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Citizens Financial Group's 2023 Net Income Drops $465M Amid Rising Expenses & CRE Loan Losses

CFG10-KFiling Date: 2/16/2024
Citizens Financial Group Inc
Description

What this story covers

Citizens Financial Group's 2023 net income decreased by 465 million dollars, driven by higher noninterest expenses and increased credit loss provisions, particularly for Commercial Real Estate Office portfolios. Despite revenue growth, efficiency deteriorated, and nonaccrual loans rose significantly.

Story snapshot

CompanyCitizens Financial Group Inc
TickerCFG
VariantStandard detailed
Duration32:42
Filing type10-K
PeriodAnnual 2023
IndustryFinancial Services
Accession0000759944-24-000039

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