Major Italian bank winding down Russian operations – Kommersant

UniCredit Group has reportedly sold the assets of its leasing company in the country as part of its exit strategy

Italy’s UniCredit Group, one of the last major Western banks still operating in Russia, has begun scaling back its business, Kommersant reported Tuesday, citing sources familiar with the matter.

Operating in Russia since 1989, UniCredit is listed by the central bank as among the country’s 13 key credit institutions. Alongside a few other banks from EU nations, the lender has maintained a presence in the Russian market amid international pressure following the 2022 escalation of the Ukraine conflict.

Apart from the Italian bank…

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