Citigroup recorded a litany of one-time expenses and bills within the fourth quarter associated to its exposures to Argentina’s debt market, Russia’s political instability and the financial institution’s personal restructuring plan.
Citi mentioned Wednesday in a regulatory submitting that it put aside $1.3 billion in reserves to account for dangers in Argentina and Russia. The latest devaluation of the Argentine peso additionally worn out about $880 million in income from the financial institution’s providers, markets and banking division, the financial institution mentioned.
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