Citi moves ahead with planned sale of AO Citibank to Renaissance Capital

New York – Citigroup 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 expected to be signed and closed in the first half of 2026 and is subject to the receipt of regulatory approvals for Citi and the satisfaction of other conditions.

The approvals will result in a pre-tax loss on sale in the fourth quarter of 2025, largely related to currency translation adjustment (CTA) losses, which will also remain in accumulated other comprehensive income (AOCI) until closing. The cumulative impact of the 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 common equity tier 1 (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 are set out in Citi’s Form 8-K.

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