- Citizens Financial press release ( NYSE: CFG ): Q4 Non-GAAP EPS of $1.32 in-line.
- Revenue of $2.2B (+27.9% Y/Y) misses by $20M .
- ROTCE of 19.4%
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Underlying PPNR of $1.0 billion, up 2% QoQ –
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NII up 2% QoQ given improved net interest margin, up 5 bps –
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Fees down 1% QoQ with lower mortgage fees and FX and derivative products, partly offset by improvement in capital markets fees –
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Expenses well controlled, stable QoQ
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Positive underlying operating leverage of 1% QoQ – Underlying efficiency ratio improved to 54.4%
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Continued strong credit performance with NCO ratio of 22 bps Period-end and average loans broadly stable QoQ, up 1% ex-auto run off – Loan yield up 58 bps QoQ
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Period-end and average deposits up 1% QoQ; deposit costs up 49 bps
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Period-end LDR of 87%; liquidity position remains strong
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Strong CET1 ratio at upper end of target range at 10.0%
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TBV/share of $27.88, up 5% QoQ
For further details see:
Citizens Financial Non-GAAP EPS of $1.32 in-line, revenue of $2.2B misses by $20M