UniCredit Weighs Liquidation of Russian Banking Business
The Italian lender has reportedly abandoned plans to sell its Russian unit and may instead relinquish its license. This follows pressure from the European Central Bank to reduce operations.
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UNICREDIT SPA has reportedly abandoned plans to sell its Russian subsidiary, shifting its strategy toward a potential liquidation of the business and the relinquishment of its banking license in Russia. According to reports from the Kommersant daily on Friday, this move follows a period of intense scrutiny and pressure on the lender to exit the market entirely.
