DISCONTINUED OPERATIONS, SIGNIFICANT DISPOSALS AND OTHER BUSINESS EXITS

9 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS, SIGNIFICANT DISPOSALS AND OTHER BUSINESS EXITS

Summary of Discontinued Operations

Citi’s results from Discontinued operations consisted of residual activities related to the sales of the Egg Banking plc credit card business in 2011 and the German retail banking business in 2008. All Discontinued operations results are recorded within All Other.

Citi’s Income (loss) from discontinued operations, net of taxes, as well as cash flows from Discontinued operations, were not material for the periods presented.

Significant Disposals

As of September 30, 2025, Citi had closed the sales of nine consumer banking businesses within All Other—Legacy Franchises: Australia closed in the second quarter of 2022, the Philippines closed in the third quarter of 2022, Bahrain, Malaysia and Thailand closed in the fourth quarter of 2022, India and Vietnam closed in the first quarter of 2023, Taiwan closed in the third quarter of 2023 and Indonesia closed in the fourth quarter of 2023.

In the second quarter of 2025, the following transaction was identified as a significant disposal that was recorded within All Other—Legacy Franchises, including the assets and liabilities that were reclassified to held-for-sale (HFS) within Other assets and Other liabilities on the Consolidated Balance Sheet and the Income (loss) before taxes (benefits) related to the business.

Agreement to Sell Poland Consumer Banking Business

On May 27, 2025, Citi entered into an agreement to sell its Poland consumer banking business, which is part of All Other—Legacy Franchises. The sale, which is subject to regulatory approvals and other customary closing conditions, is expected to close by mid-2026. Beginning in the second quarter of 2025, Citi reported the business as HFS. In the second and third quarters of 2025, Citi recognized a pretax loss on sale of approximately $184 million recorded in Other revenue ($155 million after-tax), subject to closing adjustments.

Income before taxes, excluding the pretax loss on sale, for the Poland consumer banking business was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
In millions of dollars	2025		2024		2025		2024
Income before taxes	$	28	$	41	$	97	$	111

The following assets and liabilities related to the Poland consumer banking business were reclassified to HFS within Other assets and Other liabilities, respectively, on the Consolidated Balance Sheet at September 30, 2025:


In millions of dollars	September 30, 2025
Assets
Cash and deposits with banks(1)	$	4,671
Loans (net of allowance of $25 at September 30, 2025)	1,679

Other assets	50
Total assets	$	6,400
Liabilities
Deposits	$	6,085

Other liabilities	64
Total liabilities	$	6,149

(1) Includes liquidity resources currently composed of approximately $4.6 billion of Deposits with banks. This may transfer as cash and securities at time of closing and is primarily recorded in Markets.

Citi did not have any other significant disposals as of September 30, 2025.

For a description of the Company’s significant disposal transactions in prior periods and financial impact, see Note 2 to the Consolidated Financial Statements in Citi’s 2024 Form 10-K.

Other Business Exits

Other significant transactions during 2025 included the following:

Agreement to Sell 25% Equity Stake in Banamex

On September 24, 2025, Citi entered into an agreement to sell an equity stake in Grupo Financiero Banamex, S.A. de C.V. (Banamex), which is part of All Other—Legacy Franchises. Under the transaction, a company wholly owned by Fernando Chico Pardo and members of his immediate family will acquire 25% (approximately 520 million shares) of Banamex’s outstanding common shares at a fixed price-to-book value of 0.80 times the local GAAP book value of the shares at closing. The transaction is subject to customary closing conditions, including regulatory approvals in Mexico.