Citizens Bank, one of the largest banks in the United States, is owned by Citizens Financial Group. The group has been around since 1828 and now employs over 38,000 workers.
But is Citizens Bank black owned? Citizens Bank is not black owned. Citizens Bank is owned by the Citizens Financial Group which is a publicly traded company.
Citizens Group provides retail and commercial banking services for individual consumers, small businesses, middle-market companies, large corporations and institutions.
COMPANY OWNERSHIP
Citizens Financial Group (NYSE: CFG) is the current owner of the citizens bank. Citizens Financial Group had assets of approximately $142.3 billion and stockholders’ equity totaling approximately $9.6 billion as of September 30, 2012.
The Company is engaged in the business of banking and diversified services through its subsidiaries, providing retail and commercial banking; mortgage origination; title insurance; financial planning; retirement-related services; investment management and brokerage services; and consumer lending.
It operates in three segments: Retail Banking, Other Banking and Corporate & Investment Bank (CIB). In addition, it offers a wide range of banking and non-banking products and services to individuals through its branches, ATMs, telephone banking centers and online sites as well as those offered by third parties.
COMPANY OVERVIEW
Group had $134.8 billion in assets and reported 281,000 full-time equivalent employees.Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions.
It has approximately 3,000 ATMs and Citizens Financial Group, Inc. (NYSE: CFG) is one of the nation’s oldest and largest financial services companies. Headquartered in Providence, R.I., Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions.
With $134.8 billion in assets as of September 30, 2012, Citizens is the 12th largest bank holding company in the United States.
On September 6th, 2012, Citizens Bank revamped their website with a new look and feel that they are calling “Small Talk”.
For the past few years, Citizens has been known for their cheeky commercials featuring the fictitious character “Citizen Steve” who provides insights into financial topics. Citizens has decided to take this character and roll out a whole new set of features on their website so that customers can have better access to information about banking.
COMPANY HISTORY
Citizens Financial Group, Inc. is an American bank with offices in Connecticut, Delaware, Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Vermont.
Citizens was a completely owned subsidiary of NatWest Group from 1988 till its initial public offering in 2014. In October 2015, the group sold its final 20.9 percent ownership in the company. And is now owned by the citizens group.
As of September 30, 2012, Citizens Financial Group, Inc. is a bank holding company with headquarters in Providence, Rhode Island. Citizens operates in three business segments: Retail Banking segment provides banking and related services to individual consumers and small businesses through its branch networks in 11 states in the United States
CONCLUSION
Other Banking segment includes consumer loan portfolios purchased from third parties, non-strategic card portfolios sold to third party issuers, insurance services offered to cardholders and certain other banking products provided to commercial clients; and Corporate & Investment Bank segment comprises advising businesses, capital markets, middle-market lending activities and investments through its subsidiaries.
Citizens Group provides retail and commercial banking services for individual consumers, small businesses, middle market companies, large corporations and institutions.
In addition, it offers a wide range of banking and non-banking products and services to individuals through its branches, ATMs, telephone banking centers and online sites as well as those offered by third parties.
Citizens Financial Group had assets of approximately $142.3 billion and stockholders’ equity totaling approximately $9.6 billion as of September 30, 2012.
