{"id":870854,"date":"2026-04-04T05:17:17","date_gmt":"2026-04-04T05:17:17","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/870854\/"},"modified":"2026-04-04T05:17:17","modified_gmt":"2026-04-04T05:17:17","slug":"citigroups-irish-eu-hub-books-124m-loan-charge-for-heightened-global-risks-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/870854\/","title":{"rendered":"Citigroup\u2019s Irish EU hub books $124m loan charge for \u2018heightened global risks\u2019 \u2013 The Irish Times"},"content":{"rendered":"

Citigroup<\/a>\u2019s EU unit in Dublin, the largest bank in the State, booked a net loan impairment charge of $124 million (\u20ac108 million) last year due to reflect \u201cheightened global risk and prevailing economic uncertainty\u201d.<\/p>\n

A 14 per cent increase in the bank\u2019s loan portfolio to $30.2 billion (\u20ac28.9 billion) also contributed to the precautionary charge, even though the overall quality of its loan book \u201cremained stable\u201d, Citibank Europe <\/a>said in its latest annual financial statement filed with the Companies Registration Office this week. <\/p>\n

The loan provision predated the breakout of war in Iran at the end of February, which sent energy prices soaring and clouded the outlook for inflation and the global economy. <\/p>\n

The financial institution<\/a>, which surpassed Bank of Ireland in 2024 to become the largest bank in the Republic by assets, saw its balance sheet expand by 17 per cent last year to $210 billon, driven by an increase in trading assets, investment securities and loans. <\/p>\n

Net profit declined by 9.4 per cent to $1.88 billion, with a drop in net interest income, as global rates declined and a capital loss booked on the agreed sale of the company\u2019s last remaining European consumer bank, Bank Handlowy in Poland, more than offsetting an increase in fee and commission income. <\/p>\n

The board plans to pay a $1.69 billion dividend to its US parent on last year\u2019s earnings, down from a payout of $1.85 billion handed over last year, according to the report. <\/p>\n

Ireland has been home to Citigroup\u2019s EU banking headquarters <\/a>since early 2016, before the Brexit referendum. The bank has branches in 20 other European countries and employed a total of more than 16,900 staff at the end of last year. It has about 3,000 employees in Ireland. <\/p>\n

Citigroup Europe is set to move into new offices<\/a> being built by developer Johnny Ronan\u2019s Ronan Group Real Estate (RGRE) at Waterfront South Central in Dublin\u2019s north docklands in the final two months of this year. The total cost to the bank for the site and construction is estimated at about \u20ac300 million.<\/p>\n

The bank agreed to sell its existing Liffey-side headquarters in 2023 for about \u20ac140 million to RGRE, which aims to redevelop the property after it is vacated.<\/p>\n

\"\"Iran\u2019s cyber-attacks on Irish-based companies and the ongoing impact of conflict in the Middle East<\/p>\n

Citibank Europe, led by Ignacio (Nacho) Guti\u00e9rrez-Orrantia, continues to monitor a \u201cshifting global environment in 2026, marked by moderate economic growth as higher interest rates weigh on advanced economies while emerging markets show relatively stronger momentum\u201d, according to the report. <\/p>\n

\u201cTrade policy remains uncertain, with tariff changes and supply-chain realignments. Geopolitical risk, including the Russia-Ukraine war and the Middle East conflict, continue to influence energy markets and supply-chain conditions,\u201d it said. <\/p>\n

For the full year 2025, Citigroup as a whole reported a net profit of $14.3 billion on revenues of $85.2 billion, marking an increase from the $12.7 billion net income on $80.7 billion in revenue reported for 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"Citigroup\u2019s EU unit in Dublin, the largest bank in the State, booked a net loan impairment charge of…\n","protected":false},"author":2,"featured_media":870855,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5174],"tags":[112091,87778,2000,299,5187,1699,243932,247198],"class_list":["post-870854","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eu","tag-bank-of-ireland","tag-citigroup","tag-eu","tag-europe","tag-european","tag-european-union","tag-financial-services-ireland","tag-ifsc"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116344747521940525","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/870854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=870854"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/870854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/870855"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=870854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=870854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=870854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}