Citigroup's (C) Reserves & Charges of $3.78B to Hurt Q4 Results

Citigroup Inc. (C) disclosed certain items impacting its pre-tax fourth-quarter 2023 results to enhance transparency. Citigroup recorded combined charges and reserves of $3.78 billion, which is expected to affect its fourth-quarter earnings.C added $1.3 billion to its reserves to protect itself against risk exposures in Argentina and Russia. The currency devaluation and geopolitical risks in Argentina are likely to have affected its ability to sustain external debt service. C, therefore, set aside $720 mill ...