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Citizens Financial Group Q3 2026 Earnings Report
Citizens Financial Group reports record Q3 revenue and 34% year-over-year EPS growth with strong private bank expansion.
In brief
Citizens Financial Group reports record Q3 revenue and 34% year-over-year EPS growth with strong private bank expansion. Citizens Financial Group reported $636 million net income and $1.41 diluted EPS for Q3 2026, driven by net interest margin expansion and private bank growth. Originally reported by The Motley Fool.
Q3 2026 Earnings Results
Citizens Financial Group reported record revenue of $2,322 million and net income of $636 million, a 29% year-over-year increase.
Diluted EPS Growth
Diluted earnings per share rose to $1.41, up 34% year over year and 8.5% sequentially.
Return on Equity Improvement
Return on average tangible common equity improved to 15.1% from 11.7% in Q3 2025.
Net Interest Margin Expansion
Net interest margin grew to 3.19%, a 19 basis point year-over-year increase and 2 basis points sequentially.
Private Bank Growth
Private Bank deposits reached $18.5 billion with 4% sequential growth and 30% noninterest-bearing demand deposits.
Wealth Fees Record
Wealth fees hit a record $109 million, up 17% year over year driven by advisory fee growth.
Capital Markets Fees
Capital markets fees totaled $149 million, reflecting higher M&A fees despite lower debt and equity underwriting.
Reimagine the Bank Program
Reimagine the Bank program targets $100 million annualized pretax benefit by end of 2026, doubling to $225 million by 2027.
Capital Strength
Common equity tier 1 capital ratio stood at 10.5%, placing Citizens at the top end of its medium-term target range.
Dividend Increase
Quarterly dividend increased 13% to $0.52 per share, with share repurchase capacity raised to $1.95 billion.
Net Interest Income Growth
Net interest income grew 13% year over year to $1,675 million, driven by margin expansion and interest-earning assets.
Loan Growth
Average loans and leases grew to $147.4 billion with 1% sequential growth led by private bank and retail segments.
Deposit Growth
Period-end deposits reached $185.2 billion, representing 3% year-over-year growth driven by private bank buildout.
Mortgage Banking Fees
Mortgage banking fees decreased $13 million due to negative net MSR valuation from high mortgage rate volatility.
Capital Markets Pipeline
Record M&A backlog entering Q4 with increasing deal quality and average fees per transaction.
Q4 Guidance
Net interest income expected to grow 2.5% to 3% in Q4, with NIM targeting 3.23% to 3.26%.
In short
Citizens Financial Group reported $636 million net income and $1.41 diluted EPS for Q3 2026, driven by net interest margin expansion and private bank growth.
