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CFG-News
CFG-Events
Q3 Noninterest Income Expected to Rise About 1%
Sees Q3: Noninterest income up about 1%; Noninterest expense stable to up slightly; Net charge-offs stable to down slightly; CET1 ratio about 10.5%, $125M in share repurchases; Tax rate about 22%. All figures on sequential basis. Comments taken from investor presentation slides.
Significant NII Growth Expected in 2026
Says significant NII tailwind in 2026 given swaps and positive balance sheet dynamics with NIM increasing to 3.30%-3.50% by 4Q27. Says well positioned to deliver 16%-18% ROTCE by end of 2027 given strategic initiatives and NII tailwinds.
Expects NII Above Guidance for FY2026
Expects NII above the guidance range and fees towards the high end; expenses slightly higher given strong revenue performance. Positioned to generate about 600+ bps of positive operating leverage in FY2026. Continuing favorable credit trends across net charge-offs and other credit metrics.
Bruce Van Saun Reports Q2 Revenue of $2.28B
Reports Q2 revenue $2.28B, consensus $2.25B. "We delivered an outstanding second quarter, led by strong revenue growth, significant positive operating leverage and favorable credit performance," said Chairman and CEO Bruce Van Saun. "We are executing well on our strategic initiatives, with continued strong growth in the Private Bank, record Wealth fees and record second quarter fees in Capital Markets, meaningful progress on Reimagine the Bank, and the successful launch of a new Consumer mobile platform. We were pleased about the DFAST stress loss results and anticipate further improvement under the new Fed models. We remain confident in our momentum and outlook through the remainder of 2026 and for 2027."
Citizens Financial Appoints Brendan Coughlin to Oversee Commercial Banking
Citizens Financial announced that Brendan Coughlin, President of Citizens, has assumed oversight of Commercial Banking, adding to a portfolio that already includes the bank's Consumer Banking, Private Bank, and Wealth businesses as well as several enterprise functions. Ted Swimmer, Head of Commercial Banking and a member of Citizens' Executive Committee since 2018, will report to Coughlin and continue to lead that business. "Brendan has consistently shown he can take on broader responsibilities and deliver impressive results, and adding Commercial Banking to his remit is a natural next step in broadening and deepening his experience across all aspects of the bank," said Bruce Van Saun, Chairman and Chief Executive Officer of Citizens. "The Commercial Bank is having a strong year and is very well positioned for the future, and I look forward to continued growth under Ted's leadership."
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