Published on 19 Jan 2022 on Zacks via Yahoo Finance
Citizens Financial (CFG) Q4 Earnings & Revenues Beat, Loans Up
Citizens Financial Group CFG has reported fourth-quarter 2021 underlying earnings per share of $1.26, surpassing the Zacks Consensus Estimate of $1.16. Also, the bottom line rose 21% from the year-ago quarter figure.
Benefits from provisions and a rise in loan balances propelled the results. Further, strong credit quality, backed by an improving economy, was a tailwind. However, a rise in expenses and declining net interest income (NII) were spoilsports.
Net income was $530 million compared with $456 million reported in the prior-year quarter.