Citibank closes branches in Moscow and St. Petersburg

Citibank is closing branches on Moscow’s Arbat and Nevsky Prospekt in St. Petersburg, reported press service.

“We inform you about the planned closure of the Arbat branch, including ATM services, on December 15, 2023,” the message says. At the same time, branches in St. Petersburg will be closed.

At the beginning of September, the credit institution announced about the closure of its ATM network until the end of 2023. The bank reminded that customers can still make transactions through the Citibank Mobile website and application.

In the summer of 2022, Citigroup announced its intention to completely stop servicing retail and corporate clients from the small and medium-sized business segment in Russia. The group also did not rule out the sale of loan portfolios. It was reported that it would affect about 2,300 employees from 15 branches, including company branches, as well as retail services such as consumer loans, credit cards, deposits, brokerage and depository services for individuals. The process will take place in accordance with regulatory requirements and obligations to clients, partners and employees.

At the same time, Citigroup announced plans to curtail its retail business in Russia and 13 other countries back in April 2021. After the outbreak of hostilities in Ukraine, Citigroup, like many foreign banks, announced a likely departure from Russia and the closure of not only the retail business, but and business department of commercial banking.