Citibank is shutting down its ATM network in Russia – Kommersant
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The Russian “daughter” of Citigroup Inc announced the collapse of the ATM network. Operations are offered to be performed in a mobile bank.
“Dear customers, we would like to inform you about the beginning of the process of terminating service at AO Citibank ATMs. All ATMs will be dismantled by the end of 2023,” follows from a message to bank customers.
Citigroup Inc announced it was winding down its retail and Russian SME business in August last year. This should have resulted in a write-off of $170 million. At the same time, the size of the group’s assets in Russia was about $10 billion. At the end of the year, Citibank’s consumer loan portfolio redeemed “Uralsib”, continuing to service its loans.
Citibank was included in the list of 45 banks whose capital transactions were limited in accordance with the decree of President Vladimir Putin. Speaking about the Citibank-Uralsib deal, Elvira Nabiullina, the head of the Central Bank, said that the presidential decree only applies to transactions with shares, and that banks can sell loan portfolios without special permission.
On February 1, 2022, Citibank’s loan portfolio was RUB 188 billion. In addition, this bank ranked 23rd in Russia in terms of capital with 70.7 billion rubles.
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