Financial services company Citizens Financial Group, Inc. (NYSE: CFG) on Wednesday reported earnings for the fourth quarter of 2023.
- The company’s fourth-quarter revenues declined to $2.00 billion from $2.20 billion a year earlier
- Net Income came in at $189 million or $0.34 per share in the latest quarter, compared to $653 million or $1.25 per share in the prior-year period
- Underlying net income was $426 million or $0.85 per share in Q4, vs. $1.32 per share in the fourth quarter of 2022
- The underlying efficiency ratio was 63.8%, or 61.9%, excluding private bank start-up investment, during the three months
- Underlying ROTCE decreased to 11.8% in the fourth quarter from 19.4% in the comparable period last year
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