Citizens Finl Group Inc - CFG STOCK NEWS

Citizens Financial Group (NYSE: CFG) has reported its Q1 2025 financial results with net income of $373 million and earnings per share of $0.77. The company maintained strong financial metrics with a CET1 ratio of 10.6% and a loan-to-deposit ratio of 77.5%.

The company announced an agreement to sell its purchased student loan portfolio, which will accelerate Non-Core rundown and free up capital and liquidity. Citizens' board declared a quarterly dividend of $0.42 per share, payable on May 14, 2025.

As of March 31, 2025, Citizens reported total assets of $220.1 billion. The bank maintains approximately 3,100 ATMs and 1,000 branches across 14 states and the District of Columbia.

Citizens Financial Group (NYSE: CFG) has appointed Azra Pravdic as the new head of Enterprise Strategy, effective May 12. Pravdic, a former McKinsey & Company Partner, will join the bank's Executive Committee, reporting to both John Woods, Vice Chair and CFO, and Bruce Van Saun, Chairman and CEO.

In her new role, Pravdic will oversee a comprehensive portfolio including strategy, corporate development, customer experience, innovation, sustainability, and agile operating model. She brings significant experience from McKinsey's Financial Services practice, where she specialized in growth strategies, commercial excellence, risk and compliance, and process transformation.

Prior to joining McKinsey's New York office in 2011, where she was promoted to Partner in 2019, Pravdic began her career at J.P. Morgan Chase. She has extensive global experience, particularly in Europe, advising various financial institutions across banking, wealth management, payments, and financial infrastructure sectors.

Citizens has announced a $2.6 million investment in financial education grants and volunteer support through its Citizens Money Essentials program. The initiative aims to help students, individuals, and small business owners enhance their financial literacy.

The funding will support national partnerships with Junior Achievement (JA) and Council for Economic Education (CEE), along with 132 local nonprofits. Key programs include JA's financial education and career readiness training, CEE's Invest in Girls program addressing gender gaps in financial literacy, and Volunteer Income Tax Assistance (VITA) providing free tax help for those earning $67,000 or less.

In 2024, Citizens colleagues contributed over 6,500 hours of financial education, delivering interactive curriculum in English and Spanish across the bank's footprint.

Citizens Financial Group CEO Bruce Van Saun delivered a keynote address at The City Club of Cleveland, discussing strategies for business growth amid economic uncertainty. The speech highlighted how organizations can drive transformation through leadership, vision, culture, and innovation.

A recent Citizens survey revealed that 45% of Ohio business leaders are seeking support for growth through advisory services and strategic guidance. Van Saun emphasized the important role of regional banks in supporting developing areas, particularly in Cleveland and the Midwest.

The CEO detailed how Citizens has managed recent challenges, including high inflation and rising rates, by focusing on customer service, launching Citizens Private Bank, and embracing cyber tools and AI. The bank reported $217.5 billion in assets as of December 31, 2024, operating approximately 3,100 ATMs and 1,000 branches across 14 states and D.C.

Citizens Financial Group (NYSE: CFG) has announced it will release its first quarter 2025 earnings on April 16, 2025. The company will make the earnings report and supplemental materials available to investors through their investor relations website. Management will also host a live conference call on the same day to discuss the results.

Citizens Financial Group (CFG) has released new research showing middle market business leaders maintain cautious optimism despite economic challenges heading into 2025. The survey reveals that 83% of leaders believe their businesses are in a better financial position than last year, with 56% planning to increase hiring and 57% intending to invest more in growth compared to 2024.

Key concerns identified include inflation (59%), interest rates (44%), and tariffs (42%). Workforce challenges remain significant, with 84% of leaders prioritizing recruitment and retention. Companies are responding through increased employee training (39%), automation/AI adoption (38%), and workplace culture improvements (36%).

The research also highlights that 87% of business leaders plan to technology investments, focusing on AI and automation. Additionally, 76% view private equity as a current or future funding source, while many seek support for green initiatives and sustainable debt issuance.

Citizens Financial Group's second annual survey reveals significant gender disparities in financial confidence as the 'Great Wealth Transfer' approaches. Baby Boomers are expected to transfer $124 trillion in assets by 2048, with women projected to control $34 trillion in investable assets by 2030.

Key findings show that 84% of women lack confidence in managing inheritance money compared to 73% of men. Additionally, 45% of women feel overwhelmed managing personal wealth, and 51% have never opened an investment account. The survey of 1,500 Americans highlights that 90% of women desire financial advisor guidance, primarily for retirement planning.

The study also reveals generational shifts, with 38% of Gen Z opening investment accounts by age 21 compared to 7% of Boomers. However, 30% of Americans still lack estate planning, and 80% aren't confident in creating one. The findings emphasize the critical need for professional financial guidance to manage this historic wealth distribution effectively.

Citizens Financial Group (NYSE: CFG) has announced key executive appointments to accelerate its strategic growth agenda. Michelle Moosally has been appointed as General Counsel and Chief Legal Officer, effective May 15, bringing nearly 25 years of financial institution legal experience. Matt Boss will serve as Head of Consumer Banking from May 5, overseeing retail banking, deposits, consumer lending, mortgage, and business banking operations.

Boss will report to Brendan Coughlin, who transitions to Vice Chair-Consumer, Private Banking & Wealth. This restructuring allows Coughlin to focus on growing Citizens' Private Bank and Wealth Management businesses while overseeing Enterprise Marketing and Data & Analytics functions.

Citizens Financial Group, with $217.5 billion in assets as of December 31, 2024, operates approximately 1,000 branches and 3,100 ATMs across 14 states and D.C., offering comprehensive retail and commercial banking services.

Citizens Financial Group (NYSE: CFG) has announced its participation in the upcoming RBC Capital Markets Financial Institutions Conference. Vice Chair and CFO John Woods and Head of Capital Markets Ted Swimmer will represent the company at the event, scheduled for March 4, 2025, at 10:00 am ET.

The company, headquartered in Providence, Rhode Island, manages $217.5 billion in assets as of December 31, 2024. Citizens operates approximately 1,000 branches and 3,100 ATMs across 14 states and DC, offering comprehensive retail and commercial banking services.

Their Consumer Banking division provides integrated mobile and online banking services, while their Commercial Banking segment offers various financial products including lending, treasury management, foreign exchange, and capital markets capabilities. A live webcast of the conference presentation will be available on the company's investor relations website.