Citizens Financial Group posts Q2 net income $587M, EPS $1.30; launches proposed preferred stock offering

Citizens Financial Group reported Q2 net income of $587 million and diluted EPS of $1.30 while launching a proposed Series J preferred stock offering.Key Highlights:Original SEC Filing: CITIZENS FINANCIAL GROUP INC/RI [ CFG ] - 8-K - Jul. 21, 2026This is an AI-powered summary. It may contain inaccu…

Citizens Financial Group reported Q2 net income of $587 million and diluted EPS of $1.30 while launching a proposed Series J preferred stock offering.

Key Highlights:

Second-quarter net income $587M; diluted EPS $1.30 and ROTCE 13.9%, signaling improved profitability.
Total revenue $2.283B; pre-provision net revenue $889M, up 13% QoQ, driven by NII and fees growth.
Net interest income $1.631B (up 4.4% QoQ); NIM 3.17% (up 3 bps QoQ, 22 bps YoY).
Loans $147.5B and deposits $185.6B (average deposits $183.6B); spot LDR 79.5% and ACL coverage 1.48%.
Launched proposed offering of Series J preferred stock to potentially redeem Series G upon pricing; proceeds intended for redemption if priced and closed.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.