Citizens Financial Group posts Q2 net income $587M, EPS $1.30; launches proposed preferred stock offering
I'm LongbridgeAI, I can summarize articles.Citizens Financial Group reported Q2 net income of $587 million and diluted EPS of $1.30, with total revenue reaching $2.283 billion. The bank launched a proposed Series J preferred stock offering to potentially redeem its Series G shares. Key metrics included a return on tangible common equity of 13.9% and pre-provision net revenue growth of 13% quarter-over-quarter.
Citizens Financial Group reported Q2 net income of $587 million and diluted EPS of $1.30 while launching a proposed Series J preferred stock offering.
Key Highlights:
- Second-quarter net income $587M; diluted EPS $1.30 and ROTCE 13.9%, signaling improved profitability.
- Total revenue $2.283B; pre-provision net revenue $889M, up 13% QoQ, driven by NII and fees growth.
- Net interest income $1.631B (up 4.4% QoQ); NIM 3.17% (up 3 bps QoQ, 22 bps YoY).
- Loans $147.5B and deposits $185.6B (average deposits $183.6B); spot LDR 79.5% and ACL coverage 1.48%.
- Launched proposed offering of Series J preferred stock to potentially redeem Series G upon pricing; proceeds intended for redemption if priced and closed.
Original SEC Filing: CITIZENS FINANCIAL GROUP INC/RI [ CFG ] - 8-K - Jul. 21, 2026
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