Citizens Financial Group, Inc. reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2016. For the quarter, total interest income was $1,122 million against $986 million for the same period of last year. Net interest income was $986 million against $870 million for the same period of last year. Total Revenue was $1,363 million against $1,232 million for the same period of last year. Income before income tax expense was $414 million against $331 million for the same period of last year. Net income available to common stockholders was $282 million against $221 million for the same period of last year. Net income available to common stockholders, adjusted was $282 million against $221 million for the same period of last year. Total revenue, adjusted (non-GAAP) was $1,363 million against $1,232 million for the same period of last year. Income before income tax expense, adjusted (non-GAAP) was $414 million against $331 million for the same period of last year. Net income available to common stockholders, adjusted (non-GAAP) was $282 million against $221 million for the same period of last year. Tangible book value per common share was $25.69 24.63 for the same period of last year. Diluted earnings per share were $0.55 against $0.42 for the same period of last year. Adjusted diluted earnings per share were $0.55 against $0.42 for the same period of last year. Return on average common equity was 5.7% against 4.5% for the same period of last year. Return on average tangible common equity 8.4% against 6.7% for the same period of last year. Adjusted return on average tangible common equity was 8.4% against 6.7% for the same period of last year. Return on average total assets was 0.8% against 0.6% for the same period of last year. Return on average total tangible assets was 0.8% against 0.7% for the same period of last year.

For the year, total interest income was $4,266 million against $3,854 million for the same period of last year. Net interest income was $3,758 million against $3,402 million for the same period of last year. Total revenue was $5,255 million against $4,824 million for the same period of last year. Income before income tax expense was $1,534 million against $1,263 million for the same period of last year. Net income available to common stockholders was $1,031 million against $833 million for the same period of last year. Net income available to common stockholders, adjusted was $1,012 million against $864 million for the same period of last year. Total revenue, adjusted (non-GAAP) was $5,188 million against $4,824 million for the same period of last year. Income before income tax expense, adjusted (non-GAAP) was $1,503 million against $1,313 million for the same period of last year. Net income available to common stockholders, adjusted (non-GAAP) was $1,012 million against $864 million for the same period of last year. Tangible book value per common share was $25.69 against $24.63 for the same period of last year. Diluted earnings per share were $1.97 against $1.55 for the same period of last year. Adjusted diluted earnings per share were $1.93 against $1.61 for the same period of last year. Return on average common equity was 5.2% against 4.3% for the same period of last year. Return on average tangible common equity was 7.7% against 6.4% for the same period of last year. Adjusted return on average tangible common equity was 7.6% against 6.7% for the same period of last year. Return on average total assets was 0.7% against 0.6% for the same period of last year. Return on average total tangible assets was 0.8% against 0.7% for the same period of last year.

For the quarter, net charge-offs were $104 million increased $21 million from third quarter 2016 levels, driven by a $14 million reduction in recoveries of prior-period charge-offs and the $7 million impact of a one-time methodology change in the auto portfolio. Compared with fourth quarter 2015, net charge-offs increased $27 million, driven by a $19 million increase in commercial, largely tied to commodities-related credits, and the $7 million impact of the methodology change in auto. Fourth quarter 2016 net charge-offs of 39 basis points of average loans and leases compares with 32 basis points in third quarter 2016 and 31 basis points in fourth quarter 2015.