| Market Capitalization (Millions $) |
18,272 |
| Shares
Outstanding (Millions) |
442 |
| Employees |
17,570 |
| Revenues (TTM) (Millions $) |
7,116 |
| Net Income (TTM) (Millions $) |
1,408 |
| Cash Flow (TTM) (Millions $) |
-58 |
| Capital Exp. (TTM) (Millions $) |
126 |
Citizens Financial Group Inc
Citizens Financial Group Inc. Overview
Headquarters and Size:
Citizens Financial Group, Inc. based in Providence, Rhode Island, is one of the largest retail bank holding companies in the United States, ranking as the 13th largest. The organization is dedicated to meeting the financial needs of its diverse customer base, employing approximately 17,700 individuals.
Branch and Service Footprint:
Citizens operates around 1,200 branches spread across an 11-state footprint that primarily encompasses the New England, Mid-Atlantic, and Midwest regions. Its branch network serves approximately 30 million households and1 million businesses. The bank also has over 100 retail and commercial non-branch offices, located both within and adjacent to its main operational regions, facilitating broad access to its services.
Customer Base:
Citizens Financial Group serves over five million customers, which include individuals, institutions, and companies. Notably, around 70% of the bank's loans are extended to clients within its geographic footprint and the eight contiguous states where it maintains operations.
Subsidiaries:
The primary subsidiaries of Citizens Financial include:
- CBNA (Citizens Bank, National Association): A national banking association primarily regulated by the Office of the Comptroller of the Currency (OCC).
- CBPA (Citizens Bank of Pennsylvania): A Pennsylvania-chartered savings bank that is regulated by the Department of Banking of the Commonwealth of Pennsylvania and primarily supervised by the FDIC.
Banking Segments and Offerings
Citizens Financial Group provides a comprehensive array of banking services through two principal operating segments:
1. Consumer Banking: This segment focuses on individual clients, offering personal loans, mortgages, checking and savings accounts, credit cards, and investment services.
2. Commercial Banking: This segment addresses the banking needs of business clients, providing services such as lending, treasury management, and investment banking.
The bank emphasizes local delivery of its products and services, ensuring that customers have personalized banking experiences tailored to meet their unique needs.
Strategic Objectives
Citizens Financial Group aims to position itself as a top-performing bank delivering optimal banking experiences to all stakeholders. Key goals include:
- Financial Targets: The bank seeks to achieve a return on tangible common equity (ROTCE) ratio of greater than 10% along with an efficiency ratio in the 60% range.
- Customer-Centric Approach: By understanding customer needs, Citizens aims to become the preferred banking partner for its clients. Efforts focus on fostering strong customer relationships and utilizing high-quality balance sheets for sustainable growth.
Risk Management and Development Strategies
Citizens Financial Group recognizes the inherent risks in reaching its financial targets, particularly regarding market conditions and client behaviors. The bank urges stakeholders to understand the uncertainties involved and does not advocate placing undue reliance on financial forecasts.
Strategic Principles
To fulfill its objectives, Citizens adheres to strategic principles that include:
- Offering a differentiated customer experience through high-quality personnel and services.
- Building a trustworthy brand that promotes simplicity, clarity, and personal connection for consumer customers, along with thought leadership for commercial clients.
- Ensuring risk-adjusted returns through prudent capital and resource allocation.
- Maintaining a robust balance sheet with a clear risk appetite to ensure financial stability and liquidity.
- Promoting a balanced business mix between commercial and consumer banking services.
- Acting as a community leader, positively impacting the local communities and economies it serves.
Strategic Priorities and Initiatives
Citizens Financial Group has identified several strategic priorities supported by specific initiatives aimed at driving growth and profitability. Progress in these areas has been bolstered by the banks effective business model, strong management team, and a culture emphasizing accountability and risk management.
Conclusion
Citizens Financial Group Inc. stands out as a robust financial institution that continues to expand its offerings and enhance customer satisfaction while maintaining a commitment to community engagement and financial stewardship. Its focused strategy and dedication to maintaining a high-performance standard reflect its role as a key player in the U.S. banking landscape.
Company Address: One Citizens Plaza Providence 2903 RI
Company Phone Number: 900-6715 Stock Exchange / Ticker: NYSE CFG
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