Goldman Sachs is the first major Western bank to get out of Russia following the invasion of Ukraine. More are likely to follow at a cost of tens of billions of dollars.
MILAN/LONDON (Reuters) -Italy's UniCredit and France's BNP Paribas were the latest banks to set out their Russian exposures, warning of billions of euros in potential costs from the financial fallout
Italy's second-biggest bank UniCredit said a full write-off of its Russian business, including cross-border exposure, would cost around 7.4 billion euros ($8.1 billion), leaving its capital distributi
UniCredit has paused efforts to buy Banco BPM after losing more than a fifth of its value since Russia invaded Ukraine, two sources close to the matter told Reuters.
Italy's third-largest bank Banco BPM has occupied a special place on the wish list of Andrea Orcel since the veteran dealmaker took the reins at UniCredit last April, several sources have said.
A ramping up of financial sanctions against Russia following its invasion of Ukraine has plunged European lenders into turmoil.
UniCredit's Russian unit has a "very liquid and self-funded" balance sheet and its impaired loan coverage is very high, Italy's second-biggest bank said on Thursday as the Ukraine crisis hit its share

UniCredit shares open down 8% on Ukraine crisis

03:59am, Thursday, 24'th Feb 2022
Shares in UniCredit, whose Russian arm is one of the largest lenders in the country, fell as much as 8% on Thursday, before triggering an automatic trading suspension, hit by the escalation of the Ukr
Italy's biggest bad loan firm doValue is discussing a possible extension of its contract with UniCredit but in the meantime has made prudent estimates on future problem debts the Italian bank will sen
Italy's second-largest bank, UniCredit, is weighing its options following reports it was making moves to snag rival Banco BPM. The news was originally published by an Italian newspaper that reported U
Italy's Banco BPM has not received any information about a possible bid from bigger rival UniCredit, a source close to the bank said on Friday.
UniCredit is considering all available strategic options, consistently with its 2022-2024 plan, a spokesperson said, after an Italian newspaper reported that the lender could make a possible bid on sm
Italian bank UniCredit is set to sell 2 billion euros ($2.3 billion) in impaired debts to bad loan firm Prelios after halting a process to hire a manager for the portfolio, three sources close to the
UniCredit has dropped a potential bid for a Russian state-owned bank because of the escalating crisis over Ukraine.
UniCredit has only 1 billion euros ($1.1 billion) in loans under moratorium, all of which in Italy, and default rates on debt where payments were frozen due to COVID-19 so far have been standard, its
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