Citizens Financial Group, Inc. Announces an Increase in Common Share Repurchase Authorization to $1.5 billion
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PROVIDENCE, R.I., June 13, 2025--(BUSINESS WIRE)--Citizens Financial Group, Inc. (NYSE: CFG or the "Company") today announces that its board of directors has increased the capacity of the Company’s common share repurchase program to $1.5 billion, an increase of $1.2 billion above the $300 million of capacity currently remaining under the prior June 2024 authorization.
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"We are pleased to report that our Board has approved an increase to our share repurchase authorization. The authorization reflects confidence in our ability to deliver strong financial performance, support our customers, invest across our businesses and drive forward our organic growth initiatives while delivering attractive capital returns to shareholders," said John F. Woods, Vice Chair and Chief Financial Officer.
The Company will assess potential changes to its capital distributions as conditions warrant. Citizens’ common stock repurchases may be executed in the open market or in privately negotiated transactions, including under Rule 10b5-1 plans and accelerated share repurchase and other structured transactions. Share repurchases are subject to consideration and approval by Citizens’ Board of Directors. The timing and exact amount of share repurchases will be subject to various factors, including the company’s capital position, financial performance, capital impacts of strategic initiatives, market conditions and other regulatory considerations.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $220.1 billion in assets as of March 31, 2025. 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. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,100 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X, LinkedIn or Facebook.