Priya PatelCitigroup has announced that it will be taking charges on Argentina, Russia, and its own restructuring plan, which will impact its profit. The bank has set aside $1.3 billion in reserves to account for risks in Argentina and Russia. Additionally, the recent devaluation of the Argentine peso has caused the bank to lose about $880 million in revenue. Citigroup’s fourth quarter results will be released on Friday, January 12th.
Citigroup charges up on Argentina, Russia and its own restructuring
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