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    UCG   IT0005239360

UNICREDIT S.P.A.

(UCG)
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Delayed Borsa Italiana  -  11:40 2022-09-29 am EDT
10.19 EUR   -2.71%
06:54aEuro zone bond yields rise, focus on UK gilts, inflation data
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02:40aUniCredit names Marion Hoellinger CEO at HVB
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09/29UNICREDIT S.P.A. : Changes in management and corporate officers
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HSBC in talks to sell Russian lending business to Expobank -source

07/06/2022 | 10:10am EDT
FILE PHOTO: A man walks past a HSBC bank branch in the City of London

LONDON (Reuters) - HSBC is in advanced talks to sell its Russian corporate lending business to Expobank, a source with knowledge of the matter told Reuters, as many major banks exit the country.

Several of the world's top financial services companies have moved to sell or dramatically reduce their business interests in Russia since it invaded Ukraine.

Moscow's invasion, which President Vladimir Putin describes as a "special military operation", has triggered one of the most extensive international sanctions packages to date.

HSBC's corporate lending business, which offers a range of corporate banking and investment banking services to domestic and multinational customers in Russia, employed around 200 people on the eve of the Feb. 24 invasion, HSBC Chief Financial Officer Ewen Stevenson said at the time.

Russian lender Expobank declined to comment on the talks.

Among other banks, France's Societe Generale has sold its Rosbank unit to oligarch Vladimir Potanin, while Italy's UniCredit is exploring options for the future of its Russian business, which employs around 4,000 staff.

Bloomberg reported the HSBC talks earlier on Wednesday.

(Reporting by Lawrence White and Sinead Cruise, Editing by Iain Withers and Alexander Smith)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EVE HOLDING, INC. -9.80% 9.94 Delayed Quote.0.00%
MINING AND METALLURGICAL COMPANY NORILSK NICKEL 1.03% 16720 End-of-day quote.-26.76%
SOCIÉTÉ GÉNÉRALE -4.14% 20.125 Real-time Quote.-33.37%
UNICREDIT S.P.A. -2.71% 10.19 Delayed Quote.-22.67%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -2.04% 56.75 Delayed Quote.-22.40%
All news about UNICREDIT S.P.A.
06:54aEuro zone bond yields rise, focus on UK gilts, inflation data
RE
02:40aUniCredit names Marion Hoellinger CEO at HVB
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09/29UNICREDIT S.P.A. : Changes in management and corporate officers
CO
09/28Euro zone yields at multi-year highs, German real yield briefly positive
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09/28UniCredit CEO says firms, families are adjusting, sees recovery at end-2023
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09/28Austria's Manufacturing PMI for September Remains in Contraction Zone
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09/28Austria Plans to Raise EUR1 Billion in Debut Green Treasury Bill in October
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09/27UNICREDIT SPA : Gets a Buy rating from Credit Suisse
MD
09/27Tattered UK gilt market stages tentative comeback
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09/27Any Pause in Gilt Selling May Be Short-lived
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Analyst Recommendations on UNICREDIT S.P.A.
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Financials
Sales 2022 18 448 M 18 019 M 18 019 M
Net income 2022 3 502 M 3 420 M 3 420 M
Net Debt 2022 - - -
P/E ratio 2022 5,99x
Yield 2022 6,40%
Capitalization 20 606 M 20 127 M 20 127 M
Capi. / Sales 2022 1,12x
Capi. / Sales 2023 1,11x
Nbr of Employees 76 671
Free-Float 87,4%
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Mean consensus BUY
Number of Analysts 24
Last Close Price 10,19 €
Average target price 14,78 €
Spread / Average Target 45,0%
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Managers and Directors
Andrea Orcel Chief Executive Officer
Stefano Porro Group Chief Financial Officer
Pietro Carlo Padoan Chairman
Jingle Pang Group Head-Digital & Information Officer
Ranieri de Marchis Co-COO & General Manager
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