Citizens Financial Q2 FY26 net income rises 34.6% to $587 million; net interest margin widens 22 bps to 3.16%

Citizens Financial Group posted net income of $587 million for the quarter ended June 30, 2026, up $151 million year over year; diluted EPS rose $0.38 to $1.30.

Net interest income climbed $194 million to $1.6 billion; net interest margin widened 22 basis points to 3.16%.

Noninterest income increased $52 million to $652 million, led by capital markets and wealth fees; mortgage banking fees fell on lower MSR valuation results.

Noninterest expense rose $75 million to $1.4 billion due to Private Bank and Private Wealth hiring; the efficiency ratio improved to 61.1% from 64.8%.

The company repurchased $225 million of common stock during the quarter, leaving $775 million of remaining authorization capacity as of June 30, 2026.