Welcome to our dedicated page for Citizens Financial Group news (Ticker: CFG), a resource for investors and traders seeking the latest updates and insights on Citizens Financial Group stock.
Citizens Financial Group, Inc. (CFG) is one of the oldest and largest financial services firms in the United States. Headquartered in Providence, Rhode Island, with roots dating back to 1828, Citizens offers a comprehensive range of retail and commercial banking products and services. The company serves individuals, small businesses, middle-market companies, large corporations, and institutions through its extensive network.
Consumer Banking: Citizens brings convenience and enhanced banking experiences to retail customers through award-winning mobile apps, robust online services, a 24/7 customer contact center, and the accessibility of approximately 3,200 ATMs and 1,200 branches across 11 states. The bank offers mortgage lending, auto lending, student lending, and a variety of deposit products. These services are designed to cater to every aspect of personal finance, helping customers manage their money more efficiently.
Commercial Banking: Citizens Commercial Banking provides a broad range of wholesale banking products and services to corporate, not-for-profit, and institutional clients. Key offerings include treasury services, specialty finance, foreign exchange, capital markets, and debt syndication. The bank leverages its expertise to support the complex financial needs of its clients, driving growth and stability.
Financial Health: Citizens Financial Group boasts total assets exceeding $220 billion. The company generates the majority of its revenue from its Consumer Banking segment, reflecting a strong and consistent performance in personal banking services.
Innovations and Partnerships: Citizens is committed to innovation and technological advancements to enhance customer experience and operational efficiency. The bank's focus on digital transformation includes continuous improvements to its mobile and online banking platforms. Strategic partnerships and acquisitions have further solidified its position in the competitive financial services market.
Current Projects: Citizens is actively engaged in expanding its market presence and improving service delivery. Recent initiatives involve introducing new financial products, enhancing customer service capabilities, and optimizing branch operations to better serve the community. The bank is also dedicated to corporate social responsibility, emphasizing environmental sustainability, financial education, and community development.
Stay tuned for the latest news on Citizens Financial Group, Inc. to keep abreast of significant developments and financial performance updates.
Citizens Financial Group, Inc. (NYSE: CFG) announced an increase in its prime lending rate from 5.50% to 6.25%, effective September 22, 2022. This adjustment reflects the institution's response to changing economic conditions. Citizens Bank, N.A., part of Citizens Financial Group, continues to serve a diverse clientele, encompassing individuals and businesses through a comprehensive range of banking products and services. As of June 30, 2022, the company reported total assets of $226.7 billion.
Citizens has entered into a power purchase agreement with Ørsted to support the construction of the Sunflower Wind Project, aimed at matching 100% of its power consumption with renewable energy credits. This 200-MW facility in Marion County, Kansas is expected to power approximately 96,000 homes annually. Citizens will acquire 25.8 MW from this project, which is anticipated to create at least 200 jobs during construction and generate significant property tax revenue without increasing local infrastructure demands.
Citizens Financial Group (NYSE: CFG) has entered into a definitive agreement to acquire College Raptor, Inc., a college planning platform based in Iowa City. This acquisition aims to enhance Citizens' engagement with prospective students and their families, providing personalized advice during the college search process. College Raptor, which helps students find colleges fitting their academic and financial profiles, will operate as a wholly-owned subsidiary post-acquisition. The deal is expected to close in the fourth quarter of 2022.
Citizens Financial Group has renewed its partnership with Feeding America for the fifth consecutive year, contributing over $1 million to combat hunger. This funding focuses on equitable access grants aimed at aiding BIPOC communities facing food insecurity. The initiative, part of the bank's broader effort, has already provided 16.3 million meals in 2021. Additionally, Citizens will host a virtual food drive during Hunger Action Month, matching donations up to $20,000.
Citizens Financial Group has announced a significant three-year personal gift from chairman and CEO Bruce Van Saun and his wife, Katie, to the Kenan Institute of Private Enterprise. This funding will support the addition of five Distinguished Fellows focusing on key business challenges starting in 2023. The initiative aims to enhance thought leadership around pressing issues, fostering collaboration among stakeholders. The Institute currently leads a pilot program on stakeholder capitalism and ESG investing, and the new funding will extend their research and programming efforts.
Citizens Financial Group (NYSE: CFG) announced that its Chairman and CEO, Bruce Van Saun, will speak at the Barclays Global Financial Services Conference on September 12, 2022, at 9:45 am ET. The event will be available via a live webcast on the company's investor relations website. Citizens Financial Group, headquartered in Providence, Rhode Island, has $226.7 billion in assets as of June 30, 2022, and offers a wide range of banking services across 14 states and the District of Columbia.
Citizens Financial Group, Inc. (CFG) is set to announce its third quarter 2022 earnings on October 19, 2022. The earnings release and supplementary materials will be accessible on the investor relations page. A live conference call will start at 9:00 AM ET on the same day, with dial-in details provided. A replay will be available from 12:00 PM ET on October 19 through November 19, 2022. Citizens Financial Group, with $226.7 billion in assets as of June 30, 2022, operates a comprehensive range of banking services.
Citizens Financial Group (NYSE: CFG) has declared dividends on its preferred stock, payable on October 6, 2022. Preferred shareholders of record by September 21, 2022 will receive:
- $15.9375 per share for Series C
- $15.875 per share for Series D
- $12.50 per share for Series E
- $14.125 per share for Series F
- $10.00 per share for Series G
This reinforces CFG's commitment to returning value to its shareholders.
Citizens Financial Group (CFG) announced the redemption of all its outstanding 6.50% Fixed-to-Floating Rate Subordinated Notes due October 1, 2027, effective September 29, 2022. The redemption price will be 100% of the principal plus any accrued interest up to the redemption date. This decision follows CFG's recent acquisition of Investors Bancorp. The bank, headquartered in Providence, Rhode Island, operates with assets totaling $226.7 billion as of June 30, 2022, offering a wide range of banking products and services across multiple states.
Citizens Financial Group, Inc. (NYSE: CFG) announced the pricing of $800 million in 4.575% fixed/floating rate senior notes due 2028. The net proceeds will be allocated for general corporate purposes. The offering is expected to close on August 9, 2022. These notes are part of Citizens Bank, N.A.'s $10 billion Global Bank Note Program and are not insured deposits. The offering involves risks, including potential loss of principal. Barclays, Credit Suisse, J.P. Morgan, Morgan Stanley, and Citizens Capital Markets are joint book-running managers for this issuance.
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