Citigroup faces over $1 billion loss from exiting Russia
Citigroup faces over $1 billion loss from exiting Russia
- Citigroup plans to exit its operations in Russia, expecting over $1 billion in losses from the sale.
- The bank's Russian unit's assets were reported to be around $10 billion at the time of the exit announcement.
- The transaction with Renaissance Capital is expected to be finalized in the first half of 2026, reflecting a significant loss during a turbulent geopolitical period.
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