A spokesperson for the group stated in a note that the bank "has no intention of surrendering its license or liquidating its business" in Russia, adding that any speculation suggesting otherwise "is unfounded."
UniCredit explained that its operations in the country consist of a scaled-down franchise, focused on supporting international companies with payment processing, particularly in euros and dollars, and maintaining business flows with Western countries.
The group added that this reflects a consistent strategy of "downsizing and refocusing" operations, which has already been publicly disclosed and implemented over recent years.
Through this strategy, the group has managed to reduce its cross-border exposure from 4.5 billion euros in March 2022 to zero at minimal cost, while net loans fell from 6.9 billion to 0.6 billion and local deposits from 7.8 billion to 0.5 billion by the end of 2025.
(Italian version by Andrea Mandalà, editing by Claudia Cristoferi)
