Citizens net income doubles as ROTCE rises

Citizens Financial Group Inc. CFG, +1.49% said Wednesday its second-quarter net income rose to $648 million, or $1.46 a share, from $253 million, or 53 cents a share. Underlying earnings rose to $1.46 a share from 55 cents a share. Revenue fell to $1.66 billion from $1.75 billion. Analysts expected the regional bank to earn $1.16 a share on revenue of $1.64 billion. The company's underlying return on total capital employed rose to 17.7% from 6.9% -- a measure that's been a focus of CEO Bruce Van Saun. Shares of Citizens, which were inactive in premarket trading, are up 37.3% so far this year, compared to an increase of 41.8% by the KBW Nasdaq Bank Index kbw.