From Wall Street Journal:

In the fourth quarter, Citigroup faced various financial challenges, including Argentina’s debt market, Russia’s instability, and internal restructuring. The bank set aside $1.3 billion in reserves to cover these risks. The recent devaluation of the Argentine peso resulted in the loss of $880 million in revenue from Citigroup’s services, markets, and banking division. This news was reported in a regulatory filing released on Wednesday. Despite these setbacks, Citigroup remains committed to navigating these challenges and maintaining its position in the financial market.



Read more: Citigroup Taking Charges on Argentina, Russia and Its Own Restructuring