Unknown Analyst

All right. Thanks, everyone, for joining. Up next, we have Citizens Financial Group, and we're delighted to have with us today, Brendan Coughlin, President of Citizens.

Brendan Coughlin
President and Head of Consumer, Private Banking & Wealth

Thanks for having me. Happy to be here.

Unknown Analyst

Thanks so much for being here. Let's -- Brendan, let's start with the consumer bank. It's undergone quite a transition and the transformation over the last 10 years. And I think you have the stats to drive a lot of this transformation. Tell us about that journey. What did it take? And how do you feel about the overall positioning of the consumer bank today?

Brendan Coughlin
President and Head of Consumer, Private Banking & Wealth

Well, the consumer bank is really the bedrock of Citizens Financial Group. It's transformed in its own right, but it also is an enabler for a lot of the other things that we're doing, whether it be the private bank or some of the things in the commercial organization. But within the consumer bank itself, if you rewind all the way back to when we took the bank public in 2014, it was really a bank that was made up of a whole bunch of threads and it wasn't well integrated and the profile of it was pretty subpar, high-cost deposits, low-priced loans, pretty thin margin business. So we've taken on a transformation journey over the last decade to really position it to look more like peers and then have outsized momentum in some areas than peers.

So, kind of breaking