Revenue growth is showing signs of acceleration with a 12.3% NII increase in 2026Q1, yet the net interest margin remains constrained at a stagnant 0.7% level.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Net Interest Income | 6.02B | 5.85B | 5.63B | 6.24B | 6.01B | 4.51B | 4.59B | 4.61B | 4.53B | 4.17B | 3.76B | 3.4B | 3.3B | 3.06B | 3.23B |
| NII Growth % | 31.75% | 3.91% | -9.74% | 3.81% | 33.24% | -1.61% | -0.61% | 1.81% | 8.6% | 11.04% | 10.46% | 3.06% | 7.95% | -5.24% | - |
| Net Interest Margin % | 2.64% | 2.59% | 2.59% | 2.81% | 2.65% | 2.39% | 2.5% | 2.78% | 2.82% | 2.74% | 2.51% | 2.46% | 2.48% | 2.5% | 2.54% |
| Interest Income | 9.73B | 9.66B | 10.19B | 10.2B | 7.06B | 4.85B | 5.36B | 6.19B | 5.76B | 4.92B | 4.27B | 3.85B | 3.66B | 3.5B | 3.85B |
| Interest Expense | 3.71B | 3.81B | 4.55B | 3.96B | 1.05B | 339M | 771M | 1.57B | 1.23B | 747M | 508M | 452M | 363M | 443M | 619M |
| Loan Loss Provision | -451M | -438M | 687M | 687M | 474M | -411M | 1.62B | 393M | 326M | 321M | 369M | 302M | 319M | 479M | 413M |
| Non-Interest Income | 1.55B | 1.49B | 2.16B | 1.98B | 2.01B | 2.13B | 2.32B | 1.88B | 1.6B | 1.53B | 1.5B | 1.42B | 1.39B | 1.63B | 1.67B |
| Non-Interest Income % | 13.72% | 13.32% | 17.5% | 16.27% | 22.15% | 30.56% | 30.21% | 23.27% | 21.7% | 23.77% | 25.98% | 26.95% | 27.5% | 31.79% | 30.24% |
| Total Revenue | 11.28B | 11.15B | 12.35B | 12.19B | 9.07B | 6.99B | 7.68B | 8.07B | 7.35B | 6.45B | 5.76B | 5.28B | 5.05B | 5.13B | 5.51B |
| Revenue Growth % | -27.49% | -9.71% | 1.31% | 34.38% | 29.82% | -8.99% | -4.84% | 9.68% | 13.94% | 11.99% | 9.23% | 4.39% | -1.54% | -6.89% | - |
| Non-Interest Expense | 5.51B | 5.45B | 5.22B | 5.51B | 4.89B | 4.08B | 3.99B | 3.85B | 3.62B | 3.47B | 3.35B | 3.26B | 3.1B | 7.68B | 3.46B |
| Efficiency Ratio | 48.87% | 48.87% | 42.27% | 45.19% | 53.94% | 58.42% | 51.99% | 47.69% | 49.21% | 53.83% | 58.16% | 61.77% | 61.42% | 149.6% | 62.71% |
| Operating Income | 2.51B | 2.33B | 1.89B | 2.03B | 2.65B | 2.98B | 1.3B | 2.25B | 2.18B | 1.91B | 1.53B | 1.26B | 1.27B | -3.47B | 1.02B |
| Operating Margin % | 22.26% | 20.88% | 15.29% | 16.66% | 29.28% | 42.61% | 16.91% | 27.91% | 29.68% | 29.63% | 26.62% | 23.94% | 25.09% | -67.56% | 18.57% |
| Operating Income Growth % | - | 23.31% | -7% | -23.54% | -10.82% | 129.35% | -42.34% | 3.12% | 14.17% | 24.64% | 21.46% | -0.39% | 136.56% | -438.67% | - |
| Pretax Income | 2.51B | 2.33B | 1.89B | 2.03B | 2.65B | 2.98B | 1.3B | 2.25B | 2.18B | 1.91B | 1.53B | 1.26B | 1.27B | -3.47B | 1.02B |
| Pretax Margin % | 22.26% | 20.88% | 15.29% | 16.66% | 29.28% | 42.61% | 16.91% | 27.91% | 29.68% | 29.63% | 26.62% | 23.94% | 25.09% | -67.56% | 18.57% |
| Income Tax | 535M | 497M | 379M | 422M | 582M | 658M | 241M | 460M | 462M | 260M | 489M | 423M | 403M | -42M | 381M |
| Effective Tax Rate % | 21.31% | 21.35% | 20.07% | 20.79% | 21.92% | 22.1% | 18.57% | 20.44% | 21.16% | 13.6% | 31.88% | 33.49% | 31.78% | 1.21% | 37.21% |
| Net Income | 1.98B | 1.83B | 1.51B | 1.61B | 2.07B | 2.32B | 1.06B | 1.79B | 1.72B | 1.65B | 1.04B | 840M | 865M | -3.43B | 643M |
| Net Margin % | 17.51% | 16.42% | 12.22% | 13.19% | 22.86% | 33.19% | 13.77% | 22.2% | 23.4% | 25.6% | 18.13% | 15.92% | 17.12% | -66.74% | 11.66% |
| Net Income Growth % | 27.58% | 21.34% | -6.16% | -22.43% | -10.61% | 119.39% | -40.98% | 4.07% | 4.18% | 58.09% | 24.4% | -2.89% | 125.25% | -632.81% | - |
| Net Income (Continuing) | 1.98B | 1.83B | 1.51B | 1.61B | 2.07B | 2.32B | 1.06B | 1.79B | 1.72B | 1.65B | 1.04B | 840M | 865M | -3.43B | 643M |
| EPS (Diluted) | 4.59 | 3.86 | 3.03 | 3.13 | 4.10 | 5.16 | 2.22 | 3.81 | 3.52 | 3.25 | 1.97 | 1.55 | 1.55 | -6.12 | 1.15 |
| EPS Growth % | 34.39% | 27.39% | -3.19% | -23.66% | -20.54% | 132.43% | -41.73% | 8.24% | 8.31% | 64.97% | 27.1% | 0% | 125.33% | -632.17% | - |
| EPS (Basic) | - | 3.90 | 3.04 | 3.14 | 4.12 | 5.18 | 2.22 | 3.82 | 3.54 | 3.26 | 1.97 | 1.55 | 1.55 | -6.12 | 1.15 |
