Citigroup Says Argentine Net Investment Declines to $670 Million

Aug 03, 2014 7:50 am ET

Aug. 1 (Bloomberg) -- Citigroup Inc. said its net investment in Argentina declined $20 million in the second quarter.

The net investment was $670 million at the end of June, the New York-based bank said in a securities filing today. Third- party assets in Argentina increased to $3.6 billion during the period, according to the filing.

Should the U.S. regulators downgrade Argentina, the bank could lose about $80 million, Citigroup said.