Jan 28 (Reuters) - UniCredit CEO Andrea Orcel and CFO Stefano Porro hold newswire call:

* BANK WAS CONSIDERING CONTRIBUTING RUSSIAN OPERATIONS IN RETURN FOR CONTROLLING STAKE IN OTKRITIE IPO - CEO

* IN LIGHT OF RUSSIA'S GEOPOLITICAL SITUATION UNICREDIT HAS WITHDRAWN FROM PROCESS - CEO

* BANK'S RUSSIAN PRESENCE HAS ALWAYS BEEN ABOVE LOCAL COST OF EQUITY, WE'RE GENERALLY HAPPY WITH IT AND COMMITTED TO IT - CEO

* UNICREDIT CONFIRMING GUIDANCE OF ADJ. NET PROFIT ABOVE 3.3 BLN EUROS IN 2022 (EQUIVALENT FIGURE FOR CURRENT UNDERLYING NET PROFIT DEFINITION 3.8 BLN EUROS) - CFO

* BANK HAS OPTION NOT TO CONTINUE PARTNERSHIP WITH ALLIANZ IN ITALY AFTER 2024 BUT EXPECTATION IS TO CONTINUE IT - CEO

* BANK WILL NOT DO M&A DEALS THAT DERAIL CAPITAL DISTRIBUTION PLANS FOR NEXT TWO YEARS - CEO

* UNICREDIT MAY CONSIDER DEALS, ENTER DATA ROOMS BUT THOSE DISCUSSIONS DO NOT MEAN AT ALL THAT WE WILL CLOSE THOSE TRANSACTIONS - CEO

* RUSSIAN DEAL IN THE WAY IT HAD BEEN DESIGNED WOULD NOT HAVE ENDANGERED CAPITAL DISTRIBUTION POLICY - CEO

* DIRECTION OF TRAVEL IS TO CONTINUE TO RATIONALISE INSURANCE PARTNERS - CEO (Reporting by Milan Newsroom)