Citizens Finl Group Inc - CFG STOCK NEWS

Junior Achievement and Citizens unveil the findings of the 2023 JA Teens & Personal Finance Survey, highlighting key insights into teens' career aspirations and financial preparedness. Conducted among 1,000 teens aged 13-18, the survey reveals that 76% believe a two-year degree or certification suffices for good employment, while 57% feel equipped for future job competition. Inflation (47%) stands as the primary concern regarding post-high school education alongside rising costs and student debt. Notably, 61% prefer entrepreneurship over traditional careers, with a significant inclination towards roles like healthcare (22%) and digital influencers (18%). Citizens aims to empower youth financially, particularly in underserved communities, by enhancing financial literacy through various initiatives.

Citizens Financial Group reported a rise in its Citizens Business Conditions Index™ (CBCI) to 53.9 in Q1 2023, demonstrating resilience in the economy despite potential recession risks. The labor market remains strong, and revenue growth was noted across various sectors, particularly in Consumer Services and Healthcare.

New business applications increased, enhancing the Index, while employment trends remained stable. However, the manufacturing sector showed signs of slowing down due to higher borrowing costs. The report indicates a recovery in business conditions as inflationary pressures ease, suggesting a resilient business environment that continues to adapt to ongoing interest rate hikes.

Citizens Financial Group's Board of Directors has been awarded the title of 2023 “Top Public Company Board of the Year” by the National Association of Corporate Directors New England Chapter. The accolade recognizes the board for its exemplary governance and leadership. CEO Bruce Van Saun accepted the award at the NACDNE gala on April 25, 2023, in Boston. Van Saun emphasized the importance of diverse expertise within the board for enhancing company performance. NACDNE Chair Beth I. Z. Boland commended the board for its effective governance and successful execution of its long-term growth strategy since Citizens became independent in 2014. Citizens Financial Group, with $222.3 billion in assets as of March 31, 2023, provides a comprehensive range of banking services to various customers across 14 states and the District of Columbia.

Citizens Financial Group announced the winners of its Sixth Annual Small Business Community Champion Award, selecting 30 small businesses from nearly 9,000 applicants. Each winner will receive $10,000 to support their business initiatives and community contributions. This year's awards include ten minority-owned and ten women-owned businesses, emphasizing Citizens' commitment to local economies. Since its inception, the program has granted over $1.2 million to small enterprises. Sarah Lindstrom, Head of Business Banking, remarked on the strong community engagement displayed by participants. For further details on the winners and their initiatives, visit Citizens' official site.

Citizens Financial Group, Inc. (NYSE: CFG) reported its Q1 2023 financial results, showcasing an Underlying Net Income of $560 million and an EPS of $1.10. The bank maintained a strong capital, liquidity, and funding position, with stable deposits in March. The quarterly common stock dividend is set at $0.42 per share, payable on May 17, 2023. Despite facing unexpected challenges, CEO Bruce Van Saun expressed confidence in the bank's adaptability and resilience, projecting a mid-teens Return on Tangible Common Equity (ROTCE) for the year. Citizens will host a conference call at 9:00 am ET on the results, with replay options available post-call.