Bank stocks have been on a wild ride this year as the industry has attempted to cope with the challenges of both the coronavirus pandemic and an ultra-low-interest-rate environment, among other headwinds. Most banks' market caps dropped significantly below their tangible book values earlier this year, but have since rebounded back to more normal levels.
I recently had the privilege of speaking with Bruce Van Saun, the chairman and CEO of Citizens Financial Group (NYSE: CFG) , a nearly $180 billion asset bank based in Providence, Rhode Island. Here are some of the key takeaways from that conversation.
Image source: Citizens Financial Group
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Here's What the CEO of Citizens Bank Thinks is in Store for Banking in 2021