Citizens Financial Group Inc/Ri (NYSE: CFG)

Citizens Financial Group, Inc. (CFG) is a prominent financial institution based in Providence, Rhode Island, with a ticker symbol of CFG. The company operates in the financial services industry, offering a wide array of retail and commercial banking products and services to various customer segments. CFG's operations span across two primary business segments: Consumer Banking and Commercial Banking.

Consumer Banking, a key segment of CFG, caters to consumer customers and small businesses with annual revenues of up to $25 million. The offerings include deposits, mortgage and home equity lending, credit cards, small business loans, wealth management, and investment services. This segment boasts a robust multi-channel distribution network, comprising approximately 5,300 branch colleagues, 1,100 branches, and 3,200 ATMs. Additionally, Consumer Banking provides education and point-of-sale finance loans, along with select digital deposit products, on a nationwide scale.

Commercial Banking, the other primary segment, primarily serves companies and institutions with annual revenues ranging from $25 million to over $3.0 billion. This segment's broad range of financial products and solutions encompasses lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, syndicated loans, corporate finance, mergers and acquisitions, and debt and equity capital markets capabilities. Commercial Banking is structured around client segments and their banking needs, with specialized banking groups and a geographic coverage model in place.

CFG's business strategy aims to maximize the potential of its businesses, drive sustainable growth, and enhance profitability. The company prioritizes maintaining a high-performing, customer-centric organization, developing differentiated value propositions to acquire, deepen, and retain core customer segments, and building excellent capabilities to distinguish itself from competitors. CFG also emphasizes financial discipline and continuous improvement, prudently growing and optimizing its balance sheet, and modernizing its technology and operational models to enhance delivery, organizational agility, and speed to market.

The financial services industry is highly competitive, with CFG facing competition from community banks, super-regional and national financial institutions, credit unions, savings and loan associations, mortgage banking firms, consumer finance companies, securities brokerage firms, insurance companies, money market funds, hedge funds, and private equity firms. CFG differentiates itself through innovative corporate finance solutions, quality of customer service and execution, range of products offered, price, and reputation.

CFG's human capital management strategy focuses on creating an environment where colleagues can thrive personally and professionally, maximizing their potential. The company recognizes its long-term success hinges on attracting, developing, and retaining a high-performing workforce. CFG provides a range of employee benefits, including health, well-being, and flexibility programs, and fair and equitable compensation.

In terms of sustainability, CFG is committed to making a positive impact on the environment, society, and the planet. The company has set a $50 billion Sustainable Finance Target, including $5 billion in green financing, by 2030, and has pledged to achieve carbon neutrality by 2035. CFG also engages corporate clients in high-emitting sectors on climate-related topics and aims to engage 100% of its Oil & Gas clients by the end of 2024.

As a bank holding company, CFG is subject to regulation, supervision, and examination by federal and state banking regulators, the SEC, and FINRA. CFG is also subject to enhanced prudential standards and regulatory tailoring rules, which categorize bank holding companies based on size and certain risk-based indicators. CFG currently falls under Category 1, requiring the company to meet specific capital and liquidity requirements.

CFG's brand names and trade names encompass a wide range of retail and commercial banking products and services. These include, but are not limited to, Citizens Bank, Citizens Access, Citizens One, and Citizens Commercial Banking.