Quarterly ResultMay 4, 2026, 11:27 AM
Citizens Financial Q1 Net Income $517M, EPS $1.13
AI Summary
Citizens Financial Group Inc. reported strong financial results for the three months ended March 31, 2026, with net income increasing to $517 million and diluted EPS rising to $1.13. The company saw significant growth in net interest income and noninterest income, driven by improved funding costs and strong capital markets and wealth fees. Additionally, Citizens Financial completed the acquisition of Matrix Capital Markets Group, Inc., repurchased $300 million of common stock, and issued $1.15 billion in new debt.
Key Highlights
- Net income for Q1 2026 increased by $144 million to $517 million compared to Q1 2025.
- Diluted earnings per common share rose by $0.36 to $1.13 for Q1 2026.
- Net interest income grew by $171 million to $1.6 billion; net interest margin increased 25 basis points to 3.14%.
- Noninterest income increased by $62 million to $606 million, driven by capital markets and wealth fees.
- Completed the acquisition of Matrix Capital Markets Group, Inc. in March 2026.
- Repurchased $300 million of common stock in Q1 2026, with $1.0 billion remaining capacity.
- Issued $400 million fixed-reset subordinated notes and $750 million fixed-to-floating rate senior notes in January 2026.
- Efficiency ratio improved to 63.6% from 67.9%; Return on Average Tangible Common Equity (ROTCE) rose to 12.2% from 9.6%.