Citizens Financial Group, Inc. (CFG)

Citizens Financial Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	8,260	8,591	6,092	4,348	4,827	5,517
Interest Income on Investments	2,140	1,613	968	503	530	672
Total Interest Income	10,400	10,204	7,060	4,851	5,357	6,189
Interest Paid on Deposits	3,916	3,145	651	160	509	1,155
Interest Paid on Borrowings	775	818	397	179	262	420
Total Interest Expense	4,691	3,963	1,048	339	771	1,575
Net Interest Income	5,709	6,241	6,012	4,512	4,586	4,614
Net Interest Income Growth (YoY)	-11.46%	3.81%	33.24%	-1.61%	-0.61%	1.81%
Trust Income	287	259	249	239	203	202
Mortgage Banking Activities	206	242	261	434	915	302
Gain (Loss) on Sale of Investments	23	28	9	10	4	19
Other Non-Interest Income	1,586	1,454	1,490	1,452	1,197	1,354
Total Non-Interest Income	2,102	1,983	2,009	2,135	2,319	1,877
Non-Interest Income Growth (YoY)	7.41%	-1.29%	-5.90%	-7.93%	23.55%	17.61%
Revenues Before Loan Losses	7,811	8,224	8,021	6,647	6,905	6,491
Provision for Loan Losses	696	687	474	-411	1,616	393
Revenue	7,115	7,537	7,547	7,058	5,289	6,098
Revenue Growth (YoY)	-8.28%	-0.13%	6.93%	33.45%	-13.27%	5.10%
Salaries and Employee Benefits	2,560	2,512	2,465	2,073	2,075	1,971
Occupancy Expenses	492	492	410	333	331	333
Selling, General & Administrative	1,661	1,717	1,598	1,375	1,266	1,179
Other Non-Interest Expense	817	786	419	300	319	364
Total Non-Interest Expense	5,530	5,507	4,892	4,081	3,991	3,847
EBT Excluding Unusual Items	1,585	2,030	2,655	2,977	1,298	2,251
Pretax Income	1,585	2,030	2,655	2,977	1,298	2,251
Income Tax Expense	288	422	582	658	241	460
Net Income	1,297	1,608	2,073	2,319	1,057	1,791
Preferred Dividends & Other Adjustments	133	117	113	113	107	73
Net Income to Common	1,164	1,491	1,960	2,206	950	1,718
Net Income Growth	-37.40%	-22.43%	-10.61%	119.39%	-40.98%	4.07%
Basic Shares Outstanding	457	475	476	426	427	450
Diluted Shares Outstanding	459	477	478	427	428	451
Shares Change (YoY)	-5.04%	-0.23%	11.78%	-0.17%	-5.11%	-6.08%
EPS (Basic)	2.55	3.14	4.12	5.18	2.22	3.82
EPS (Diluted)	2.53	3.13	4.10	5.16	2.22	3.81
EPS Growth	-37.29%	-23.66%	-20.54%	132.43%	-41.73%	8.24%
Dividend Per Share	1.680	1.680	1.620	1.560	1.560	1.360
Dividend Growth	0%	3.70%	3.85%	0%	14.71%	38.78%
Effective Tax Rate	18.17%	20.79%	21.92%	22.10%	18.57%	20.44%

Source: S&P Capital IQ. Banks template. Financial Sources.