UniCredit Tells Russian Clients to Close Accounts
Clients of UniCredit in Russia are being urged to close their accounts and transfer funds to other banks as the Italian bank continues its withdrawal from the Russian market. The bank has not announced immediate termination of services, citing ongoing reduction of retail operations.
Consensus
- Clients of UniCredit in Russia are receiving recommendations to close their bank accounts and cards.
- The bank is not immediately ceasing services but is reducing its operations in Russia.
- UniCredit announced its intention to leave the Russian market in 2022.
- The bank has been progressively reducing its retail business in Russia over recent years.
- The European Central Bank's tightened requirements have accelerated the withdrawal process.
- UniCredit has stopped issuing new debit cards and has blocked inactive cards after six months.
- The bank has introduced a 2% fee for ruble transfers to foreign bank accounts starting October 1.
- Clients are advised to transfer remaining funds via the Fast Payment System without commission.
Points of divergence
- UniCredit stopped issuing debit cards for any reason starting December. — tg_moscowtimes_ru
- A consortium of investors from the UAE has offered to buy UniCredit's Russian business, acting on behalf of Alfa Group, with deal completion expected in the first half of 2027. — tg_dwglavnoe
Coverage (2 sources)
- UniCredit offers Russian clients to close accounts amid business winding down — DW Главное
- One of the last European banks in Russia urged clients to close accounts and withdraw funds — The Moscow Times