Citigroup's board of directors has approved the sale of AO Citibank, one of the bank's last major assets in Russia. Within the framework of the deal, the assets are intended to be acquired by Russian investors, and the sale process is expected to be completed in the first half of 2026. This decision is part of the bank's strategy to fully exit the Russian market.
The editorial reports that Citigroup has announced it will record a loss of approximately $1.2 billion in connection with this sale. The loss will primarily be related to currency exchange rates and the derecognition of assets and will be reflected in the financial statements for the fourth quarter of 2025.
The company states that the transaction will not have a significant impact on Citigroup's overall capital position. Bank management emphasizes that this step aims to reduce international risks and optimize global operations.