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Citigroup to take billions in charges on restructuring, Argentina and Russia

Citigroup has launched a major restructuring under chief executive Jane Fraser

Citigroup said it had taken a hit from its exposure to Russia and Argentina
Citigroup said it had taken a hit from its exposure to Russia and Argentina Photo: Bloomberg via Getty Images

Citigroup said on 10 January after US market close that it is taking one-time charges related to exposures to geopolitical and economic risks in Argentina and Russia as well as the bank’s own restructuring plans.

These charges affect its fourth quarter results, due to be reported on 12 January. The stock fell about 2% in after-hours trading on 10 January.

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