Former Citigroup unit in Russia says it is changing its name to RenCap Bank

Group 1 - Citigroup's former Russian unit, AO Citibank, is rebranding to RenCap Bank following its sale to Renaissance Capital [1] - The sale was approved by Citigroup's board in December 2022 and is expected to result in a pre-tax loss of approximately $1.2 billion [1]