Citi may record devaluations on ruble-denominated assets
ReutersMay 8, 2025 9:47 PM
May 8 (Reuters) - Citigroup C.N said on Thursday it may record devaluation on its Russian ruble-denominated assets in earnings.
Citigroup, which had previously announced it was ending all institutional banking services in Russia, had Russia-related exposures of $2.0 billion and total clients' exposures of $9.0 billion as of the first quarter of 2025, according to the filing.
Its services are only those necessary to fulfill its remaining legal and regulatory obligations, as well as support its employees, the filing added.
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