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Citizens Financial Group in Providence, R.I., has expanded its student loan-refinancing program to include more options for shorter loan terms.
November 21 -
Citizens Financial Group, which held an initial public offering Wednesday, will hire 350 mortgage officers and soon announce a new treasury services head, the bank's chief executive told American Banker.
September 24 -
Citizens Financial Group in Providence, R.I., has upgraded its education refinance loan product to enable college graduates to refinance federal student loans in addition to private student loans.
September 17
Citizens Financial Group in Providence, R.I.,
The $133 billion-asset company earned $197 million in the fourth quarter, an increase of 30% from a year earlier. Earnings per share were 36 cents, or three cents higher than an estimate of analysts polled by Bloomberg.
The quarterly results follow the company's
A larger lending portfolio drove the fourth-quarter profits. Total loans grew 8%, to $93.7 billion, boosted by an uptick in commercial lending.
Net interest income rose 8%, to $840 million. The net interest margin narrowed 3 basis points, to 2.8%.
Meanwhile, fee-based income dropped 11%, to $339 million, mainly because of lower securities gains and mortgage banking revenue.
Operating expenses edged up about 1%, to $824 million.