PROVIDENCE – Citizens Financial Group Inc. posted a profit of $436 million for the second quarter of 2025 on Thursday, an 11% increase year-over-year.
The parent company for Rhode Island-based Citizens Bank reported a net income of 92 cents per diluted share compared with 78 cents per diluted share in the second quarter of 2024.
This result exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The bank’s revenue for the quarter, which ended June 30, was $2.04 billion, a nearly 4% increase from the $1.96 billion reported in the same period last year, which also surpassed Wall Street expectations.
Net interest income – a key metric for banks to measure how much money they have made from lending – was $1.43 billion reported this quarter, compared with $1.41 billion in 2024.
Service charges and fees increased by $5 million and card fees dropped by $2 million.
“We are pleased to report strong results today that came in ahead of expectations, paced by strong net interest income and fee growth, disciplined expense management, and credit results that are trending favorably,” said Citizens Chairman and CEO Bruce Van Saun. “We saw some sizable merger & acquisition advisory fees push out to July, but offset that with strong performance across other fee categories. We are well-positioned to have a strong second half of the year and to sustain that momentum into the medium-term.”
Total assets reported by the bank this quarter were $218 billion, down slightly year-over-year from $219 billion.
As for quarterly deposits, Citizens posted $175 billion compared with $176.3 billion in the second quarter of 2024.
The bank's net interest margin for the quarter, which measures the difference between interest income generated and the amount the bank pays out, was 2.95%, up from 2.87% reported in 2024.
Noninterest income was $600 million for the quarter compared with $553 million this time last year, making for a 7.8% increase year-over-year.
Citizens' noninterest expense remained the same year-over-year at $1.3 billion.
(Material from The Associated Press was used in this report.)
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
