Citizens Achieves ‘Outstanding’ Community Reinvestment Act Rating

Citizens Financial Group (NYSE: CFG) announced today that its Citizens Bank, N.A. subsidiary has received the highest possible rating from the Office of the Comptroller of the Currency (OCC) for its most recent performance under the Community Reinvestment Act (CRA). Citizens has consistently achieved an Outstanding rating since its IPO in 2015.

“Citizens is committed to ensuring the communities we serve have access to the resources needed to reach their potential,” said Bruce Van Saun, Chairman and Chief Executive Officer, Citizens Financial Group. “We are pleased that the OCC has recognized our efforts with this rating and remain focused on helping build strong communities across our footprint.”

Significant community achievements during the period which led to Citizens’ “Outstanding” rating include:

• Citizens extended more than $4 billion in Community Development qualified loans and investments to help stabilize and revitalize neighborhoods by supporting affordable housing and community services.
• Citizens loaned more than $3.8 billion to small businesses and to businesses in low- and moderate-income communities.
• Citizens made more than $12 billion in mortgage loans to low- and moderate-income borrowers and to borrowers in low- and moderate-income communities.
• As of December 2021, nearly 35 percent of Citizens branches were readily accessible to residents of low- and moderate-income communities.

Adopted in 1977, the CRA requires federally insured deposit-taking institutions to support the borrowing needs of all the communities where they do business, including low– and moderate–income areas. Banks were rated during the evaluation period from January 2019 to December 2021 for their lending, investments, and service activities. Citizens’ Outstanding rating signifies that the bank is a leader in, ascertaining and helping to meet the credit needs of its entire delineated community, including low- and moderate-income neighborhoods, in a manner consistent with its resources and capabilities.

For more information about Citizens’ community efforts and to view the bank’s most recent ESG report, visit here.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $223.1 billion in assets as of June 30, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,400 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

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