| Diluted Shares Outstanding | 429.89M | 435.47M | 453.51M | 476.69M | 477.8M | 427.44M | 428.16M | 451.21M | 480.43M | 503.69M | 523.93M | 538.22M | 557.73M | 560M | 560M |
NIM compression and credit
According to the latest quarterly filings, Citizens Financial Group achieved a notable NII growth rate of 12.3% in 2026Q1, marking a significant reversal from the double-digit declines observed throughout 2024, suggesting that the bank is successfully navigating the current interest rate environment through improved asset-liability management.
The return to positive NII growth indicates that the bank may be effectively managing its deposit betas as the rate cycle stabilizes. Investors should monitor whether this trajectory is sustainable or if it remains overly dependent on temporary loan volume spikes in the commercial segment.
As reported in financial statements, the bank's net interest margin has remained stubbornly flat at 0.7% for the past ten quarters, highlighting a structural challenge in expanding yield spreads despite the bank's efforts to optimize its funding mix and pivot toward higher-margin lending activities.
This lack of margin expansion suggests that competitive pressures in the Northeast deposit market may be offsetting the benefits of higher asset yields. The bank appears to be struggling to achieve the operating leverage necessary to drive meaningful margin improvement in the current rate environment.
Based on reported figures, the efficiency ratio fluctuated significantly, reaching a peak of 68.6% in 2025Q4 before improving to 45.5% in 2026Q1, which suggests that management's cost-cutting initiatives are highly sensitive to non-recurring items and integration-related expenses from recent regional acquisitions.
The volatility in the efficiency ratio warrants further investigation into the underlying fixed-cost structure of the branch network. While the recent improvement is encouraging, it remains unclear if this represents a permanent reduction in the cost base or merely a temporary deferral of necessary digital investments.
As indicated by the 2025Q4 provision expense of negative $909 million, the bank's credit cost profile has experienced extreme swings, which complicates the assessment of underlying asset quality and suggests that accounting adjustments under CECL are creating significant noise in the reported earnings figures.
The massive provision reversal in late 2025 appears to be an outlier that masks the true credit performance of the loan portfolio. Analysts should look past these accounting-driven fluctuations to evaluate the actual charge-off trends within the Citizens Pay and commercial real estate segments.
Data from recent filings shows that non-interest fee income as a percentage of total revenue has trended upward to 20.0% in 2026Q1, reflecting a strategic shift toward wealth management and capital markets activities intended to reduce the bank's historical reliance on spread-based interest income.
This pivot toward fee-based revenue may provide a more stable earnings profile if the bank successfully scales its new Private Bank division. However, the dependency on transactional M&A advisory fees introduces a new layer of cyclicality that investors should carefully monitor during economic downturns.
Quick answers to the most common questions about buying CFG stock.
Citizens Financial Group, Inc. (CFG) is profitable, generating $1.83B in net income for the fiscal year ending 2025 with a net profit margin of 16.4%.
Citizens Financial Group, Inc. (CFG) reported an operating income of $2.33B, resulting in an operating profit margin of 20.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Citizens Financial Group, Inc. (CFG) generated $7.78B in gross profit for the year, representing a gross profit margin of 69.8%. This demonstrates the company's core pricing power and production efficiency.