The American Citigroup, which planned to leave Russia, admits the possibility of maintaining a presence in the Russian Federation, but on a smaller scale, FT and Reuters write, citing the group’s CEO Jane Fraser. Citi, which announced plans last year to withdraw from retail banking in the Russian Federation, after the start of the military operation in Ukraine, announced its intention to curtail other areas of Russian business. Russian Citibank has stopped attracting new customers to serve. Asked if Citi would try to keep the license, Frazier said, “We don’t know yet, we haven’t made a decision about how big we’ll be.” However, she added that if there is a presence, then “very small.” The Bank is in the process of selling its retail business in Russia. Citigroup aims to close the deal as quickly as possible, she said. Frazier said she hopes for peace talks with Russia, but Citi is not certain of the outcome at this time. The group could lose about $3 billion if the unfavorable scenario materializes. Source: FINMARKET.RU

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