Core Viewpoint - Citigroup's board has approved the sale of its remaining business in Russia, AO Citibank, to Renaissance Capital, resulting in a pre-tax loss of approximately $1.2 billion for the current quarter [1][3]. Group 1: Transaction Details - The transaction is expected to be signed and completed in the first half of 2026, as per Citigroup's filing with the SEC [1][3]. - The losses associated with the sale may vary further due to foreign exchange fluctuations [4]. Group 2: Business Strategy - Starting from the fourth quarter of 2025, Citigroup will classify its remaining business in Russia as "held for sale" [5]. - Last month, the Russian government approved Renaissance Capital's acquisition of Citigroup's operations in Russia [6]. - In August 2022, Citigroup announced its ongoing efforts to reduce its consumer banking and local commercial banking operations in Russia to mitigate business risks [6].
花旗董事会批准出售俄罗斯剩余业务,将计入税前亏损约12亿美元