $2,125 $1,250 $848 $2,098 Charge-offs(106)(125)(231)(308)(377)(685)Recoveries8 31 39 29 99 128 Net charge-offs(98)(94)(192)(279)(278)(557)Provision expense (benefit) for loans and leases3 143 146 216 322 538 Allowance for loan and lease losses, end of period1,187 892 2,079 1,187 892 2,079 Allowance for unfunded lending commitments, beginning of period147 34 181 175 45 220 Provision expense (benefit) for unfunded lending commitments17 9 26 (11)(2)(13)Allowance for unfunded lending commitments, end of period164 43 207 164 43 207 Total allowance for credit losses, end of period$1,351 $935 $2,286 $1,351 $935 $2,286 Credit Quality IndicatorsThe Company presents loan and lease portfolio segments and classes by credit quality indicator and vintage year and defines the vintage date for the purpose of this disclosure as the date of the most recent credit decision. Renewals are categorized as new credit decisions and reflect the renewal date as the vintage date, except for renewals of loans modified for borrowers experiencing financial difficulty, or FDMs, which are presented in the original vintage.The Company utilizes internal risk ratings to monitor credit quality for commercial loans and leases. For more information on these ratings see Note 6 in the Company’s 2024 Form 10-K.The following table presents the amortized cost basis of commercial loans and leases by vintage date and internal risk rating as of September 30, 2025:Term Loans and Leases by Origination YearRevolving Loans(dollars in millions)20252024202320222021Prior to 2021Within the Revolving PeriodConverted to TermTotalCommercial and industrialPass$5,670 $4,526 $1,631 $2,948 $1,433 $2,220 $25