Citizens Financial Group, Inc. Publishes Results of its 2017 Dodd-Frank Act Annual Company-Run Stress Test
23 June 2017 - 6:44AM
Business Wire
Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today
published the results of its annual company-run 2017 stress test
conducted in accordance with the Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010. The disclosure includes stress
test results for CFG and its subsidiary, Citizens Bank, N.A. under
the Board of Governors of the Federal Reserve System’s (“Federal
Reserve”) severely adverse scenario and do not reflect any capital
actions that Citizens may have requested under the Federal
Reserve’s Comprehensive Capital Analysis and Review, or “CCAR”.
The Federal Reserve has indicated that it will release CCAR
results on June 28, 2017.
The Dodd-Frank Act company-run stress test disclosure, including
general descriptions of methodologies used in the stress test is
available at investor.citizensbank.com under “Regulatory Filings
and Disclosures.”
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and
largest financial institutions, with $150.3 billion in assets as of
March 31, 2017. Headquartered in Providence, Rhode Island, Citizens
offers a broad range of retail and commercial banking products and
services to individuals, small businesses, middle-market companies,
large corporations and institutions. In Consumer Banking, Citizens
helps its retail customers “bank better” with mobile and online
banking, a 24/7 customer contact center and the convenience of
approximately 3,200 ATMs and approximately 1,200 Citizens Bank
branches in 11 states in the New England, Mid-Atlantic and Midwest
regions. Citizens also provides wealth management, mortgage
lending, auto lending, student lending and commercial banking
services in select markets nationwide. In Commercial Banking,
Citizens offers corporate, institutional and not-for-profit clients
a full range of wholesale banking products and services including
lending and deposits, capital markets, treasury services, foreign
exchange and interest hedging, leasing and asset finance, specialty
finance and trade finance. Citizens operates through its
subsidiaries Citizens Bank, N.A. and Citizens Bank of Pennsylvania
as Citizens Bank, Citizens Commercial Banking and Citizens One.
Additional information about Citizens and its full line of products
and services can be found at www.citizensbank.com.
Cautionary Statement About Forward-Looking Statements
This news release contains forward-looking statements within the
Private Securities Litigation Reform Act of 1995. Statements about
our future regulatory capital compliance, which will be an
important factor in determining the extent to which we may pay
common stock dividends and repurchase our common stock are
forward-looking statements. Also, 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” or similar expressions or future conditional verbs such
as “may,” “will,” “should,” “would,” and “could.”
Forward-looking statements are based upon the current beliefs
and expectations of management, and on information currently
available to management. Our statements speak as of the date
hereof, and we do not assume any obligation to update these
statements or to update the reasons why actual results could differ
from those contained in such statements in light of new information
or future events. We caution you, therefore, against relying on any
of these forward-looking statements. They are neither statements of
historical fact nor guarantees or assurances of future
performance.
We also caution that the amount and timing of any future common
stock dividends or stock repurchases will depend on our financial
condition, earnings, cash needs, regulatory constraints, capital
requirements (including requirements of our subsidiaries), and any
other factors that our Board of Directors deems relevant in making
such a determination. Therefore, there can be no assurance that we
will pay any dividends to holders of our common stock, or as to the
amount of any such dividends.
More information about factors that could cause actual results
to differ materially from those described in the forward-looking
statements can be found under “Risk Factors” in our Annual Report
on Form 10-K, filed with the United States Securities and Exchange
Commission on February 24, 2017.
CFG-IR
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version on businesswire.com: http://www.businesswire.com/news/home/20170622006198/en/
Citizens Financial Group, Inc.Media:Peter
Lucht, 781-655-2288orInvestors:Ellen A.
Taylor, 203-900-6854
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