On the Record · Citigroup
Citigroup acquisitions, on the record
The businesses Citigroup bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Philippines consumer banking businessWord for word“The Philippines consumer banking business was reclassified to HFS from 4Q21 until the closing of its sale on August 1, 2022.” 10-K for 2022 | divestiture | August 1, 2022 | — |
consumer banking businesses in Thailand, India, Malaysia, Taiwan, Indonesia, Bahrain and VietnamWord for word“(4) 2022 includes an approximate $350 million reclass related to the announced sales of Citi’s consumer banking businesses in Thailand, India, Malaysia, Taiwan, Indonesia, Bahrain and Vietnam.” 10-K for 2022 | agreed divestiture | — | — |
India consumer banking businessWord for word“(1) 2023 includes (i) an approximate $1.059 billion gain on sale recorded in revenue (approximately $727 million after-tax) related to the India consumer banking business sale; (ii) an approximate $403 million gain on sale recorded in revenue (approximately $284 million after-tax) related to the Taiwan consumer banking business sale; and (iii) approximately $372 million (approximately $263 million after-tax) in operating expenses primarily related to separation costs in Mexico and severance costs in the Asia exit markets.” 10-K for 2023 | divestiture | 2023 | — |
Australia consumer banking businessWord for word“(3) 2021 includes (i) an approximate $680 million loss on sale (approximately $580 million after-tax) related to Citi’s agreement to sell its Australia consumer banking business; and (ii) an approximate $1.052 billion in expenses (approximately $792 million after-tax) primarily related to charges incurred from the voluntary early retirement program (VERP) in connection with the wind-down of Citi’s consumer banking business in Korea.” 10-K for 2023 | agreed divestiture | 2021 | — |
Barclays American Airlines co-branded card portfolioWord for word“In addition, Citi reached an agreement to acquire the Barclays American Airlines co-branded card portfolio and will begin transitioning cardmembers to the Citi portfolio in 2026.” 10-K for 2024 | agreed acquisition | — | — |
AO Citibank (Russia)Word for word“In addition to the divestitures that are part of Citi’s strategic refresh, on February 18, 2026, Citi signed and closed the sale of AO Citibank in Russia to RenCap.” 10-K for 2025 | divestiture | February 18, 2026 | — |
25% equity stake in BanamexWord for word“• completed the sale of 25% of Banamex’s outstanding common shares • signed an agreement to sell the Poland consumer banking business, which is expected to close by mid-2026, subject to regulatory approvals and other customary closing conditions • continued to make progress on the wind-down in Korea • substantially completed wind-downs of the consumer businesses in China and Russia • exited nine markets In addition to the divestitures that are part of Citi’s strategic refresh, on February 18, 2026, Citi signed and closed the sale of AO Citibank in Russia to RenCap.” 10-K for 2025 | divestiture | — | — |
| Fiscal year ended | Cash received from selling businesses |
|---|---|
| 2016-12-31 | $265 million |
| 2017-12-31 | $3.41 billion |
| 2018-12-31 | $314 million |
| 2019-12-31 | $0 |
| 2020-12-31 | $0 |
| 2021-12-31 | $0 |
| 2022-12-31 | $5.74 billion |
Deal filings since 2016
Read from Citigroup’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-02-20. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.