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Citizens Financial Surge and the Diversified Banking Landscape
Citizens Financial profit jumps on higher fee income, shares hit all-time high
Citizens Financial Group ($CFG) posted a sharp Q4 profit jump, powered by a rebound in fee income (wealth + capital markets) and stronger net interest income as net interest margin widened. The stock hit an all-time high after the print.
What happened
* Q4 profit up about 32% year over year
* Net interest income up about 9%, helped by a ~20 bps improvement in net interest margin
* Non-interest income up about 8%, with wealth fees up about 31% and capital markets fees up about 16%
Why this matters
This is a “quality…
The skinny
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