Citigroup’s Russian subsidiary to halt ATMs in Russia by year end

The Russian subsidiary of Citigroup Inc (NYSE:C) said on Monday that it will stop operating cash machines in the country, the last step in the winding up of the lender’s retail business in Russia.

In a statement, the bank said that all its cash machines in Russia would stop working by the end of 2023, and that customers could use mobile banking for most transactions. Citigroup Inc announced at the end of last summer that it was closing its Russian division, which resulted in a write-off of about $170 million.

At the end of last year, Russian bank Uralsib announced that it had bought Citibank’s portfolio of consumer loans and would continue servicing them.