Underlying net income of $443 million up 14% and EPS of $0.93 up 19%
year over year
ROTCE of 13.0%; Underlying ROTCE of 13.1%, up 1.4% year over year
5.0% Underlying positive operating leverage year over year, before the
impact of Acquisitions
Announces quarterly dividend of $0.32 per common share
PROVIDENCE, R.I.--(BUSINESS WIRE)--
Citizens Financial Group, Inc. (NYSE: CFG or "Citizens") today reported
first quarter 2019 financial results. The earnings press release,
investor presentation, and financial supplement are available at http://investor.citizensbank.com.
In addition, these materials will be furnished to the Securities and
Exchange Commission (SEC) on a Form 8-K and will be available on the SEC
website at www.sec.gov.
"We are pleased to start 2019 with a solid first quarter result as we
continue to execute well on our strategic initiatives," said Chairman
and Chief Executive Officer Bruce Van Saun. "We continue to make
significant investments to broaden our capabilities and strengthen our
franchise. During the quarter we closed on the acquisitions of wealth
management and M&A advisory firms, we began the rollout of our new cash
management platform, and we launched four more Fintech partnerships. We
continue to balance well our need to deliver improving near-term results
with the imperative of adhering to a thoughtful long-term strategy."
Citizens also announced today that its board of directors declared a
second quarter 2019 common stock dividend of $0.32 per share. The
dividend is payable on May 15, 2019 to shareholders of record at the
close of business on May 1, 2019. The quarterly dividend is now 45%
higher than the year-ago quarter.
As previously announced, Citizens will host a conference call to review
its first quarter 2019 financial results. Interested parties may access
the call and related materials through the following details:
Time: 9:00 am ET
Dial-in: (800) 230-1085, conference ID 461320
Webcast/Presentation: The live webcast will be available at http://investor.citizensbank.com
under Events & Presentations.
Replay Information: A replay of the conference call will be available
beginning at 11:00 am ET on April 18 through May 18, 2019. Please dial
(800) 475-6701 and enter access code 461320. The webcast replay will be
available at http://investor.citizensbank.com
under Events & Presentations.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation's oldest and largest
financial institutions, with $161.3 billion in assets as of March 31,
2019. 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. Citizens helps its customers reach their
potential by listening to them and by understanding their needs in order
to offer tailored advice, ideas and solutions. In Consumer Banking,
Citizens provides an integrated experience that includes mobile and
online banking, a 24/7 customer contact center and the convenience of
approximately 2,900 ATMs and approximately 1,100 branches in 11 states
in the New England, Mid-Atlantic and Midwest regions. Consumer Banking
products and services include a full range of banking, lending, savings,
wealth management and small business offerings. In Commercial Banking,
Citizens offers corporate, institutional and not-for-profit clients a
full range of wholesale banking products and services, including lending
and deposits, capital markets, treasury services, foreign exchange and
interest rate products, and asset finance. More information is available
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Source: Citizens Financial Group, Inc.