Citigroup Inc.
Citigroup Announces Plan to Sell Remaining Russian Operations
Summary
On December 29, 2025, Citigroup Inc. announced its decision to sell its remaining operations in Russia, AO Citibank, through its Board of Directors. The company plans to report this business as 'held for sale' starting from the fourth quarter of 2025, with the sale expected to close in the first half of 2026. This strategic move is anticipated to result in a pre-tax loss on sale of approximately $1.2 billion for the fourth quarter, subject to changes due to foreign exchange movements.
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About Citigroup Inc.
Citigroup Inc. is a leading global financial services corporation, providing a broad array of financial products and services to consumers, corporations, governments, and institutions. As a diversified financial institution, Citigroup's primary function is to offer retail banking, commercial banking, investment banking, and wealth management services. The company plays a significant role in sectors such as consumer banking, treasury and trade solutions, and securities services, making it a pivotal player in the financial services industry. Headquartered in New York City, Citigroup is one of the world's largest banks by assets. It operates in over 160 countries and jurisdictions, underscoring its substantial international presence. The firm's impact is further amplified through its global reach in capital markets and advisory services, helping to facilitate trade and investment on a worldwide scale. Citigroup's diversified operations and extensive global network position it as a key contributor to financial market infrastructures and economic development.
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