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 (CFG) released its 2020 Corporate Responsibility Report, titled Building Tomorrow Together, showcasing initiatives for responsible citizenship. This report aligns with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) frameworks for the first time. Key highlights include goals to cut Scope 1 and 2 greenhouse gas emissions by 30% by 2025 and 50% by 2035, based on 2016 levels, supporting the Paris Agreement's climate objectives. The report emphasizes Citizens' commitment to sustainable growth and corporate responsibility.
Citizens Financial Group, Inc. (NYSE: CFG) has announced the expiration of its exchange offers for four series of subordinated notes. The offers, which expired on June 23, 2021, allow holders of unregistered notes to exchange them for registered notes under the Securities Act. The total principal amount for the exchanged notes includes $620.6 million in 2.638% subordinated notes due 2032, and $134.6 million in 4.300% fixed rate subordinated notes due 2031, among others. The settlement date for the exchange is expected to be June 25, 2021.
Citizens Financial Group (NYSE: CFG) announced the pricing of 300,000 shares of its 4.000% Series G Preferred Stock at an aggregate offering price of $300 million. Proceeds will partially redeem the Series A Preferred Stock on July 6, 2021. The offering is expected to close on June 11, 2021, pending customary conditions. BofA Securities, Barclays, J.P. Morgan, and Morgan Stanley are managing the offering. Investors are advised to read the prospectus associated with this offering for complete details.
Citizens Financial Group, Inc. (NYSE: CFG) has announced the redemption of all 250,000 shares of its 5.500% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A, with a liquidation preference of $1,000 per share. The redemption date is set for July 6, 2021, coinciding with the dividend payment date. Holders will receive the redemption price of $1,000 per share, excluding declared and unpaid dividends. After the redemption date, no shares will remain outstanding, and dividends will cease to accrue.
Citizens Financial Group (NYSE: CFG) announced that John Woods, Vice Chairman and CFO, will participate in the Morgan Stanley U.S. Financials, Payments & CRE Conference on June 15, 2021, at 9:30 am ET. A live webcast will be accessible at investor.citizensbank.com. As of March 31, 2021, Citizens Financial Group holds $187.2 billion in assets and provides a range of banking services across various regions, including integrated banking solutions and commercial banking products.
Citizens Financial Group (NYSE: CFG) has announced an agreement to acquire 80 East Coast branches and a national online deposit business from HSBC Bank U.S.A. The transaction involves approximately $9 billion in deposits and $2.2 billion in loans, with a 2% premium on deposits. This acquisition is projected to be immediately accretive to earnings and provide a 20% internal rate of return. It expands Citizens' presence in key markets, adding around 800,000 customers and enhancing long-term funding flexibility, supporting future loan growth opportunities.
Citizens Financial Group (NYSE: CFG) has initiated exchange offers for four series of its unregistered subordinated notes. The offers aim to exchange the existing Original Notes for registered Exchange Notes, under the Securities Act of 1933. The Exchange Offers will expire on June 23, 2021, and the expected settlement date is June 25, 2021. All terms of the Exchange Notes mirror those of the Original Notes, with registration rights now applicable. The Bank of New York Mellon will serve as the Exchange Agent for this process.
Citizens Financial Group (NYSE: CFG) announced that Chairman and CEO Bruce Van Saun will speak at the Bernstein 37th Annual Strategic Decisions Conference on June 3, 2021, at 2:30 pm ET. The conference will be held virtually, and interested parties can access the live webcast at Citizens Bank Investor Relations.
As of March 31, 2021, Citizens Financial has $187.2 billion in assets and offers diverse banking services including retail and commercial products across 11 states.
Citizens Financial Group (NYSE: CFG) announced the redemption of all outstanding 2.375% Senior Notes due July 28, 2021, effective June 28, 2021. The redemption price equals 100% of the principal amount plus accrued interest until the redemption date. Holders of the Notes will receive notification regarding the redemption process, with payments facilitated through The Depository Trust Company.
As of March 31, 2021, Citizens had $187.2 billion in assets and provides a range of banking services to individuals and businesses across the United States.
Citizens Financial Group (NYSE: CFG) announced that Vice Chairman and Head of Commercial Banking, Don McCree, will participate in Deutsche Bank's Global Financial Services & FinTech Conference on June 1, 2021, at 8:55 am ET. The event will be held virtually, and a live webcast can be accessed at investor.citizensbank.com. Citizens Financial Group, headquartered in Providence, Rhode Island, has assets totaling $187.2 billion as of March 31, 2021, offering a variety of banking products and services to diverse clientele.
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