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Citizens Financial Group

CFG Q3 2025 Earnings

Reported Oct 15, 2025 at 6:32 AM ET · SEC Source

Q3 25 EPS

$1.05

BEAT +2.20%

Est. $1.03

Q3 25 Revenue

$2.12B

BEAT +0.82%

Est. $2.10B

vs S&P Since Q3 25

+28.1%

BEATING MARKET

CFG +38.5% vs S&P +10.4%

Market Reaction

Did CFG Beat Earnings? Q3 2025 Results

Citizens Financial Group posted a solid third quarter of 2025, with earnings per share of $1.05 beating the $1.03 consensus estimate by 2.20%, while revenue of $2.12 billion edged past expectations by 0.82%, even as the top line fell 31.1% year over … Read more Citizens Financial Group posted a solid third quarter of 2025, with earnings per share of $1.05 beating the $1.03 consensus estimate by 2.20%, while revenue of $2.12 billion edged past expectations by 0.82%, even as the top line fell 31.1% year over year amid ongoing balance sheet restructuring. The standout driver behind the quarter was a powerful combination of capital markets and wealth management momentum, with capital markets fees climbing 77% year over year to $166.00 million, its strongest showing in several years, while net interest margin expanded to 3.00% on a fully taxable-equivalent basis, up 23 basis points from a year ago, fueled by the continued runoff of the Non-Core portfolio and diminishing terminated swap headwinds. Credit quality also improved, with net charge-offs narrowing to 46 basis points from 54 basis points a year ago. CEO Bruce Van Saun has pointed to wealth and capital markets as the central engines of the bank's growth story, and management's fourth-quarter guidance reinforces that optimism, projecting net interest income growth of 2.5 to 3% and charge-offs trending into the low 40 basis point range.

Key Takeaways

  • • NIM expansion to 3.00% driven by Non-Core runoff and terminated swap benefits
  • • Capital Markets fees up 58% QoQ and 77% YoY, strongest quarter since Q4 2021
  • • Private Bank contributing $0.08 to EPS, up $0.02 QoQ
  • • 3% sequential positive operating leverage
  • • Efficiency ratio improved to 63.03% from 66.23% YoY, a 320 bps improvement
  • • Net charge-offs declined to 46 bps from 54 bps YoY and 48 bps QoQ
  • • Fixed-rate asset repricing benefits in securities and mortgage
  • • ROTCE of 11.75%, up 230 bps YoY
  • • Tangible book value per share grew 10% YoY to $36.73
24/7 Wall St

CFG YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

CFG Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 24 Q1 26

“We are pleased to report very strong results for the third quarter, paced by excellent NII and fee growth, 3% sequential positive operating leverage, and credit results that continue to trend favorably. Loan and deposit growth was solid, as the Private Bank delivered strong performance. A pick-up in market activity drove our highest Capital Markets revenues since fourth quarter of 2021, with pipelines remaining strong. Our Reimagine the Bank initiative continues to take shape and will positively contribute to delivery of our medium-term targets. All in all, we feel we have good momentum and are very well-positioned for the medium-term.”

— Bruce Van Saun, Q3 2025 Earnings Press Release

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