Uralsib Bank is interested in buying the Russian assets of the subsidiary of the American Citigroup, writes RBC, citing sources. On the eve it became known that the financial conglomerate will reduce the retail business in Russia.
One of the publication’s sources specified that Uralsib is considering buying only the retail loan portfolio, and not the entire bank. A representative of Citibank (the Russian subsidiary of Citigroup) did not comment on this.
Citigroup will completely stop its banking and retail client operations in Russia, the company announced on August 25. The financial entity decided to reduce its presence in the country in 2021.
The process will begin this quarter: the group will cut more than 2,000 employees and close 15 branches. Total losses from the termination of Citigroup’s business in the country are estimated at $170 million.
According to banki.ru, on February 1, the Russian Citibank ranked 19th in the country in terms of assets (717.2 billion rubles) and 27th in terms of capital (56.9 billion rubles). On the same date, the bank’s loan portfolio amounted to 188 billion rubles. The bank specializes in unsecured loans and credit card issuance.
Uralsib’s assets amount to 609.8 billion rubles, according to this indicator the bank ranked 24th in Russia, in terms of capital it was in 23rd place (70.7 billion rubles as of February 1). At the end of 2021, 81.1% of the bank’s shares belonged to Lyudmila Kogan, widow of businessman Vladimir Kogan. The Supervisory Board is headed by her son Yevgeny Kogan.
Author:
anastasia mariana
Source: RB
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