Citibank, which is leaving Russia, has decided to forgive some of its loan debts

Citibank, which is leaving Russia, will forgive the debts of a number of clients on loans. This was reported by RBC on February 22.

According to the agency, the bank has begun to notify its clients about such a measure. The interlocutors of the publication said that it will affect about 1 thousand contracts.

It was specified that debts on problem loans, which the bank failed to sell on the market, will be forgiven.

At the same time, the volume of the relevant debt was not disclosed.

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In 2021, the American company Citigroup, which owns Citibank, decided to sell its retail business in 14 countries, including Russia. In 2022, it expanded the scope of its planned exit from Russia to include its Russian SME business. In December 2022, Citibank sold its consumer loan portfolio to Uralsib Bank.