🏦 Italy will demand that UniCredit bank exit russia as soon as possible – Reuters

🇮🇹 The Italian government is likely to demand UniCredit bank’s exit from russia as one of the conditions for approving its merger with the smaller competitor Banco BPM

Source: Bukvy

💼 Despite the full-scale invasion of Ukraine, UniCredit still maintains its presence in russia. The bank’s CEO, Andrea Orcel, stated that he is not ready to exit without fair compensation to avoid harming shareholder interests

📉 However, at the end of February 2025, Orcel emphasized that UniCredit still plans to scale down its russian business, even if the war ends

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🗓️ It is expected that the Italian government will discuss the conditions of the potential deal this week — a cabinet meeting is scheduled for April 18

📊 Among other potential demands are obligations for the bank to maintain a stable loan-to-deposit ratio and continue participating in project financing

🚫 Back in October 2024, it was reported that the Kremlin was creating barriers for western banks, including UniCredit and Raiffeisen, to exit the russian market