Citizens Financial Group, Inc. Reports First Quarter 2022 Net Income of $420 Million and EPS of $0.93

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PROVIDENCE, RI–(BUSINESS WIRE)–Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today released its first quarter 2022 financial results. The earnings press release, investor presentation and financial supplement are available at http://investor.citizensbank.com. In addition, these documents will be provided to the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC’s website at www.sec.gov.

“We started 2022 with strong financial performance as strong net interest income, good spending discipline and excellent credit helped offset the impact of the macro environment on capital markets and equity market revenues. mortgages,” said Chairman and CEO Bruce Van Saun. “We were delighted to close both the HSBC branch and the Investors Bancorp acquisitions, and we look forward to building a strong franchise in the New York City subway market. Our strategic initiatives are on track, which should lead to relative outperformance going forward. During the quarter, we actively managed our balance sheet strategies and feel well positioned to take advantage of market expectations of significant rate hikes. Our updated guidance demonstrates confidence in our prospects for a strong 2022.”

Citizens also announced today that its Board of Directors has declared a common stock dividend of $0.39 per share for the second quarter of 2022. The dividend is payable May 17, 2022 to shareholders of record at the close of business on May 3, 2022.

As previously announced, Citizens will host a live conference call to review its first quarter 2022 financial results. Interested parties can access the call and related materials via the following details:

Conference call

Time: 9:00 a.m. ET

Call: (877) 336-4440, conference ID 6052001

Webcast/Presentation: The live webcast will be available at http://investor.citizensbank.com under Events & Presentations.

Replay Information: A replay of the conference call will be available beginning at 12:00 p.m. ET from April 19, 2022 through May 19, 2022. Please dial (866) 207-1041 and enter passcode 8193987. The replay of the webcast will be available at http://investor.citizensbank.com under Events & Presentations.

About Citizens Financial Group, Inc..

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $192.1 billion in assets as of March 31, 2022. Headquartered in Providence, Rhode Island, Citizens offers a wide range of retail and commercial banking products and services for individuals, small businesses, ETIs, large corporations and institutions. Citizens helps its clients reach their potential by listening to them and understanding their needs in order to offer advice, ideas and tailor-made solutions. In Consumer Banking, Citizens offers an integrated experience that includes mobile and online banking, a full-service customer contact center, and the convenience of approximately 3,300 ATMs and approximately 1,200 branches in 14 states and the district. of Columbia. Consumer Banking’s products and services include a full suite of banking, lending, savings, wealth management and small business offerings. In commercial banking, Citizens offers a wide range of financial products and solutions, including lending and leasing services, deposit and cash management services, foreign exchange risk management solutions, interest rate interest and commodities, as well as loan syndication, corporate finance, mergers and acquisitions, and debt and equity markets capabilities. More information is available at www.citizensbank.com or visit us at TwitterLinkedIn or Facebook.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “goals”, “targets”, “initiatives”, ” potentially”, “probably”. “projects”, “outlook”, “direction” or similar expressions or future or conditional verbs such as “may”, “shall”, “should”, “would” and “could”. Forward-looking statements are based on management’s current beliefs and expectations, as well as information currently available to management. Our statements speak as of the date hereof, and we undertake no obligation to update such statements or to update why actual results may differ from those contained in such statements in light of new information or changes. future events. We therefore advise you not to rely on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Further information about the factors that could cause actual results to differ materially from those described in the forward-looking statements is available under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31. 2021, as filed with the United States Securities and Exchange Commission.

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