Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer
01 7월 2023 - 6:09AM
Business Wire
Citizens Financial Group, Inc. (NYSE: CFG or the “Company”)
today announces the Board of Governors of the Federal Reserve
System (the “Federal Reserve”) has communicated to the Company its
preliminary Stress Capital Buffer (“SCB”) of 4.0%, effective
October 1, 2023, following the release of the Federal Reserve’s
DFAST stress test results on June 28, 2023.
The Company’s regulatory minimum CET1 ratio implied by the
preliminary SCB is now 8.5%, up from 7.9%. Citizens expects the
second quarter 2023 CET1 ratio to be approximately 175 basis points
above the implied regulatory minimum, reaffirming the capital
strength of the Company. This strong capital position permits
continued support of customer needs and organic growth initiatives
as well as strong ongoing return of capital to shareholders. The
remaining capacity under Citizens’ Board of Directors’ February
2023 authorization of common share repurchases is $1.344 billion as
of June 30, 2023.
“We are pleased that the Federal Reserve’s stress test results
illustrate Citizens’ strong capital position well in excess of our
regulatory minimum and the resilience of our balance sheet and
business model. In addition, we take further comfort in the fact
that our company-run stress test results imply significantly lower
capital drawdown than the Federal Reserve’s models,” said John F.
Woods, Vice Chairman and Chief Financial Officer.
About Citizens Financial Group,
Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $222.3 billion in assets as of
March 31, 2023. 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 full-service customer
contact center and the convenience of approximately 3,300 ATMs and
approximately 1,200 branches in 14 states and the District of
Columbia. Consumer Banking products and services include a full
range of banking, lending, savings, wealth management and small
business offerings. In Commercial Banking, Citizens offers a broad
complement of financial products and solutions, including lending
and leasing, deposit and treasury management services, foreign
exchange, interest rate and commodity risk management solutions, as
well as loan syndication, corporate finance, merger and
acquisition, and debt and equity capital markets capabilities. More
information is available at www.citizensbank.com or visit us on
Twitter, LinkedIn or Facebook.
Forward-Looking
Statements
This document contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Any statement that does not describe historical or current facts is
a forward-looking statement. These statements often include the
words “believes,” “expects,” “anticipates,” “estimates,” “intends,”
“plans,” “goals,” “targets,” “initiatives,” “potentially,”
“probably,” “projects,” “outlook,” “guidance” or similar
expressions or future conditional verbs such as “may,” “will,”
“should,” “would,” and “could.”
Forward-looking statements are based upon the current beliefs
and expectations of management, and on information currently
available to management. Our statements speak as of the date
hereof, and we do not assume any obligation to update these
statements or to update the reasons why actual results could differ
from those contained in such statements in light of new information
or future events. We caution you, therefore, against relying on any
of these forward-looking statements. They are neither statements of
historical fact nor guarantees or assurances of future performance.
While there is no assurance that any list of risks and
uncertainties or risk factors is complete, important factors that
could cause actual results to differ materially from those in the
forward-looking statements include the following, without
limitation:
- Negative economic, business and political conditions, including
as a result of the interest rate environment, supply chain
disruptions, inflationary pressures and labor shortages, that
adversely affect the general economy, housing prices, the job
market, consumer confidence and spending habits;
- The general state of the economy and employment, as well as
general business and economic conditions, and changes in the
competitive environment;
- Our capital and liquidity requirements under regulatory
standards and our ability to generate capital and liquidity on
favorable terms;
- The effect of changes in the level of commercial and consumer
deposits on our funding costs and net interest margin;
- Our ability to implement our business strategy, including the
cost savings and efficiency components, and achieve our financial
performance goals, including the anticipated benefits of the
Investors acquisition and HSBC transaction;
- The effects of geopolitical instability, including as a result
of Russia’s invasion of Ukraine and the imposition of sanctions on
Russia and other actions in response, on economic and market
conditions, inflationary pressures and the interest rate
environment, commodity price and foreign exchange rate volatility,
and heightened cybersecurity risks;
- Our ability to meet heightened supervisory requirements and
expectations;
- Liabilities and business restrictions resulting from litigation
and regulatory investigations;
- The effect of changes in interest rates on our net interest
income, net interest margin and our mortgage originations, mortgage
servicing rights and mortgages held for sale;
- Changes in interest rates and market liquidity, as well as the
magnitude of such changes, which may reduce interest margins,
impact funding sources and affect the ability to originate and
distribute financial products in the primary and secondary
markets;
- Financial services reform and other current, pending or future
legislation or regulation that could have a negative effect on our
revenue and businesses;
- Environmental risks, such as physical or transitional risks
associated with climate change, and social and governance risks,
that could adversely affect our reputation, operations, business,
and customers;
- A failure in or breach of our operational or security systems
or infrastructure, or those of our third-party vendors or other
service providers, including as a result of cyber-attacks; and
- Management’s ability to identify and manage these and other
risks.
In addition to the above factors, we also caution that the
actual amounts and timing of any future common stock dividends or
share repurchases will be subject to various factors, including our
capital position, financial performance, capital impacts of
strategic initiatives, market conditions, receipt of required
regulatory approvals and other regulatory considerations, as well
as any other factors that our Board of Directors deems relevant in
making such a determination. Therefore, there can be no assurance
that we will repurchase shares from or pay any dividends to holders
of our common stock, or as to the amount of any such repurchases or
dividends.
More information about factors that could cause actual results
to differ materially from those described in the forward-looking
statements can be found in the “Risk Factors” section in Part I,
Item 1A of our 2022 Form 10-K.
CFG-IR
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230630478181/en/
Media: Peter Lucht - 781.655.2288 Investors:
Kristin Silberberg - 203.900.6854
Citizens Financial (NYSE:CFG)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Citizens Financial (NYSE:CFG)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024