Citizens Financial Group: Q4 Earnings Snapshot

Citizens Financial Group (CFG) reported its fourth quarter and full-year 2024 earnings on Friday, January 17, 2025. The company's earnings press release, investor presentation, and financial supplement are available at . CFG management hosted a live conference call to discuss the results, with details as follows:

* Time: 9:00 am (ET)
* Dial-in: Individuals may call in by dialing 800-369-1703, conference ID 1679767
* Webcast/Presentation: The live webcast will be available at under Events & Presentations.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $219.7 billion in assets as of September 30, 2024. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions. The company helps its customers reach their potential by listening to them and understanding their needs to offer tailored advice, ideas, and solutions.

Citizens Financial Group reported Q4 2024 net income of $401 million and EPS of $0.83, with underlying net income of $412 million and EPS of $0.85. The company achieved full-year 2024 net income of $1.5 billion and EPS of $3.03, with underlying EPS of $3.24. The bank maintained strong financial metrics with a CET1 ratio of 10.8% and a loan-to-deposit ratio of 79.6%. The Private Bank division reached significant milestones with $7 billion in deposits, $3.1 billion in loans, and $4.7 billion in assets under management (AUM).

The board declared a quarterly common stock dividend of $0.42 per share, payable on February 14, 2025, to shareholders of record at the close of business on January 31, 2025.

Citizens Financial Group's Q4 2024 results demonstrate resilient performance with net income of $401 million and EPS of $0.83. The bank's underlying metrics show strength, with a CET1 ratio of 10.8% and a loan-to-deposit ratio of 79.6%, indicating a robust capital position and conservative lending practices. The improved net interest margin and return to positive operating leverage signal effective management of interest rate challenges.

The Private Bank's growth trajectory is particularly noteworthy, reaching $7 billion in deposits, $3.1 billion in loans, and $4.7 billion in AUM. This diversification into wealth management services could provide a stable revenue stream less dependent on interest rate fluctuations. The maintained quarterly dividend of $0.42 per share reflects management's confidence in sustained profitability.

With total assets of $217.5 billion, Citizens maintains a strong market position. The favorable credit metrics trend suggests prudent risk management, important for maintaining stability in the current economic environment. The bank's strategic positioning across 14 states with approximately 1,000 branches and 3,100 ATMs provides a solid foundation for retail banking operations. The integrated consumer banking approach, combining digital capabilities with physical presence, aligns well with evolving customer preferences. The Commercial Banking segment's comprehensive suite of services positions Citizens competitively in high-margin business segments.

The year-over-year performance shows steady progress with full-year 2024 net income of $1.5 billion and EPS of $3.03. The underlying EPS of $3.24 suggests core business strength despite market challenges. The bank's focus on tailored solutions and relationship banking should support continued growth in both consumer and commercial segments.

Insert chart showing Citizens Financial Group's net income and EPS growth over the past four quarters
Insert image of Citizens Financial Group's headquarters in Providence, Rhode Island

In conclusion, Citizens Financial Group's Q4 2024 earnings snapshot reveals a strong performance with robust financial metrics and a growing Private Bank division. The company's strategic positioning and focus on tailored solutions and relationship banking set the stage for continued growth and success in the coming years.