Citizens Financial Group rebalanced its portfolio by increasing its stake in Lam Research by 179.3% and acquiring a new $5.37 million position in First Solar, while reducing holdings in Marathon Petroleum and Intuit. Simultaneously, the bank announced plans to close 100-120 in-store branches, aiming to maintain a national footprint of approximately 1,000 locations. Additionally, Citizens Bank confirmed it will terminate its business relationships with private prison operators CoreCivic and The GEO Group.
The bank is terminating financial ties with major detention center operators, citing a business decision amid long-standing pressure from ESG activists.
Read the full storyThe bank plans to shutter up to 120 in-store locations while maintaining a core network of approximately 1,000 branches.
The group boosted its Lam Research stake by 179% and established a new $5.37 million position in First Solar.