Citi Statement on AO Citibank Sale Approvals

Citi confirmed today that it has obtained the internal approvals required to proceed with the planned sale of AO Citibank, which conducts Citi’s remaining operations in Russia, to Renaissance Capital (RenCap). The sale is anticipated to be signed and closed in the first half of 2026 and is subject to receipt of regulatory approvals for Citi and satisfaction of other conditions. 

The approvals result in a pre-tax loss on sale for the fourth quarter 2025, largely related to the currency translation adjustment (CTA) losses that will also remain in Accumulated Other Comprehensive Income (AOCI) until closing. The cumulative impact of CTA recorded in the loss on sale during the fourth quarter, and the amounts released from AOCI upon closing, would be capital neutral to Citi’s CET1 Capital. The loss on sale is subject to further changes, including as a result of foreign exchange movements. The overall divestiture of the remaining business operations is expected to provide a benefit to Citi’s CET1 Capital, primarily driven by the deconsolidation of associated risk-weighted assets. Full details can be found in the Form 8-K.

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