Citigroup said it had $9.8 billion in domestic and cross-border exposure to Russia as Western nations level sanctions against the country for its invasion of Ukraine.
The figure, which is as of the fourth quarter, includes $5.4 billion in so-called country exposure, or just 0.3% of the company’s total, according to a regulatory filing Monday. The country exposure compares with almost $96 billion for the U.K. and $60 billion for Mexico.
Also included in the $9.8 billion amount are about $1 billion of cash and placements with the Russian central bank and other financial institutions, $1.8 billion of reverse repurchase agreements with various counterparties and $1.6 billion due from Russian entities outside of Russia, according to the filing.
Citi is the only one of the largest U.S. banks to break out its exposure to Russia. The topic took on fresh urgency for major banks Monday with the U.S. government
“Citi continues to monitor the current Russia–Ukraine geopolitical situation and economic conditions and will mitigate its exposures and risks as appropriate,” the New York-based company said in the filing.
The bank said it offers both institutional and consumer banking services in Russia, but is working to exit the consumer business as part of a larger strategy.
Representatives for the company declined to comment beyond the filing.
