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Dec 30, 2025 8:00 AM

Citi To Sell AO Citibank, Take $1.2 Billion Loss In Russia Exit

Citigroup Inc. (NYSE:C) said Monday its board has approved a plan to sell AO Citibank, marking the final step in exiting the bank’s remaining operations in Russia.

AO Citibank is currently reported within Citi’s Services, Markets, Banking, and All Other—Legacy Franchises segments.

Beginning in the fourth quarter of 2025, Citi will classify the business as held for sale, with the transaction expected to be signed and completed in the first half of 2026.

Also Read: Citi’s Push For Efficiency: Bank Inks Strategic Data Deal With LSEG

Expected Fourth-Quarter Loss

Citi expects to record ...