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Citi moving forward with plans to sell Russia units, report says

·1 min read
Citi moving forward with plans to sell Russia units, report says
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Citigroup Inc. CEO Jane Faser said in an interview at the Milken Institute Global Conference that the megabank is moving ahead with the sale of its consumer and commercial banking businesses in Russia. Fraser said the bank is in active discussions, according to a Reuters report of a Bloomberg TV interview with Fraser. Some had worried that the sale had been shelved because of sanctions against Russia. Citigroup has had 3,000 employees in Russia and a total exposure of $9.8 billion, according to