Pause operations: company temporarily curtailing operations while keeping return options open
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Citigroup is a US-American multinational investment bank and financial services corporation headquartered in New York City.
Pause operations: company temporarily curtailing operations while keeping return options open
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Global 500Today AO Citibank is one of the largest in terms of assets and the number of deposits. The bank serves more than 1 million private clients in more than 50 branches and more than 450 ATMs in 11 Russian cities.
The company decided to stop soliciting any new business or clients. The company continue to reduce the remaining operations in Russia and expand the scope of the exit process but cautiously returned to the market for Russian government and corporate bonds and buy Russian debt. Citigroup on Friday, October 14 announced plans to shut down its institutional banking operations in Russia as Vladimir Putin’s assault on Ukraine stretches into its seventh month.