Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 109

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 109
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19)Other retail4,337 4,650 (313)(7)Total retail67,127 69,427 (2,300)(3)Total loans and leases$137,635 $139,203 ($1,568)(1)%

The decrease in total loans and leases as of March 31, 2025 compared to December 31, 2024 reflects a $2.3 billion decrease in retail driven by an agreement entered into during the first quarter to sell $1.9 billion of Non-Core education loans. The decrease in retail is also attributable to Non-Core portfolio runoff, partially offset by growth in home equity and mortgage, including the Private Bank. Commercial reflects a $732 million increase driven by higher line of credit utilization, partially offset by CRE paydowns.

Credit Quality

The ACL is maintained at a level the Company believes to be appropriate to absorb expected lifetime credit losses over the contractual life of a loan or lease and on unfunded lending commitments, inclusive of recoveries. For additional information regarding the ACL, see “Critical Accounting Estimates — Allowance for Credit Losses” and Note 4 in this report, and “Credit Quality” and Note 6 in our 2024 Form 10-K.

Table 6: ACL and Related Coverage Ratios by PortfolioMarch 31, 2025December 31, 2024(dollars in millions)Loans and LeasesAllowanceCoverage RatioLoans and LeasesAllowanceCoverage RatioAllowance for Loan and Lease LossesCommercial and industrial$43,781 $501 1.15 %$42,551 $480 1.13 %Commercial real estate26,727 647 2.42 27,225 660 2.42 Total commercial70,508 1,148 1.63 69,776 1,140 1.63 Residential mortgages33,114 184 0.56 32,726 194 0.59 Home equity16,853 98 0.58 16,495 112 0.68 Automobile4,044 17 0.43 4,744 24 0.51 Education8,779 271 3.09 10,812 292 2.70 Other retail4,337 296 6.80 4,650 299 6.44 Total retail67,127 866 1.29