Citizens profits jump for quarter, 2014
The parent company of Citizens Bank, which operates about 30 branches in Central Massachusetts, saw a 4-percent jump in profits in the fourth quarter of 2014, finishing the year with an 18-percent surge in profits, at about $790 million, according to a statement Monday from Citizens Financial, based in Providence, R.I.
Citizens earned $197 million, or 36 cents per share in the quarter, compared with $189 million, or 34 cents per share, in the third quarter. That was based on revenue of $1.2 billion, which rose 2 percent, the bank said.
For the year, Citizens earned $790 million, up from $671 million in 2013. Revenue for the year totaled $4.98 billion, up from $4.69 billion.
Citizens also reported a 3-percent growth in deposits, and a similar jump in its loan and lease portfolio.
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