NEW YORK, December 29, 2025, 18:30 ET — After-hours
- Citigroup shares closed down 1.9% at $118.13, with the stock little changed after the bell. Investing
- Citi disclosed a plan to sell its remaining Russia unit, expecting a roughly $1.2 billion pre-tax loss in the fourth quarter. SEC
- Traders are watching this week’s Fed minutes and jobless claims ahead of Citi’s Jan. 14 earnings. Reuters
Citigroup shares fell Monday, ending down 1.9% at $118.13, after the bank disclosed it expects a roughly $1.2 billion pre-tax loss tied to its exit from Russia. Investing
The update matters now because it lands in the current quarter’s results, weeks before Citi reports, and it puts a price tag on a long-running clean-up effort that investors have watched closely. SEC
In an SEC filing, Citi said its board approved a plan to sell AO Citibank, which conducts its remaining operations in Russia. SEC
Citi said it will report the Russia business as “held for sale” in the fourth quarter — an accounting label used when a company plans to dispose of an asset — and anticipates signing and closing the deal in the first half of 2026. SEC
The bank said the “held for sale” treatment would produce an estimated $1.2 billion pre-tax loss in the fourth quarter, or about $1.1 billion after tax, recorded as a reduction of “Other Revenue” through a valuation allowance. SEC
Citi also said the cumulative impact of currency translation losses recorded in the quarter, and amounts released upon closing, would be capital-neutral to its common equity tier 1 ratio (CET1, a key bank capital measure). SEC
The filing came after Russia last month cleared Renaissance Capital to buy what remains of Citibank’s Russian operations, Reuters reported. Reuters
Citi’s decline tracked a broader retreat in bank stocks and a softer Wall Street session, with the S&P 500 down 0.35% and the Nasdaq off 0.5%, Reuters said. Reuters
Peers also finished lower, including Bank of America, Wells Fargo and Citigroup, as investors trimmed exposure late in the year. MarketWatch
Citi has been one of the stronger large-cap bank performers in 2025 on optimism around regulatory remediation, and the stock is up nearly 68% year-to-date, Reuters reported. Reuters
Outside banks, risk appetite was shaped by profit-taking in big technology names. “It’ll turn out to be a buying opportunity,” Hank Smith, head of investment strategy at Haverford Trust, said of the broader tech pullback. Reuters
Next up, investors will look for any additional detail on timing, regulatory approvals and foreign-exchange sensitivity around the Russia sale, which Citi said could still change the ultimate loss amount. SEC
Citi is scheduled to publish fourth-quarter results at about 8 a.m. ET on Jan. 14, with a webcast at about 11 a.m. ET, according to a company press release. Citi
Macro catalysts also loom: minutes from the Federal Reserve’s previous meeting and weekly jobless claims are on this week’s calendar, Reuters said — key inputs for rate expectations that can swing bank shares. Reuters
