Citigroup said Wednesday after the market close that it is taking one-time charges related to exposures to geopolitical and economic risks in Argentina and Russia as well as the bank’s own restructuring plans. These charges affect its fourth quarter results, due to be reported this Friday. The stock fell about 2% in after hours trading Wednesday.
Citigroup to Take Billions in Charges on Restructuring, Argentina, and Russia. Stock Slides After Hours.
The bank is adding $1.3 billion to its reserves and taking a $780 million charge due to severance and other costs related to its restructuring efforts.
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