Citizens Financial

Citizens hires JPMorgan Chase exec to lead digital expansion


Donald Felix will join the Rhode Island company in January as head of national banking. He recently was responsible for developing a personal finance management strategy for JPMorgan Chase’s consumer bank.


Charge-offs held in check … for now


Banks have managed to steer around trouble spots in energy, hotel and mall-related credits. But fears of further deterioration, an eviction wave or more job losses are keeping lenders circumspect.


Pandemic has put a premium on speed, Citizens CEO says


The slowdown in branch traffic brought on by the coronavirus outbreak has accelerated consumers’ adoption of online banking and other tech, meaning banks have no time to waste in digitizing their customer-facing applications, says Bruce Van Saun.


2Q preview: Regional banks staring at steep profit declines


While elevated loan-loss provisions are expected to eat into all banks’ earnings, midsize banks could suffer more than their big-bank rivals because they have fewer revenue drivers. Meanwhile, investors will be watching closely for any signs of dividend cuts stemming from the Federal Reserve’s caps on payouts.


Banks say they’re gaining on fintechs during pandemic


In wealth management and consumer lending, banks are starting to win back clients they had been losing to startups.


Guarded optimism from bank execs as economy reopens


Leaders of companies including Citizens, Comerica and Truist offered more upbeat assessments of loan demand and credit quality than they have in recent weeks. But others warned of weakness in key sectors such as energy and real estate, and said forbearance policies may be hiding potential pitfalls.


PPP loan forgiveness, BofA’s cost cutting, Amex’s cloud commitment: Top stories of the week


The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the pandemic.


Smaller branches, more versatile staff: Citizens Bank's new normal


The Rhode Island company's post-pandemic plan also includes returning some overseas call center functions to the U.S. and bringing its office staff back in phases, says CEO Bruce Van Saun.


Banks tore up digital scripts once pandemic hit


U.S. Bancorp, Wells Fargo, WSFS and others were already deeply engaged in digital transformations before the coronavirus crisis led them to pivot — quickly.


Banks’ digital upgrade plans unshaken by coronavirus


Citizens, Regions and others say business investments initiated before the COVID-19 pandemic, including technology improvements and new consumer offerings, are on track.