Uralsib Bank bought Citibank’s portfolio of consumer loans
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Citibank, a subsidiary of the American financial conglomerate Citigroup, has sold Citibank’s portfolio of consumer loans to Uralsib. This is stated in a message on the website of the parent company Citigroup. The deal was made as part of the withdrawal of Citigroup from the Russian market due to the military operation in Ukraine.
“Citi today announced that AO Citibank, Citi’s subsidiary in Russia, has agreed to sell a portfolio of ruble installment loans to Russian commercial bank Uralsib. Citi also agreed to transfer to Uralsib a portfolio of ruble-denominated credit card balances, subject to customer consent. message.
Sources told about the possible transfer of the Citibank loan portfolio to Uralsib RBC. On February 1, 2022, Citibank’s loan portfolio was RUB 188 billion. Then he was in 23rd place in the country in terms of capital with 70.7 billion rubles.
Citigroup announced it was winding down its retail and Russian SME business on 25 August. The size of the group’s assets in Russia was about $10 billion.
Read more in the publication “Kommersant” “Citi is winding down”.
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