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Citigroup says no 'significant negative impact' from Brexit

Published 01/08/2016, 14:43
© Reuters. People walk by a Citibank branch in Buenos Aires
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(Reuters) - Citigroup Inc (N:C) said on Monday it did not experience any "significant negative impact" on its results or client activity as a result of Britain's vote to exit the European Union.

Citi said in a regulatory filing that while market activity increased following the referendum in the UK, the bank expects the operating environment to continue to be challenging.

The bank's UK asset exposure was $108.4 billion (£82.32 billion) as of June 30, according to the filing.

Citi said only 30 percent of its corporate loans booked in the UK were to UK-domiciled entities, while the rest were mostly to European counterparties.

© Reuters. People walk by a Citibank branch in Buenos Aires

The bank left its estimate for possible unreserved legal costs, as of June, unchanged at $3 billion.

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