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...By comparison, UniCredit, the second-largest western bank in Russia, employed 3,171 staff at the end of 2023 compared with 4,383 two years earlier....
...UniCredit declined to comment....
...Among the most eye-catching distribution announcements this year are Italy’s UniCredit, which promised to pay €8.6bn — its entire profit haul for 2023 — to investors....
...Buch said eurozone banks had cut their Russian activities by half in the past two years and those still present, which include Italy’s UniCredit and Austria’s Raiffeisen, had been given “clear expectations...
...UniCredit....
...Austria’s Raiffeisen Bank International said it had decided to “walk away” from a deal involving holdings of sanctions-hit Russian oligarch Oleg Deripaska following pressure from regulators and western governments...
...Alexander Schallenberg, Austria’s foreign minister, declared in a recent interview with Reuters that it was “delusional” to think the west as a whole could decouple from Russia....
...Ermotti’s total pay also dwarfs the awards of chief executives at other major European banks, including Christian Sewing of Deutsche Bank, who was paid €8.9mn last year, and Andrea Orcel of UniCredit, whose...
...Other western banks, including Citigroup, Italy’s UniCredit and Austria’s Raiffeisen Bank International, are still operating in Russia....
...And a probe to start: Austria’s anti-corruption prosecutors have opened an investigation into property mogul René Benko for allegedly defrauding a bank....
...Austria’s Raiffeisen Bank International said it expected to be ordered by the European Central Bank to speed up its withdrawal from Russia, in a move that could derail talks to sell its highly profitable...
...Its contents were first reported by Austria’s Der Standard newspaper....
...UniCredit is one of the largest banking players in central and eastern Europe with a large presence in Germany, Austria, Croatia and Romania. It also still owns a lender in Russia....
...Under the arrangement with Deripaska, Raiffeisen’s Russian subsidiary will pay cash to Deripaska in exchange for his 28 per cent shareholding in Austria’s Strabag, one of Europe’s largest construction companies...
...Austria’s Raiffeisen Bank has served up an equally elaborate scheme that may extricate it from the same country....
...Rival Philip Morris has also kept its business in Russia, alongside other companies and large European banks such as Austria’s Raiffeisen and Italy’s UniCredit....
...Austria’s Raiffeisen Bank International has concluded a complex asset swap arrangement with Oleg Deripaska that skirts EU sanctions restrictions to hand the Russian oligarch roubles worth €1.5bn....
...In October, Benko was named by prosecutors as a suspect in a long-running corruption investigation in Austria that has ensnared prominent businessmen and politicians....
...In 2021, UBS, UniCredit and Nomura were fined a total of €371mn for taking part in a bond trading cartel during the European sovereign debt crisis, with traders at the three banks having been found to have...
...Other lenders that still have some operations in Russia include Italy’s UniCredit and OTP Bank of Hungary....
...Switzerland’s Julius Baer and Credit Suisse, now part of UBS, as well as Austria’s Raiffeisen, Bank of China, France’s Natixis and Italy’s UniCredit are among the group’s lenders....
...to Signa, including UBS-owned Credit Suisse, Bank of China, France’s Natixis and Italy’s UniCredit....
...While most of the claimants are Swiss, there are other investors from the UK, US, Germany, Austria, Thailand and Dubai....
...Austria’s Raiffeisen and Italy’s UniCredit remain the two biggest financiers, according to the data from the Kyiv School of Economics....
...Investors, regulators and politicians all called for consolidation in the fragmented industry with multiple combinations explored, from UniCredit buying Société Générale or Deutsche Bank absorbing its domestic...
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