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Income Statement Balance Sheet & Credit Quality Financial Metrics Citizens Financial Group , Inc. Reports Second Quarter 2021 Net Income of $ 648 million and EPS of $ 1.44 Underlying Net Income of $ 656 million and EPS of $ 1.46 * Key Financial Data ( $ s in millions ) Total revenue Pre - provision profit Underlying pre - provision profit Provision for credit losses Net income Underlying net income ( $ s in billions ) Period end loans and leases Average loans and leases Period - end deposits Average deposits Period - end loans - to - deposit ratio ACL to loans ratio ACL to loans ratio , ex . PPP NCO ratio Diluted EPS Underlying EPS ROTCE Underlying ROTCE Net interest margin , FTE * Citizens Financial Group , Inc.M Efficiency ratio Underlying efficiency ratio CET1 TBV / Share 2021 1021 2020 $ 1,609 $ 1,659 $ 1,750 618 641 771 629 661 790 464 ( 213 ) ( 140 ) 648 611 253 656 626 263 $ 122.6 $ 122.2 $ 125.7 123.5 122.8 128.8 150.6 151.3 143.6 150.3 146.6 141.6 81.4 % 80.7 % 87.5 % 1.94 2.01 2.03 2.09 1.70 1.75 0.25 % 0.52 % 0.46 % $ 1.44 $ 1.37 $ 0.53 1.46 1.41 0.55 17.5 % 17.2 % 6.6 % 17.7 6.9 17.6 2.76 2.88 2.72 62 61 56 61 60 55 10.3 % 10.1 % 9.6 % $ 33.95 $ 32.79 $ 32.13 Comments from Chairman and CEO Bruce Van Saun Second Quarter 2021 Highlights Underlying ROTCE of 17.7 % and underlying EPS of $ 1.46 reflects diversity of fee businesses and excellent credit results Underlying PPNR of $ 629 million reflects : Lower Mortgage revenue on further tightening of gain on sale margins despite strong origination levels Record results in Capital Markets and Wealth given the benefit of investments and acquisitions to broaden our capabilities Net interest income up 1 % , with interest earning asset growth offsetting modest margin decline Interest - bearing deposit costs of 16 bps , down 4 bps QoQ Well - controlled expenses , down 2 % QoQ Credit provision benefit of $ 213 million driven by macroeconomic improvement and strong credit performance Average loans up 1 % QOQ Period - end LDR of 81.4 % Strong capital position with CET1 at 10.3 % TBV / share of $ 33.95 , up 6 % YoY " We continued to demonstrate the strength and diversity of our business model in the second quarter , as a drop in Mortgage revenue was partially offset by record results in Capital Markets and Wealth , " said Chairman and CEO Bruce Van Saun . " We saw modest loan growth during the quarter , and expect that to accelerate in the second half as the economy continues to grow and excess liquidity is redeployed . We are executing well on our strategic initiatives and have commenced work on a TOP 7 program , with details to be announced later this year . " Citizens also announced today that its board of directors declared a third quarter 2021 common stock dividend of $ 0.39 per share . The dividend is payable on August 13 , 2021 to shareholders of record at the close of business on July 30 , 2021 . * References in this release to " Underlying " results exclude notable items and are non - GAAP Financial Measures . For more details on non - GAAP Financial Measures see page 13 in this release . References in this release to balance sheet items are on an average basis and loans exclude loans held for sale ( " LHFS " ) unless otherwise noted . References to net interest margin are on a fully taxable equivalent ( " FTE " ) basis and all references to earnings per share represent fully diluted per common share . References to consolidated and / or commercial loans , loan growth , nonaccrual loans and allowance for loan losses include leases . The " Company " refers to Citizens . Current reporting - period regulatory capital ratios are preliminary . Select totals may not sum due to rounding .