Finance
Citigroup exits Russia and impact of previously reported loss expected to be neutral to capital
Published by Global Banking & Finance Review®
Posted on February 18, 2026
1 min readLast updated: February 18, 2026
Home > Finance > Citigroup exits Russia and impact of previously reported loss expected to be neutral to capital
Quick Summary
Citigroup exits Russia by selling AO Citibank to Renaissance Capital, marking a strategic move in the banking sector.
Citigroup exits Russia and impact of previously reported loss expected to be neutral to capital
(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 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)
Key Takeaways
- •Citigroup has sold its Russian subsidiary, AO Citibank.
- •The sale was made to Renaissance Capital.
- •This marks Citigroup's complete exit from Russia.
- •The transaction was announced on February 18.
- •The move is part of Citigroup's broader strategy.
Frequently Asked Questions about Citigroup exits Russia and impact of previously reported loss expected to be neutral to capital
1What is a subsidiary?
A subsidiary is a company that is completely or partially owned by another company, known as the parent company. The parent company typically has a controlling interest in the subsidiary.
2What is a financial institution?
A financial institution is an organization that provides financial services, such as banks, credit unions, insurance companies, and investment firms. They facilitate transactions, savings, and investments.
3What is a corporate strategy?
Corporate strategy refers to the overall plan and direction of a company, focusing on long-term goals, resource allocation, and competitive positioning in the market.
