Citizens Financial Group (CFG) investor relations material

Strategic transformation and business positioning

• Since 2014, a comprehensive transformation focused on leadership, talent, culture, risk management, and technology has established a strong foundation and market orientation.

• The business strategy centers on a 'triangle' of consumer banking, commercial banking, and private banking/wealth management, each with targeted growth initiatives.

• Consumer banking expanded through acquisitions in the New York metro area, now the fastest-growing region for households and deposits.

• Commercial banking evolved from a regional player to a superregional bank with full capital markets capabilities and industry verticals.

• Private banking scaled rapidly post-First Republic, now contributing over $16B in deposits and 10% of pre-tax income, with plans to reach mid-teens share.

Growth initiatives and market expansion

• Private bank expansion targets major markets including Boston, New York, Florida, and California, with ongoing hiring and new private bank office openings.

• Consumer banking is optimizing its branch footprint, focusing on high-potential markets and staffing models to drive deposit growth.

• Commercial banking leverages expertise in private equity and private credit, maintaining disciplined risk management amid market volatility.

• HELOC origination is a standout, with industry-leading efficiency and customer referrals fueling growth.

Technology and operational efficiency

• The 'Reimagine the Bank' (RTB) AI initiative aims for $450M P&L benefit by 2028, with 11 building blocks and 50 initiatives mapped out.

• Early wins include vendor consolidation and office rationalization, with call center AI/bots expected to deliver $100M run rate by year-end.

• Annual TOP programs have historically delivered $100M in benefits, now evolving into longer-term, tech-driven transformation.