Former Citigroup Russian unit to be renamed RenCap Bank
AO Citibank is rebranding as RenCap Bank following its sale to Renaissance Capital. The name change was announced today as part of Citigroup's Russian exit.
Insights:
AO Citibank announced on February 13, 2026, that it will change its name to RenCap Bank following its planned sale to Renaissance Capital. The name change and sale follow the strategic reduction of operations by Citigroup Inc. in Russia 
RU after the start of the war in Ukraine 
UA.
RU after the start of the war in Ukraine UA.The board of directors approved the sale in December, and the transaction is now officially announced. Citigroup expects the deal to result in a sizable projected pre-tax loss of about $1.2 billion. This figure is anticipated to affect the company's financial results and its specific Russia exposure.
