(Reuters) - Citigroup Inc (C.N) 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. (bit.ly/2aFQlwd)
The bank’s UK asset exposure was $108.4 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.
The bank left its estimate for possible unreserved legal costs, as of June, unchanged at $3 billion.
Reporting by Sruthi Shankar in Bengaluru; Editing by Maju Samuel