CORRECTED-UPDATE 1-Citigroup exits Russia and impact of previously reported loss expected to be neutral to capital

Reuters02-18

Corrects to say cumulative impact of loss expected to be capital neutral in headline and third paragraph. Removes second paragraph

By Tatiana Bautzer

Feb 18 (Reuters) - Citigroup C.N announced on Wednesday the sale of its former Russian subsidiary to Renaissance Capital. The transaction, already approved by regulators, completes Citi’s full exit from the country.

In the first quarter of 2026, the bank's capital will rise by $4 billion as a result of the transfer of risk-weighted assets to the buyer and other factors. Considering a previously reported $1.6 billion currency loss related to Russia, the cumulative impact of the loss is capital neutral, the bank added in a statement.

(Reporting by Pritam Biswas in Bengaluru and Tatiana Bautzer in New York; Editing by Mrigank Dhaniwala and Toby Chopra)

((Pritam.Biswas@thomsonreuters.com;))

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