SIGNIFICANT DISPOSALS AND OTHER BUSINESS EXITS |
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| Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SIGNIFICANT DISPOSALS AND OTHER BUSINESS EXITS | SIGNIFICANT DISPOSALS AND OTHER BUSINESS EXITS As of June 30, 2026, with the exception of Banamex, Citi has largely completed its exits from the 14 international consumer markets identified as part of its strategic refresh, all of which are reported within All Other—Legacy Franchises. As discussed below, this included the completion of the sale of the Poland consumer banking business during the second quarter of 2026. In addition, Citi continued to make substantial progress on the divestiture of Banamex, including the sale of 22.6% of Banamex’s outstanding common stock during the second quarter of 2026. Of the 13 exits, Citi has disposed of 10 consumer banking businesses through sales and exited two consumer markets through wind-down activities and loan portfolio dispositions, and has largely completed the wind-down of its consumer banking operations in Korea. For additional information, see Note 2 to the Consolidated Financial Statements in Citi’s 2025 Form 10-K. Significant Disposals During 2026, the following two transactions were identified as significant disposals. The losses from the sales represent life-to-date amounts, which may be updated to reflect post-closing purchase price adjustments. As of June 30, 2026, there were no remaining assets or liabilities included on Citi’s Consolidated Balance Sheet related to the significant disposals. Sale of Poland Consumer Banking Business On June 12, 2026, Citi completed the sale of its Poland consumer banking business. The business had approximately $5.9 billion in assets, including $1.2 billion of Cash and due from banks, $2.2 billion of Deposits with banks, $1.6 billion of loans (net of allowance of $24 million) and $0.8 billion of Trading account assets. The total amount of liabilities was $5.7 billion, primarily consisting of deposits. Since 2025, on a cumulative basis, the sale resulted in a pretax loss on sale of approximately $160 million ($125 million after-tax), recorded in Other revenue. Excluding the pretax loss on sale, the Income before taxes for the Poland consumer banking business was as follows:
Sale of AO Citibank On February 18, 2026, Citi signed and closed the sale of AO Citibank to Renaissance Capital (RenCap). AO Citibank conducted Citi’s remaining operations in Russia, which were historically reported within the Services, Markets and Banking reportable segments as well as within All Other. At the time of sale, AO Citibank had approximately $13.5 billion in assets, including $11.4 billion of Other assets and $2.0 billion of Cash and deposits with banks. The total amount of liabilities was $13.7 billion, primarily consisting of deposits, including $1.7 billion in intercompany deposits, which is now owed to Citi by RenCap. The sale resulted in a pretax loss on sale of approximately $1.2 billion ($1.1 billion after-tax) recorded in Other revenue, primarily reflected in the fourth quarter of 2025. Excluding the pretax loss on sale, the Income before taxes for AO Citibank was as follows:
Citi did not have any other significant disposals as of June 30, 2026. For a description and the financial impact of the Company’s significant disposal transactions in prior periods, see Note 2 to the Consolidated Financial Statements in Citi’s 2025 Form 10-K. Other Business Exits Other significant transactions during 2026 included the following: Sale of 24% Equity Stake in Banamex (22.6% Closed) On April 29, 2026, Citi completed the sale of 22.6% of Banamex’s outstanding common stock to several prominent institutional investors and family offices as part of the investors’ commitment to acquire a 24% stake (approximately 470 million shares) in Banamex at a fixed purchase price of approximately MXN 43 billion, subject to purchase price adjustments. The sale of the remaining 1.4% (of the 24% commitment) is expected to be completed in the third quarter of 2026, and is subject to customary closing conditions. As a result of the closing of the 22.6% Banamex sale, Citi received total cash consideration of approximately $2.3 billion. Citi’s total stockholders’ equity increased by approximately $1.5 billion, due to (i) the reclassification of an approximate $2.0 billion CTA loss associated with Banamex from AOCI (within Total Citigroup stockholders’ equity) to Noncontrolling interests (NCI), partially offset by (ii) a net loss on sale of approximately $0.5 billion recorded primarily in Additional paid-in capital within Total Citigroup stockholders’ equity, which reflects the difference between the cash consideration received and 22.6% of the Banamex U.S. GAAP book value. The following table presents the effect of changes in Citi’s ownership interest in Banamex on Citi’s equity:
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