Citizens Financial Group, Inc. Reports Second Quarter 2021 Net Income of $648 million and EPS of $1.44
Citizens Financial Group (NYSE: CFG) reported its second quarter 2021 results, highlighting a decline in mortgage revenue, offset by record performance in Capital Markets and Wealth. The company experienced modest loan growth and anticipates acceleration in the latter half of the year due to economic improvements. The board declared a quarterly dividend of $0.39 per share, payable on August 13, 2021. Citizens continues to execute its strategic initiatives and will reveal details on a new program later this year.
- Record results in Capital Markets and Wealth.
- Modest loan growth anticipated to accelerate in the second half of 2021.
- Decline in mortgage revenue.
Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today reported second quarter 2021 financial results. The earnings press release, investor presentation, and financial supplement are available at http://investor.citizensbank.com. In addition, these materials will be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at www.sec.gov.
“We continued to demonstrate the strength and diversity of our business model in the second quarter, as a drop in Mortgage revenue was partially offset by record results in Capital Markets and Wealth,” said Chairman and CEO Bruce Van Saun. “We saw modest loan growth during the quarter, and expect that to accelerate in the second half as the economy continues to grow and excess liquidity is redeployed. We are executing well on our strategic initiatives and have commenced work on a TOP 7 program, with details to be announced later this year.”
Citizens also announced today that its board of directors declared a third quarter 2021 common stock dividend of
As previously announced, Citizens will host a live conference call to review its second quarter 2021 financial results. Interested parties may access the call and related materials through the following details:
Conference Call
Time: 9:00 am ET
Dial-in: (877) 336-4437, conference ID 2929135
Webcast/Presentation: The live webcast will be available at http://investor.citizensbank.com under Events & Presentations.
Replay Information: A replay of the conference call will be available beginning at 12:00 pm ET on July 20, 2021 through August 20, 2021. Please dial (866) 207-1041 and enter access code 1469569. The webcast replay will be available at http://investor.citizensbank.com under Events & Presentations.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “goals,” “targets,” “initiatives,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management, and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the United States Securities and Exchange Commission.
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