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UniCredit exits Russian market in €3.3B deal with UAE investor

A bold retreat from Russia comes at a steep cost. UniCredit's €3.3B deal reshapes its future—but will the gamble pay off?

, and Administrator

2026 May 8 . 8:09 AM

1 min read

The image shows an old Russian banknote with Arabic writing on it. The paper has text and numbers... — The image shows an old Russian banknote with Arabic writing on it. The paper has text and numbers written on it, likely indicating the denomination of the note.

UniCredit exits Russian market in €3.3B deal with UAE investor

UniCredit has agreed to sell a portion of its Russian operations. The buyer is a private investor based in the United Arab Emirates. The move marks a significant shift in the bank’s strategy within the region. The preliminary deal will see UniCredit exit much of its Russian business. In return, the bank will concentrate on international payment services in the country. This change follows years of operational challenges in the market.

The transaction is not without financial cost. UniCredit expects a profit hit of around €3 to €3.3 billion. Despite this, the bank remains committed to completing the sale.

Closing is scheduled for the first half of 2027. Until then, both parties will work through regulatory and legal steps. The process will likely involve detailed financial and operational adjustments. Once finalised, the deal will reduce UniCredit’s exposure in Russia. The bank will retain only its international payment operations there. The financial impact, while substantial, reflects the bank’s long-term restructuring plans.