Citizens Financial’s profit drops 22% for 2023 to $1.61B

Updated at 2:20 p.m. on Jan. 17.

PBN Staff

01/17/2024

CITIZENS FINANCIAL Group Inc. reported a profit of $1.61 billion in 2023, a decrease from $2.1 billion a year earlie. / COURTESY HORVATH & TREMBLAY

PROVIDENCE – Citizens Financial Group Inc.’s annual profit fell 22% to $1.61 billion in 2023 compared with a year earlier as the rising cost of holding deposits and other expenses – including those from Citizens’ new private bank – outstripped higher interest income on its loans. The parent company of Citizens Bank on Wednesday posted

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