$CFG (Citizens Financial Group, Inc.)

$CFG {{ '2016-07-21T18:13:32+0000' | timeago}} • Webcast

Deutsche Bank analyst Matt O'Connor asks if $CFG expects 3Q16 net interest income (NII) to rise considering it has forecast a slight decline in net interest margin (NIM) and modest loan growth. CFO Eric Aboaf says $CFG expects "solid" loan growth and a slight decline in NIM, but the loan growth will "outrun" the decline in NIM, boosting the NII.

$CFG {{ '2017-09-06T16:17:18+0000' | timeago}} • Announcement

$CFG said Citizens Bank has launched its digital investment and advisory platform, SpeciFi from Citizens Investment Services. The fully digital investment advisor service, offered by Citizens Investment Services and its sub-advisor, SigFig Wealth Management, LLC, provides customized investment guidance and portfolio management.

$CFG {{ '2017-08-25T20:56:39+0000' | timeago}} • Announcement

$CFG's BoD declared a semi-annual dividend of $27.50 per share on its 5.500% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is payable on Oct. 6, 2017 to shareholders of record at the close of business on Sept. 21, 2017.

$CFG {{ '2017-07-24T15:16:16+0000' | timeago}} • Announcement

$CFG subsidiary Citizens Commercial Banking has appointed Laura Neenan Fogarty as head of its national healthcare banking group. Most recently, Fogarty served Citigroup as Managing Director of Healthcare Corporate Banking. Earlier, she worked as corporate banker at Bank of New York and Bank of America.

$CFG {{ '2017-07-21T12:33:01+0000' | timeago}} • Announcement

$CFG's BoD declared a 3Q17 cash dividend of $0.18 per common share, an increase of $0.04 per share, or 29%. The dividend is payable on Aug. 16, 2017 to shareholders of record at the close of business on Aug. 2, 2017.

$CFG {{ '2017-07-21T12:31:04+0000' | timeago}} • Announcement

$CFG's total borrowed funds was $15.6Bil at June 30, 2017, down $48MM from March 31, 2017. This reflects rise in long-term borrowings, which was more than offset by a decline in other short-term borrowings, primarily Federal Home Loan Bank advances and fall in federal funds purchased and securities sold under agreements to repurchase.

$CFG {{ '2017-07-21T12:28:42+0000' | timeago}} • Announcement

$CFG's net interest income for 2Q17 increased 11% given 6% average loan growth and a 13 basis point improvement in net interest margin. Net interest margin of 2.97% reflects improved loan yields, driven by higher rates and balance sheet optimization initiatives, partially offset by investment portfolio growth and higher funding costs.

$CFG {{ '2017-07-21T12:24:40+0000' | timeago}} • Announcement

$CFG posted a 31% jump in 2Q17 earnings on higher net interest income, strength in mortgage banking fees, service charges and fees and capital markets fees along with continued expense management discipline. Net income grew to $318MM from $243MM in 2Q16 and EPS climbed 37% to $0.63. Revenue rose 1% to $1.4Bil.

$CFG {{ '2017-07-17T14:13:05+0000' | timeago}} • Announcement

$CFG's subsidiary Citizens Bank has hired Joseph Giampetroni as Regional Executive for the Midwest with responsibility for corporate banking in the greater Chicago area, Michigan and Ohio. Most recently at U.S. Bank, he headed up the Midwest Corporate Banking Division.

$CFG {{ '2017-06-15T13:35:01+0000' | timeago}} • Announcement

Citizens Bank, a subsidiary of $CFG, said it will partner with Bottomline Technologies to deploy a market-leading online and mobile banking platform for its Commercial and Business Banking clients. Current Citizens clients are scheduled to begin migrating to the new platform in 2H18.

$CFG {{ '2017-05-30T20:23:02+0000' | timeago}} • Announcement

$CFG appointed Brendan Coughlin, president of Consumer Lending, to the company’s Executive Committee, effective immediately.

$CFG {{ '2017-05-02T15:05:28+0000' | timeago}} • Announcement

$CFG announced the acquisition of Western Reserve Partners LLC, a Cleveland-based merger and acquisition advisory firm. The transaction follows the 2016 launch of Citizens Capital Markets, which added broker-dealer capabilities to the bank's capital markets platform. The transaction will be funded with cash.

$CFG {{ '2017-04-20T15:34:29+0000' | timeago}} • Webcast

$CFG said it is looking for opportunities to optimize and improve its funding on both consumer and commercial side of businesses. The company said it is seeing good control of deposit cost in the consumer side and it is looking for ways to better fund the balance sheet.

$CFG {{ '2017-04-20T11:22:39+0000' | timeago}} • Announcement

$CFG's BoD declared a 2Q17 cash dividend of $0.14 per common share. The dividend is payable on May 17, 2017 to shareholders of record on May 3, 2017.

$CFG {{ '2017-04-20T11:21:28+0000' | timeago}} • Announcement

$CFG's assets of $150.3Bil as of March 31, 2017, up 7% from March 31, 2016. This is driven by $7Bil rise in loans and leases and loans held for sale, as well as a $3.9Bil rise in investment portfolio assets, partially offset by a $681MM reduction in other non-earning assets, largely derivatives tied to change in classification of margin payments.

$CFG {{ '2017-04-20T11:15:54+0000' | timeago}} • Announcement

$CFG's 1Q17 results reflect continued expense management discipline with nearly 1% positive operating leverage and a 50 point improvement in efficiency ratio to 62%. Provision expense fell by $6MM, as net charge-offs dropped to 33 points of average loans. Results also reflect 14% fall in tax expense on settlement of certain state tax matters.

$CFG {{ '2017-04-20T11:13:55+0000' | timeago}} • Announcement

$CFG reported a 43% jump in earnings for 1Q17 driven by higher net interest income, on continued loan growth and improved net interest margin. Net income rose to $320MM or $0.61 per share from $223MM or $0.41 per share last year. Revenue grew 12% to $1.38Bil. Underlying EPS increased 39% to $0.57.

$CFG {{ '2017-04-03T14:53:21+0000' | timeago}} • Announcement

Citizens Bank, a subsidiary of $CFG, hired Chapin Bates as regional executive and head of NYC Metro. Bates joins Citizens following a successful 20-plus year career at $JPM, where he was Managing Director and Head of Middle Market Banking for Manhattan and Brooklyn.

$CFG {{ '2017-02-28T15:31:30+0000' | timeago}} • Announcement

$CFG announced the pricing of senior unsecured notes of $1Bil aggregate principal amount, consisting of $700MM 2.250% fixed-rate notes due 2020, $300MM floating-rate notes due 2020. The Bank intends to use the net proceeds from the offering for general corporate purposes.

$CFG {{ '2017-01-20T17:59:42+0000' | timeago}} • Webcast

$CFG said that there are interesting projects in the pipeline, but the money might be a little more circumspect with the higher interest rates. The company said it still sees good fundamental demand despite this headwind.

$CFG {{ '2017-01-20T17:22:16+0000' | timeago}} • Webcast

$CFG said that it has great product capability in the cash management side. Within the Commercial business, the company believes its products and payables are very strong and have nice growth associated with them.

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