Reuters reported on Italy's plans to require UniCredit to withdraw from Russia
The Italian authorities plan to make an offer to representatives of UniCredit bank to leave Russia in exchange for approval of the Banco BPM takeover deal. This was reported by Reuters on April 16.
"Italy is likely to ask UniCredit to leave Russia as soon as possible, [this is] one of the conditions that the government may put forward to approve the proposed takeover of a smaller competitor Banco BPM," the agency reports.
Earlier, the bank's CEO, Andrea Orsel, reported that he did not plan to wind down his business in Russia after the outbreak of the conflict in Ukraine, because "he did not want to harm shareholders."
"UniCredit accelerated the reduction of its presence in Russia in response to the demands of the European Central Bank a year ago. In February, he announced that he had achieved most of the reduction targets in Russia that he had set for 2025 ahead," the agency said.
On April 15, the Bank of Russia, by its decree, revoked Promtransbank's operating license. It is clarified that the decision was made due to repeated violations by the organization of laws and regulations. The credit institution was chronically unprofitable. PTB Bank (LLC) carried out large long-term investments, the profitability of which did not cover the costs of the funds raised.
Переведено сервисом «Яндекс Переводчик»
