Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 116

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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535 469 — 66 1,070 Total revenue 2,748 1,477 (68)(235)3,922 Direct expenses(1)(2)1,142 421 2 1,094 2,659 Indirect expenses(3)676 207 49 (932)— Noninterest expense1,818 628 51 162 2,659 Profit (loss) before provision (benefit) for credit losses930 849 (119)(397)1,263 Provision (benefit) for credit losses165 171 29 (12)353 Income (loss) before income tax expense (benefit)765 678 (148)(385)910 Income tax expense (benefit)197 160 (38)(135)184 Net income (loss)$568 $518 ($110)($250)$726 Total average assets $74,064 $69,529 $9,986 $66,417 $219,996 (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 $55 million, $14 million, and $155 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.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Quantitative and qualitative disclosures about market risk are presented in the “Market Risk” section of Part I, Item 2 and is incorporated herein by reference.

Citizens Financial Group, Inc. | 78

ITEM 4. CONTROLS AND PROCEDURES

The Company maintains a set of disclosure controls and procedures designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms. The design of disclosure controls and procedures is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives. In