About the Company
Headquartered in Providence, Rhode Island, Citizens Financial Group is one of the largest and oldest financial services firms in America. As of 2020, it had 2700 ATMs and about 1,000 branches across the United States. Its operations were located in 11 states, across Massachusetts, New Jersey, Vermont, Rhode Island, Delaware, Michigan, Maine, Ohio, etc.
As of 2018, it had over 18,000 employees and, in 2020, was the 24th largest bank in the United States. Citizens Financial Group was established by High Street Bank in 1871, and within ten years had about 29 branches in Rhode Island. It was then acquired by RBS in 1988 and became its wholly-owned subsidiary.
It then expanded its reach by acquiring 25 companies like Charter One Financial, Inc. for $10,526.9 million, UST Corporation for $1,412 million, Quincy Savings Bank for $147.9, Neworld Bancorp for $152.9, Commonwealth Bancorp, Inc. for $494.5, Port Financial Corp. for $308.4, and so on. In 2004, it acquired the People’s Banks’ Credit Card operations and enabled Citizen to market and issue credit cards. On 24th September 2014, it went public and started trading on the New York Stock Exchange. Its ticker symbol is CFG.
Citizen provides individuals with services and products under categories like home loans, investing & retirement, banking & credit cards, auto loans, and student loans & refinancing. For businesses, its offerings are available under the categories of business resources, managing cash flow, healthcare banking, banking & credit cards, investing & benefits, and borrowing & financing. It also provides commercial banking services and has curated a program called Paycheck Protection Program.
In 2016, the company entered the Fortune 500 list, and over the years, has been proffered several other awards and recognitions. Forbes recognised it as one of the World’s Best Banks and one of the Best-in-State Banks in New York in 2020. In the same year, Global Finance named Citizen one of the Best Treasury & Cash Management Banks. In 2019, its Capital Markets won several awards for M&A Advisory Services.;
|Organisation||Citizens Financial Group Inc|