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Citizens Financial Group awards $75,000 in scholarships to children of colleagues

CFG Scholar program has assisted more than 225 students since 2004

Providence, R.I.   (September 15, 2009) - Citizens Financial Group today announced that the children of 25 colleagues from Citizens Bank and Charter One have been awarded $75,000 in scholarships for their undergraduate studies through the CFG Scholars program. 

The students are the latest of more than 225 children of colleagues who have been recognized by the program, which has awarded nearly $1.85 million in scholarships since 2004.

“The CFG Scholars program is both an investment in the future and a reflection of our commitment to our colleagues,” said Ned Handy, President, Citizens Bank, Rhode Island. “With the continued increase in the cost of a sending a student to college, we are pleased that as an organization we are able to assist our colleagues and their kids in financing their educational experience.”

Students from Rhode Island who received $3,000 scholarships for this academic year are Michael Englert from Warwick, Rhode Island and James Morgan from West Warwick, Rhode Island.

This year’s group of CFG Scholars displayed a very strong academic record, achieving a collective grade point average of 3.94. Just as significantly, more than 60 percent of last year’s CFG Scholars have been awarded renewals as a result of continuing to achieve exemplary academic performance in school.

Program applicants must be dependent children of full-time or part-time Citizens Financial Group employees in good standing with a minimum of one year of service. They must be age 23 or younger to be enrolled (or plan to enroll) in a full-time, undergraduate course of study at an accredited two- or four-year college, university or vocational school. Students may be eligible to renew their scholarship for their remaining years of eligibility.

An independent organization administers the program and selects scholarship winners based on a specific set of academic, financial and community service requirements.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is a $153 billion commercial bank holding company. It is headquartered in Providence, R.I., and, through its subsidiaries, has 1,480 branches, approximately 3,600 ATMs and approximately 23,000 employees. Its two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. It is one of the 10 largest commercial banking companies in the United States ranked by assets as of June 30, 2009. CFG is owned by RBS (The Royal Bank of Scotland Group plc).