Russian President Vladimir Putin has authorized the reorganization of UniCredit Bank and transactions with its shares. The order opens up the possibility of selling 100% of the shares of the operating Russian bank, owned by the Italian UniCredit, as part of the previously announced business restructuring.
The scheme assumes that UniCredit Bank will first be divided. Part of the assets and activities will be allocated to a new legal entity, which will remain under UniCredit's control. The remaining bank, along with its current banking license, is planned to be transferred to a new owner. The published order does not disclose the name of the potential buyer.
UniCredit itself reported in May that it was negotiating with a private investor from the United Arab Emirates. After the deal, the Italian group intends to significantly reduce its presence in Russia and focus primarily on international payments for corporate clients. The deal was previously planned to close in the first half of 2027.
UniCredit's Russian business has been shrinking for several years. Nevertheless, UniCredit Bank remains a systemically important credit institution. As of September 1, 2026, its assets were estimated at approximately 697.4 billion rubles, and its capital at 376.9 billion rubles.
However, the president's permission itself does not yet mean an immediate change of ownership. UniCredit previously indicated that the operation would require the separation of a new structure and the formalization of necessary agreements. For clients during the transition period, the group promised to maintain access to current operations and payment infrastructure.