Citigroup has sold its subsidiaries in Russia to Renaissance Capital, thus completing its exit from the Russian market.

The American banking group Citigroup has announced the sale of its former Russian subsidiary to Renaissance Capital, a transaction already approved by regulatory authorities. This marks Citi's complete exit from the Russian market, a process that has been analyzed for several years in the context of the extensive sanctions imposed by the US and the European Union.

In the first quarter of 2026, the bank's capital will increase by four billion dollars due to the transfer of risk-weighted assets to the buyer. Although Citi previously reported a loss of 1.6 billion dollars from foreign exchange differences related to Russia, the impact on capital is considered neutral. In August 2022, Citi decided to close its commercial and consumer banking operations in Russia, and recently concluded an agreement with Renaissance Capital to transfer its remaining operations. This sale was authorized by Russian President Vladimir Putin.