Citizens Financial Group, Inc. history, profile and corporate video
Citizens Financial Group, Inc. is an American bank headquartered in Providence, Rhode Island, U.S. It was founded in 1828 as the High Street Bank in Providence, Rhode Island.
In 1871, the Rhode Island legislature gave a second charter to establish the Citizens Savings Bank which acquired its parent group to form Citizens Trust Company.
In 1954, the bank acquired The Greenville Trust Company and established Citizens Financial Group as a holding company.
In 1985, Citizens changed its status from a mutual savings bank to a federal stock savings bank.
In 1988, Citizens was acquired by Royal Bank of Scotland Group (RBS).
In 2004, Citizens Financial acquired Charter One Financial, the parent company of Charter One Bank.
In 2013, RBS announced that it would divest all of Citizens Financial Group.
Citizens operated as a wholly-owned subsidiary of RBS between 1988 and 2014 when the bank began trading on the New York Stock Exchange.
The company operates through the following business segments: Personal, Business, Commercial.
Personal
The Personal segment provides banking & credit cards, home loans, student loans & refinancing, and investing & retirement.
Business
The business segment involves banking & credit cards, borrowing & financing, managing cash flow, investments & benefits, healthcare banking, and business resources.
Commercial
The commercial segment implies capital markets, card & payment services, financing, global markets, international solutions, treasury management.
With over 18 000 employees and 1 000 branches in more than 10 states, Citizens Financial Group is considered one of the largest retail banks in the U.S. According to Forbes, it is considered one of the World’s Best Banks and one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and www.citizensbank.com.
**Video published on YouTube by “The NET360“.