Nov 04, 2021 / 05:00PM GMT
John G. Pancari - Evercore ISI Institutional Equities, Research Division - Senior MD & Senior Equity Research Analyst
Thank you. We're going to get started now. I said earlier, Nancy Bush is not here this year. And she was the only 1 that laughs at my jokes the last couple of years, so I'm going to instead go to a fun fact. Currently, there are 233 active insured banks with Citizen or Citizens in their name or in their name at one point in their history. Incredibly, there are 856 inactive banks that had Citizen or Citizens in their name during their history. So this kind of highlights the number of financial institutions in the U.S.
So today, we're here to talk about Citizens Financial Group. Citizens is the 14th largest bank in the U.S. with close to $190 billion in assets, a market cap of $21 billion. Estimated revenues in 2021 of $6.6 billion, with almost 1,000 branches spread across 12 states and a couple of pending acquisitions. Company's revenues are well diversified with 30% fee income, 70% net interest income, thereabouts.
In the third quarter, the company posted ROE of 9.7%;
Citizens Financial Group Inc at BancAnalysts Association of Boston Conference Transcript
Jan 22, 2024
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