Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalIntesa Sanpaolo
Intesa Sanpaolo
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
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Global 500Glob.Revenue, mln.USD
28056
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.
July 23, 2024 | Intesa Bank Blocks Transactions of Russian Subsidiary of Product Labeling Equipment Manufacturer Antares Vision |
June 18, 2024 | Two European banks in Russia have stopped currency transactions |
May 26, 2024 | Italian banks must stop doing business in Russia as being in the country also creates “reputational problems” |
May 20, 2024 | ECB rushing banks to quit Russia FT |
February 08, 2024 | Intesa CEO says still trying to finalise Russian exit |
February 08, 2024 | Italy’s Intesa Bank Is on Track To Exit Its Russian Operations Fully |
November 16, 2023 | Western investors spooked as Moscow mulls compulsory share purchase plan |
September 29, 2023 | The Italian bank Intesa received permission to sell Russian assets |
September 29, 2023 | Putin allowed the largest Italian bank to leave Russia |
August 25, 2023 | Exclusive: Moscow demands bigger discounts from foreign companies exiting Russia |
August 10, 2023 | The largest Italian bank is ready to stop work in Russia, - Reuters |
August 10, 2023 | Italy's largest bank plans to leave the Russian Federation |
August 07, 2023 | FT estimated damage to European companies since the beginning of the conflict in Ukraine at €100 billion |
August 07, 2023 | FT: The largest European companies have lost 100 billion euros in Russia since the beginning of the war in Ukraine |
August 06, 2023 | European companies suffer €100bn hit from Russia operations |
August 02, 2023 | The Italian bank Intesa is closing its representative office in the Russian Federation, but is not leaving the market yet |
August 02, 2023 | Leading Italian bank announces Russian office closure |
August 02, 2023 | Italian bank Intesa Sanpaolo will close a representative office in Moscow |
June 27, 2023 | ECB Urges Banks to Speed Up Plans to Exit or Shrink Russia Units |
April 26, 2023 | Intesa details reduced Russia exposure in message to shareholders |
April 26, 2023 | Intesa details reduced Russia exposure in message to shareholders |
April 18, 2023 | Bank "Intesa" suspended the opening of foreign currency accounts for private clients |
March 15, 2023 | Intesa's Russian subsidiary sees huge profit jump in 2022 |
March 15, 2023 | Record earnings of subsidiary bank Intesa will remain in Russia |
December 13, 2022 | Frank Media learned about Intesa's attempts to sell the Russian subsidiary to Gazprombank |
November 04, 2022 | Intesa sees 2022 profit at top of range after cutting Russia risks |
July 16, 2022 | INTESA SANPAOLO: EXPOSURE TO RUSSIA AND UKRAINE |
| Banca Intesa Profile and History |
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