Bloomberg Citigroup will wind down its consumer and commercial banking operations in Russia after President Vladimir Putin’s invasion of Ukraine complicated the sale of the business. The company will incur $170 million in costs tied to the wind-down, mostly tied to restructuring expenses and vendor termination fees, according to a statement. Citigroup will continue to try to sell certain …

  Bloomberg Bank of America Corp (BofA) is expanding its investments in digital channels as customers shift their transactions online in record numbers. Clients logged in to the bank’s electronic platforms 1 billion times in July and 2.8 billion times — an 11% increase— in the second quarter, Bank of America said in a statement. New investments will focus on …

  Bloomberg Paraguay’s central bank lifted its benchmark interest rate by a quarter of a percentage point to 8.25% with inflation still in the low teens. Policy makers continued a gradual pace of tightening after hiking by 25 basis points in July. The central bank signalled consumer prices might continue to slow in August. “Lower international oil prices have contributed …