According to agency sources, this is a legally binding order, failure to comply with which UniCredit may face fines. It is noted that the demands presented will be similar to those addressed to Raiffeisen Bank International (RBI).
The Austrian Raiffeisen previously noted that the requirements of the European regulator go far beyond its own plans to further reduce business in Russia and may complicate the sale of the Russian subsidiary of the organization.
The fact that UniCredit was planning to leave the Russian market with the possibility of repurchasing assets if the geopolitical situation improves became known in June 2022. Among the possible buyers were Russian companies that were not subject to sanctions, as well as applicants from China, Turkey and India. The bank noted that they do not intend to sell the asset at any price, and are also constantly looking for opportunities to reduce risks. At the same time, in 2023, the net profit of UniCredit’s Russian business amounted to 665 million euros, which is three times more than the losses in 2022.
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2024-04-19 20:09:35