Citizens Financial Group, Inc. - Form 8-K

Citizens Financial Group, Inc. reported its second quarter 2026 financial results on July 16, 2026. The company announced a net income of $587 million, a 35% increase year-over-year, with earnings per share (EPS) of $1.30, up 41% year-over-year and 15% quarter-over-quarter. Net interest income (NII) saw a sequential growth of 4%, and fee income grew by 8%. The company achieved positive operating leverage of 6.4% year-over-year. Loans increased by 3% on a spot basis, led by Commercial and Private Bank segments. Credit quality remained favorable, with net charge-offs at 37 basis points and a strong allowance for credit losses coverage of 1.48%. Average deposits grew by $2.3 billion, or 1%, driven by the Private Bank and low-cost retail categories. The Common Equity Tier 1 (CET1) ratio stood at a strong 10.4%. The company also announced a quarterly common stock dividend of $0.46 per share. Citizens Financial Group highlighted strong momentum in its strategic initiatives, including the Private Bank expansion and progress on its "Reimagine the Bank" program.