Apr
23

Citizens CEO Bruce Van Saun On The Biggest U.S. Bank IPO And Why He Won’t Try Timing Fed Rate Hikes

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To hear CEO Bruce Van Saun tell it, Citizens Financial is a bit like a duck on the surface of a lake these days: calm above the water line, furiously paddling to make progress below.

The Providence, Rhode Island-based bank reported first-quarter earnings Wednesday that were up 26% from a year ago and narrowly better than analyst expectations, but the real payoff from the bank’s makeover will come once interest rates start rising.

“Under the surface, we’re growing portfolios that should boost asset yields,” Van Saun tells Forbes, pointing to an emphasis on mortgages over home equity lines of credit, an expansion into prime auto loans rather than just super-prime and targeting commercial real estate and leveraged loan opportunities…

Citizens CEO Bruce Van Saun On The Biggest U.S. Bank IPO And Why He Won’t Try Timing Fed Rate Hikes

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