The bank plans to reduce its lending to multifamily real estate projects as part of a broader effort to shrink its commercial real estate book, in part to make room for loans to developers who are customers at its new private bank.
Only one bank opened any new branches in the state this year, while several big brands moved to shutter physical locations.
Citizens Bank is setting a $50 billion target to finance both “green” and “social” initiatives and projects by 2030.
The nation’s 23 largest banks passed the Federal Reserve’s so-called stress tests this year, a sign that the nation’s banking system remains resilient despite the recent banking crisis that led to the failure of Silicon Valley Bank, Signature Bank and First Republic Bank.
Citizens Bank scored a significant win in the local battles to capitalize on disruption caused by SVB’s and First Republic’s failures Monday when it announced it had hired about 50 wealth managers who used to work at the latter bank.
Rhode Island-based regional lender Citizens Bank is getting out of the auto loan business next month.
Citizens Bank has launched a deposit account to help its corporate clients acquire carbon offsets to help companies transition to a lower carbon economy and meet environmental, social and governance goals.
Citizens Bank, M&T Bank and First Republic Bank have provided some of the initial funding for a new public-private partnership that will offer low-interest loans to Connecticut small businesses and nonprofit organizations.
The nation’s largest banks have strong capital levels and would be able to continue lending to households and businesses during a severe recession, according to the Federal Reserve’s annual stress test.
Citizens has launched a new product that will let corporate clients give employees on-demand access to their earned pay, the Providence-based bank said in a statement.
Providence-based Citizens Financial Group Inc. plans to acquire another investment bank, the third deal by Citizens’ commercial bank this year.
A new program from Citizens Bank will allow corporate clients to direct their cash reserves toward companies and projects that are expected to create a positive environmental impact, the bank said in a recent statement.
Providence-based Citizens Financial Group Inc. has agreed to acquire New Jersey-based Investors Bancorp Inc. in a deal valued at $3.5 billion.
Providence-based Citizens Bank will expand its East Coast footprint by acquiring 80 branches from HSBC Bank, which plans to exit U.S. retail banking.
Small businesses owners ended 2020 with increased optimism, and most expect to recover in 2021 from the economic challenges brought on by the pandemic, according to recent studies from national banks.
Connecticut will lose dozens of bank branches in the next couple of years as several lenders shutter locations, including supermarket branches made unprofitable by small margin spreads.
Christopher J. Swift, the chairman and CEO of The Hartford Financial Services Group, will join Citizens Bank’s board of directors next year.
More than 60 percent of businesses said in a recent Citizens Bank survey that they expect to stop using cash or paper check payments in the future, adopting real-time payments instead.
