AI English summary of an SEC filing — figures as filed
Citizens Financial Group CFGThe company said net income for Q2 2024 was $392 million and diluted EPS was $0.78. Underlying net income was $408 million, and underlying EPS was $0.82.
Key points
AI summaryThe company said net income for Q2 2024 was $392 million and diluted EPS was $0.78. Underlying net income was $408 million, and underlying EPS was $0.82.
Citizens Financial Group said net interest income for Q2 was $1,410 million, down 2% from the prior quarter, and net interest margin (FTE) was 2.87%, down 4 basis points. It said underlying noninterest income was $549 million, up 7%.
The company said total loans as of the end of Q2 were $141,842 million, down 1% from the prior quarter, and deposits were $176,352 million. It said the net charge-off ratio was 0.52% and the allowance for credit losses to loans ratio was 1.63%.
The company said its CET1 ratio was 10.7% as of the end of Q2. It said it paid common stock dividends of $193 million and repurchased $200 million of common stock in Q2. Its board declared a quarterly dividend of $0.42 per share.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.
Q2 Net Income and Underlying Net Income
The company said net income for Q2 2024 was $392 million and diluted EPS was $0.78. Underlying net income was $408 million, and underlying EPS was $0.82.
Source · Based on the filing body and exhibits
Lower Net Interest Income and Higher Fee Income
Citizens Financial Group said net interest income for Q2 was $1,410 million, down 2% from the prior quarter, and net interest margin (FTE) was 2.87%, down 4 basis points. It said underlying noninterest income was $549 million, up 7%.
Source · Based on the filing body and exhibits
Loan and Deposit Balances and Credit Metrics
The company said total loans as of the end of Q2 were $141,842 million, down 1% from the prior quarter, and deposits were $176,352 million. It said the net charge-off ratio was 0.52% and the allowance for credit losses to loans ratio was 1.63%.
Source · Based on the filing body and exhibits
Capital Ratios and Shareholder Returns
The company said its CET1 ratio was 10.7% as of the end of Q2. It said it paid common stock dividends of $193 million and repurchased $200 million of common stock in Q2. Its board declared a quarterly dividend of $0.42 per share.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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