Citi Gains Approvals To Sell AO Citibank Russia Operations To Renaissance Capital
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Citi has received internal approvals to proceed with the sale of AO Citibank, its remaining operations in Russia, to Renaissance Capital. The transaction is expected to be finalized in the first half of 2026, pending regulatory approvals. This sale will result in a pre-tax loss for Citi in Q4 2025, primarily due to currency translation adjustments, but is anticipated to benefit Citi's CET1 Capital by deconsolidating associated risk-weighted assets.
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