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Citizens Financial Group, Inc. ranks No. 2 SBA lender nationwide for the fifth consecutive year
Citizens Bank and Charter One Bank proud to be No. 1 lenders in every state they do businessPROVIDENCE, R.I. (October 3, 2006) - Citizens Financial Group, Inc. (CFG) said it ranks as the No. 2 SBA lender in the country for the fifth consecutive year, reflecting its commitment to helping small businesses grow. CFG’s Citizens Bank and Charter One Bank subsidiaries originated more than 6,800 loans totaling more than $320 million in fiscal year 2006, which ended on Friday, September 29, 2006 for SBA lending.
“We are proud to be recognized again as the No. 2 SBA lender in the nation and the No. 1 lender in the markets we serve. We recognize the vital role small businesses play in the U.S. economy, and Citizens and Charter One are committed to providing them with the specialized products and services that small businesses need to help them grow,” said Lawrence K. Fish, Chairman and CEO of Citizens Financial Group. “Many challenges face small business owners today – the cost of healthcare and fuel combined with an uncertain economy – and our local banking officers work hard to understand the uniqueness of each company.”
Charter One Bank is the No. 1 SBA lender in the Midwest for the second consecutive year. Charter One enhanced its focus on small business lending to better serve the needs of its customers following Citizens Financial Group’s acquisition of the bank in September 2004. Charter One originated more than 2,800 loans totaling more than $136 million in the Midwest in fiscal year 2006.
In New England, Citizens was the No. 1 originator of SBA loans in both number of loans and dollar amount with approximately 2,000 loans totaling more than $90 million. This is the 8th year Citizens has received this honor in the region.
In the Mid-Atlantic region, Citizens Bank is the No. 1 SBA lender again this year in every market it does business, including Philadelphia, Pittsburgh, upstate New York and Delaware. Citizens originated more than 2,000 loans totaling more than $91 million in the region.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is a $164 billion commercial bank holding company. It is headquartered in Providence, R.I., and has more than 1,600 branches, approximately 3,200 ATMs and 26,000 employees. It operates its 13-state branch network in Connecticut, Delaware, Illinois, Indiana, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont, and has non-branch retail and commercial offices in about 40 states. Citizens is the eighth-largest commercial banking company in the United States ranked by deposits and ninth ranked by assets as of March 31, 2006. Citizens is owned by RBS (The Royal Bank of Scotland Group plc).
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