---
schema_version: "secwatch.filing_event.v1"
accession: "0000759944-23-000058"
form_type: "8-K"
ticker: "CFG"
cik: "0000759944"
company_name: "CITIZENS FINANCIAL GROUP INC/RI"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-17T00:02:35.412291+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Citizens Q1 net income $511M ($1.00 EPS); underlying EPS $1.10; deposits stable in March

## Summary
- Net income $511M, diluted EPS $1.00; underlying net income $560M, underlying EPS $1.10.
- Total revenue $2.128B; NIM stable at 3.30%; underlying PPNR $898M.
- Period-end deposits $172.2B (down 4.7% QoQ); deposits stable in March; LDR 89.8%.
- CET1 ratio 10.0% (upper end of target); repurchased $400M in shares; TBV/share $29.44.
- Provision for credit losses $168M; NCO ratio 0.34%; ACL/loans ratio 1.47%.

## SEC filing metadata
- accession: 0000759944-23-000058
- form_type: 8-K
- ticker: CFG
- cik: 0000759944
- company_name: CITIZENS FINANCIAL GROUP INC/RI
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/759944/000075994423000058/0000759944-23-000058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/759944/000075994423000058/cfg-20230419.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000759944-23-000058
- JSON: https://secwatch.observer/filing/0000759944-23-000058.json
- Plain text: https://secwatch.observer/filing/0000759944-23-000058.txt

## Key facts
- Earnings Releases
  CITIZENS FINANCIAL GROUP INC/RI reported financial results for first quarter 2023.
  - Period: first quarter 2023
  - Result: reported results
  source text: Citizens Financial Group, Inc. Reports First Quarter 2023 Net Income of $511 million and EPS of $1.00 Underlying Net Income of $560 million and EPS of $1.10
  evidence_url: https://www.sec.gov/Archives/edgar/data/759944/000075994423000058/0000759944-23-000058-index.htm
- Earnings Releases
  CITIZENS FINANCIAL GROUP INC/RI reported financial results for first quarter 2023.
  - Period: first quarter 2023
  - Result: reported results
  source text: On April 19, 2023, Citizens Financial Group, Inc. (the “Company”) issued a press release announcing its first quarter 2023 earnings and posted on its website the press release and a financial supplement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/759944/000075994423000058/0000759944-23-000058-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.