Citigroup in New York recorded a $1.3 billion reserve build in the fourth quarter tied to exposure in Argentina and Russia.
The $2.4 trillion-asset company also disclosed in a regulatory filing that it took a roughly $880 million hit in the quarter due to recent devaluations to the Argentine peso.
Citi also said it recorded about $780 million in restructuring charges tied to its global overhaul.
Finally, Citi said it expects to incur a $1.7 billion cost to replenish the Federal Deposit Insurance Corp.’s deposit insurance fund – an amount that is 3% more than what the company forecast late last year.