Citigroup flags $5.4 billion exposure to Russian assets
[ad_1]
Outside a Citibank Moscow branch, Russia operated by Citigroup Inc., a Citilogo is on display.
Andrey Rudakov | Bloomberg | Getty Images
Citigroup said on Monday its total exposure to Russian assets was $5.4 billion at the end of December, compared with $5.5 billion at the end of September.
According to regulatory filings, the exposure of $5.4 billion represents 0.3% bank assets by 2021.
Citigroup also warns of potential damage from escalated tensions with Russia after the invasion of Ukraine.
“Citi continues to monitor the current Russia–Ukraine geopolitical situation and economic conditions and will mitigate its exposures and risks as appropriate,” the bank said.
It stated that the bank had nearly $8.2 trillion of third party exposure to Russia as of Dec. 31.
[ad_2]
