Citizens Financial
Citizens Financial
Citizens Financial Group is a retail bank holding company operating primarily in the New England, Mid-Atlantic, and Midwest regions of the United States. The bank operates through two segments: consumer and commercial banking.
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After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.
January 17 -
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Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.
December 7 -
The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.
July 20 -
Fears of widespread credit losses have largely subsided, but demand for new commercial real estate loans remains lackluster because many companies are sitting on so much cash they don’t need to borrow. Meanwhile, competition from private equity groups and other nonbank lenders is escalating.
June 14 -
Managing a major lender in the midst of COVID fears and social unrest has required a rethink of banking norms. Exploring the executive decisions all leaders must consider is the recipient of American Banker’s Banker of the Year award.
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Weighing in on interest rate and other uncertainties facing all banks, Citizens Financial CEO Bruce Van Saun emphasized investments in point of sale, digital banking and other initiatives meant to enhance revenue down the road.
July 21 -
It’s the one consumer loan category where balances continue to fall, and disruption from nimbler fintechs is a big reason why. To win back market share, banks will need to beat the upstarts at their own game.
June 7 -
Commercial real estate is their bread and butter, but many banks are scaling back in this vital loan category. Here’s why.
June 29 -
The Providence, R.I., company reported a double-digit increase in quarterly profits despite a year-over-year decline in fee-based revenue.
April 20