JPMorgan Joins BofA, Citi in Reducing Exposure to Russia

JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., the three biggest U.S. banks, reduced Russian assets last quarter amid the crisis in Ukraine.

JPMorgan’s exposure to Russia dropped 13 percent to $4.7 billion as of March 31 from the end of 2013 and Citigroup’s fell 9 percent to $9.4 billion, according to regulatory filings yesterday from the New York-based companies. Bank of America said May 1 that it reduced the firm’s exposure 22 percent.