Citigroup Inc. (NYSE:C) is one of the Best Stocks to Buy and Hold For the Next 3 Years. On February 18, Citigroup Inc. (NYSE:C) announced the completion and closing of the sale of its Russian operations. The company sold its AO Citibank, which was its former Russian subsidiary, to Renaissance Capital.
Management noted that with the close of this sale, all remaining businesses and around 800 employees will be transferred to Renaissance Capital once the transaction goes through regulatory approvals. Citigroup Inc. (NYSE:C) had begun winding up its Russian operations in 2021. The process involved multiple approvals, including those from Russian authorities.
Management highlighted that the sale will add around $4 billion in Q1 2026 to its Common Equity Tier 1 capital, as it removes risk-weighted assets from its balance sheet, cuts disallowed deferred tax assets, and also releases $1.6 billion as a currency translation adjustment.
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Citigroup Inc. (NYSE:C) is a global financial services giant offering a wide range of products through segments like Services, Markets, Banking, Wealth, and U.S. Personal Banking.
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