After the bank's 2014 spinoff from Royal Bank of Scotland, its executives worked to shore up weaknesses. Now they're concentrating on how to close the gap with regional banking peers.

For at least the fifth consecutive quarter, the Providence, Rhode Island, company increased its allowance for credit losses on general office loans, which continue to be a problem area for banks.

The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.

Ex-State Street exec joins Citizens Financial's board, payment software firm Toast will cut workers, Visa rolls out enhanced digital wallet tools and more in the weekly banking news roundup.

The Providence, Rhode Island, company has recruited a head of wealth management advisors and a head of private wealth managers as part of a new strategy to reel in high-net worth clients.

Financial institutions, led by the biggest U.S. banks and regional lenders, have dominated high-grade issuance, making up over 60% of the $149 billion that has priced so far this month.

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

Visa, Mastercard, SAP, Circle and many other financial firms are launching digital card accounts with an emphasis on B2B clients.

Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.

Executives at Citizens Financial Group and community banks such as Seattle Bank and Citizens Bank of Edmond say there are potential use cases for large language models. Yet they have concerns that impersonal service and likely errors could erode customers' faith in their financial institutions.

Regional banks had a rocky time after three banks failed in 2023. Van Saun discusses his strategy for Citizens with Editor-in-Chief Chana Schoenberger.

When the prices of U.S. goods and services soar, the Federal Reserve tends to raise its benchmark interest rate, and commercial banks are pinched in several fundamental parts of their business.

Citizens made waves with its hires of around 50 private banking staff from First Republic. The head of wealth management at Citizens shared what's next.

Firms like Oracle and Billtrust are betting companies with smaller, more remote teams will adopt digital transaction systems to ease the burden of paying their vendors.

Traditional banks are focusing on wealth management services in the next wave of digitization as retail banking returns weaken amid a proliferation of online consumer platforms.

When Citizens Financial Group wanted to streamline its home equity line of credit, the bank turned to its expert in customer experience and analytics, Beth Johnson.