A large Italian bank leaves Ukraine

The largest Italian banking group, Unicredit, is once again considering the possibility of selling its Ukrainian subsidiary, Ukrsotsbank.

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This was reported by the Ukrainian Ministry of Finance website, citing Reuters.

The Italians will make a more specific decision on this matter before the end of this year, writes Reuters, citing Unicredit Group CEO Federico Ghedzoni, the Ministry of Finance reports.

According to Gedzoni, there is now a serious discussion among the group’s top management regarding the future of its Ukrainian assets.

At the same time, this is not the first time Unicredit has tried to exit the Ukrainian market. All previous attempts by the group to sell Ukrsotsbank did not lead to the desired result due to discrepancies with potential buyers regarding the final price of the transaction.

Let us remind you that the Chairman of the Board of Ukrsotsbank Graziano Cameli left his position on July 1, 2015 and went to work at the Russian subsidiary of UniCredit Bank.