![]() ![]() ![]() ![]() Optimized our geographic footprint: Exited certain geographies where we had underperforming market share positions and redeployed the capital into businesses with more attractive growth and return characteristics.Improved strategic focus: Identified and began reducing our exposure to certain non-core assets deemed to be inconsistent with our strategic goals, generally as a result of geographic location, industry, product type or risk level.Improved deposit mix to include a greater percentage of lower cost and more stable demand, checking, money market and savings accounts, and reduced our reliance on wholesale funding.Transformed business mix: We have focused on achieving a more balanced business mix across our commercial and consumer businesses.Regional Bankįollowing the global financial crisis, we undertook a number of decisive steps to reposition and strengthen our business profile, including: Because when it comes right down to it, Citizens is not really our bank. bank-holding companies with nearly $170.0 billion in assets at the start of the global financial crisis.Īlong the way, one thing has never changed: We are committed to serving the well-being of our customers and the communities. These acquisitions greatly expanded our footprint throughout New England and into the Mid-Atlantic and the Midwest, transforming us from a local retail bank into one of the largest retail U.S. A Bigger Bank Serving More Communitiesįollowing our acquisition by RBS Group in 1988, we grew rapidly, largely through a series of over 25 strategic bank acquisitions as highlighted below. In 1988 we became a wholly-owned subsidiary of the RBS Group. ![]() By 1981, we had grown to 29 branches in Rhode Island with approximately $1.0 billion of assets. Our history dates back to High Street Bank, founded in 1828, which established Citizens Savings Bank in 1871. is one of the oldest and largest financial services firms in the United States. Built on the principle that we succeed only when our customers succeed, Citizens Financial Group, Inc. ![]()
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January 2023
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