SAWT BEIRUT INTERNATIONAL

| 26 February 2024, Monday |

Citigroup flags $5.4 bln exposure to Russian assets

Citigroup Inc (C.N) reported on Monday that its total exposure to Russian assets at the end of December was $5.4 billion, down from $5.5 billion at the end of September.

According to a regulatory filing, the $5.4 billion exposure represents 0.3 percent of the bank’s assets in 2021.

Citigroup has cautioned that increased tensions between the West and Russia as a result of Russia’s invasion of Ukraine might hurt the economy.

“Citi continues to monitor the current geopolitical environment and economic conditions in Russia and Ukraine, and will manage its exposures and risks as necessary,” the bank added.

According to the statement, the bank’s overall third-party exposure in Russia was roughly $8.2 billion as of December 31.

    Source:
  • Reuters