Citibank will stop opening savings and savings accounts from November 22
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Applications for opening savings and savings accounts with Citibank will be closed on 22 November. This is reported on website credit organization. Citibank’s parent company, Citigroup, is winding down business in Russia.
On October 27, it became known that Citibank’s consumer loans are planned hand over to Uralsib Bank by the end of the year, credit cards – in the first half of 2023.
Citigroup announced plans to close the local retail business back in April 2021. In August, the conglomerate announced that it would cease retail operations in the country and wind down its SME business. However, by mid-autumn, a complete withdrawal turned out to be impossible: Russian President Vladimir Putin banned foreign banks from selling subsidiaries in the country until the end of the year. The list of companies covered by the decree also included Citigroup. In October, the US bank announced that it would stop providing virtually all services to customers in Russia by early 2023.
Read more about the departure of Citibank – in the material “Kommersant” Citibank sold loans.
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