UniCredit to Transfer Part of Russian Assets to UAE Investor

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Italian banking group UniCredit is planning to sell part of its Russian assets to a private investor from the United Arab Emirates (UAE), according to a Kommersant report.

Under the deal, a portion of the business will be spun off into a new legal entity ("new bank") which will then be sold to the buyer along with the remaining assets. After the transaction is completed, UniCredit will own 100% of the "new bank," while the buyer will own 100% of the "bank" with the remaining assets, the company explained.

The parties have signed a non-binding preliminary agreement, but no names or further details have been disclosed. If agreed upon, the transaction is expected to close in the first half of 2027.

• UniCredit has been attempting to exit Russia since 2022. In April 2026, the company announced plans to surrender its license and liquidate UniCredit Bank in Russia.