Citizens Bank could withstand deep recession, stress test shows

PROVIDENCE-BASED Citizens Bank’s latest self-performed stress test found the bank could withstand a deep recession. / BLOOMBERG NEWS FILE PHOTO/KELVIN MA
PROVIDENCE – A deep, prolonged recession would cost Providence-based Citizens Bank billions of dollars, but the bank would be able to withstand it, according to Citizens’ latest required stress test. Citizens Financial Group, the bank’s holding company, is “well-positioned to withstand stress due to the strength of its balance sheet, risk profile and capital base,”…

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