Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal

Intesa Sanpaolo is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest.

Clean Break: the company completely halting Russian engagements or exiting Russia

Leave Withdrawal

Global 500, is an annual ranking of the top 500 corporations worldwide

Global 500
Revenue(RF), mln.USD
91
Offices
28
Glob.Revenue, mln.USD
28056
Staff(RF), 2021
980
Capital(RF), mln.USD
251
Assets(RF), mln.USD
1605
Taxes(RF), mln.USD
18

Bank "Intesa" stopped opening foreign currency accounts to new private clients in Russia. The Russian "daughter" of the Italian group Intesa Sanpaolo remains one of the few that conducts currency transfers from Russia abroad. The Italian bank Intesa received permission to sell Russian assets. Putin allowed the largest Italian bank to leave Russia. On September 29, Russian President Vladimir Putin issued a special permit to carry out transactions with shares of Bank Intesa, the Russian subsidiary of an Italian credit institution that has operated in the country for more than 30 years. The amount of the deal, according to sources, will be “symbolic.” At the same time, Intesa was counting on the return of 300 million euros, which it provided to its Russian bank as funding.

The Company Statement
September 29, 2023

No statements about suspending or closing business. Italian bank Intesa Sanpaolo's (ISP.MI) Russian subsidiary saw profits more than six times higher in 2022 than the year before, independent audit documents showed, as Western sanctions on Russia's banking sector gave foreign lenders an unlikely boost. Intesa closer to gaining Moscow's OK for Russia asset transfer. The largest Italian bank, Intesa Sanpaolo, has decided to close its representative office in Moscow, although it was unable to obtain permission to completely withdraw from Russia due to restrictions on the sale of assets.

June 18, 2024Two European banks in Russia have stopped currency transactions
May 26, 2024Italian banks must stop doing business in Russia as being in the country also creates “reputational problems”
May 20, 2024ECB rushing banks to quit Russia FT
February 08, 2024Intesa CEO says still trying to finalise Russian exit
February 08, 2024Italy’s Intesa Bank Is on Track To Exit Its Russian Operations Fully
November 16, 2023Western investors spooked as Moscow mulls compulsory share purchase plan
September 29, 2023The Italian bank Intesa received permission to sell Russian assets
September 29, 2023Putin allowed the largest Italian bank to leave Russia
August 25, 2023Exclusive: Moscow demands bigger discounts from foreign companies exiting Russia
August 10, 2023The largest Italian bank is ready to stop work in Russia, - Reuters
August 10, 2023Italy's largest bank plans to leave the Russian Federation
August 07, 2023FT estimated damage to European companies since the beginning of the conflict in Ukraine at €100 billion
August 07, 2023FT: The largest European companies have lost 100 billion euros in Russia since the beginning of the war in Ukraine
August 06, 2023European companies suffer €100bn hit from Russia operations
August 02, 2023The Italian bank Intesa is closing its representative office in the Russian Federation, but is not leaving the market yet
August 02, 2023Leading Italian bank announces Russian office closure
August 02, 2023Italian bank Intesa Sanpaolo will close a representative office in Moscow
June 27, 2023ECB Urges Banks to Speed Up Plans to Exit or Shrink Russia Units
April 26, 2023Intesa details reduced Russia exposure in message to shareholders
April 18, 2023Bank "Intesa" suspended the opening of foreign currency accounts for private clients
March 15, 2023Intesa's Russian subsidiary sees huge profit jump in 2022
March 15, 2023Record earnings of subsidiary bank Intesa will remain in Russia
December 13, 2022Frank Media learned about Intesa's attempts to sell the Russian subsidiary to Gazprombank
November 04, 2022Intesa sees 2022 profit at top of range after cutting Russia risks
July 16, 2022INTESA SANPAOLO: EXPOSURE TO RUSSIA AND UKRAINE
Banca Intesa Profile and History
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