Public joint stock company BANK URALSIB (MISX:USBN) agreed to acquire portfolio of ruble-denominated credit card balances from Joint Stock Company Commercial Bank Citibank on October 28, 2022. Citi has also agreed to transfer to Portfolio of Ruble-Denominated personal installment loans, subject to customer consents. No employees or branches are expected to transfer as a result of these transactions.

The credit cards are expected to close during the first half of 2023. Jeffrey A. Brill of Skadden, Arps, Slate, Meagher & Flom LLP is acting as Citi's legal advisor.