Citizens Financial Group (NYSE:$CFG) delivered a positive earnings surprise of 6.3% in 2Q17. Adjusted earnings per share of 68 cents topped the Zacks Consensus Estimate of 64 cents. The figure excludes the impact of after-tax benefit from the sale of a Troubled Debt Restructuring portfolio. The report also improved 12% year-over-year.

Further, the report revealed continued growth in loan balances, which aided higher revenues, was recorded. Eased margin pressure and lower provisions were the positives. Further, lower expenses were another tailwind. Net income was recorded at $348 million, up 17% year-over-year.

Similarly, total revenues for the quarter were $1.44 million, surpassing the Zacks Consensus Estimate of $1.43 million. But, revenues were up 5% year-over-year.

Citizens Financial’s net interest income increased 12% year over year to $1.06 billion. The rise is primarily attributable to average loan growth and improved margin. Additionally, net interest margin expanded 21 basis points (bps) year-over-year to 3.05%.

As of September 30th, allowance for loan and lease losses decrease 1% year-over-year to $1.2 billion. Net charge-offs for the quarter declined 22% year-over-year to $65 million.

All in all, Citizens Financial reveal an overall positive quarter. Future optimism for revenue growth remains high, especially with the bank’s diversified traditional banking platform.

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