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![CITIZENS FINANCIAL GROUP INC/RI [CFG-PD] reports annual net loss of $1.6 billion](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCFG-PD.png&w=1200&q=75)
CITIZENS FINANCIAL GROUP INC/RI [CFG-PD] has reported a net loss of $1.6 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $73.0 million
Based in PROVIDENCE, Rhode Island, CITIZENS FINANCIAL GROUP INC/RI operates in the FINANCE sector.
Consolidated Statements of Operations - USD ($) in Millions 12 Months Ended Dec. 31, 2023 Dec. 31, 2022 Dec. 31, 2021
**Interest Income:**
- Interest and fees on loans and leases: $8,489M $5,968M $4,253M
- Interest and fees on loans held for sale: $73M $67M $82M
- Interest and fees on other loans held for sale: $29M $57M $13M
- Investment securities: $1,162M $840M $487M
- Interest-bearing deposits in banks: $451M $128M $16M
- Total interest income: $10,204M $7,060M $4,851M
**Interest Expense:**
- Deposits: $3,145M $651M $160M
- Short-term borrowed funds: $43M $23M $1M
- Long-term borrowed funds: $775M $374M $178M
- Total interest expense: $3,963M $1,048M $339M
**Net Interest Income:**
- 2023: $6,241M
- 2022: $6,012M
- 2021: $4,512M
**Provision (benefit) for credit losses:**
- 2023: $687M
- 2022: $474M
- 2021: ($411M)
**Net Interest Income after provision (benefit) for credit losses:**
- 2023: $5,554M
- 2022: $5,538M
- 2021: $4,923M
**Noninterest Income:**
- 2023: $1,983M
- 2022: $2,009M
- 2021: $2,135M
**Noninterest Expense:**
- 2023: $5,507M
- 2022: $4,892M
- 2021: $4,081M
**Income before income tax expense:**
- 2023: $2,030M
- 2022: $2,655M
- 2021: $2,977M
**Income tax expense:**
- 2023: $422M
- 2022: $582M
- 2021: $658M
**Net Income:**
- 2023: $1,608M
- 2022: $2,073M
- 2021: $2,319M
**Net income available to common stockholders:**
- 2023: $1,491M
- 2022: $1,960M
- 2021: $2,206M
**Per Common Share Information:**
- Weighted-average common shares outstanding:
- Basic (in shares):
- 2023: 475,089,384
- 2022: 475,959,815
- 2021: 425,669,451
- Diluted (in shares):
- 2023: 476,693,148
- 2022: 477,803,142
- 2021: 427,435,818
- Basic earnings per share (in dollars per share):
- 2023: $3.14
- 2022: $4.12
- 2021: $5.18
- Diluted earnings per share (in dollars per share):
- 2023: $3.13
- 2022: $4.10
- 2021: $5.16
This financial analysis provides a comparative overview of the income statement for the given periods, highlighting changes in key financial metrics such as revenue, expenses, net income, and earnings per share.