- Citizens Financial press release ( NYSE: CFG ): Q2 Non-GAAP EPS of $1.14 beats by $0.12 .
- Revenue of $1.99B (+23.6% Y/Y) in-line.
- Underlying PPNR of $850 million, up 45% QoQ, includes ~$150 million contribution from the HSBC/ISBC transactions.
- Excellent credit performance with NCOs of 13 bps down 6 bps QoQ
- Period-end loans up 19% and average loans up 19% QoQ; Excluding HSBC/ISBC impact, periodend loans up 4% and average loans up 3% QoQ
- Period-end and average LDR of 87%; liquidity position remains strong
- Strong positive underlying operating leverage QoQ of 11.7%; 6.3% excluding HSBC/ISBC – Underlying efficiency ratio improved to 58%
- Strong capital position with CET1 at 9.6%
- TBV/share of $29.14, down 6% QoQ
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Citizens Financial Non-GAAP EPS of $1.14 beats by $0.12, revenue of $1.99B in-line