onJuly 21 reported second-quarter net income applicable to common stockholders of$243 million, or 46 cents per share, compared to the year-ago period's$190 million, or 35cents per share.
TheS&P Capital IQ consensus normalized EPS estimate for the recent quarter was44 cents.
TheProvidence, R.I.-based company's second-quarter results include an after-taxrestructuring charge impact of 5 cents per diluted share, largely related toefforts to improve processes and enhance efficiencies as well as rebranding andseparation fromRoyal Bank of Scotland GroupPlc.
Thecompany's total revenue for the quarter was $1.28 billion, up from $1.23billion in the previous quarter and $1.20 billion in the year-ago quarter.Citizens Financial attributed it to strong loan growth and improvement in netinterest margin, as well as growth in service charges and fees and capitalmarkets fees. NIM for the quarter was 2.84%, compared to 2.86% in the previousquarter.
Noninterestexpense in the second quarter was $827 million, compared to $841 million in thesame quarter last year, primarily reflecting a $40 million reduction inrestructuring charges and special items. The quarter's provision for creditlosses was $90 million, compared to $77 million in the year-ago quarter.Meanwhile, net charge-offs were at $65 million, compared to $83 million in theprevious quarter and $78 million in the second quarter of 2015.
Additionally,nonperforming loans and leases were 1.01% of the total portfolio, compared to1.07% in the previous quarter, reflecting improvement in commercial and retailcategories.