UNCFF - UniCredit taking 'progressive disengagement' approach to Russia

• UniCredit ( OTCPK:UNCFF ) ( OTCPK:UNCRY ) is leaving Russia via "progressive disengagement",  a plan that's performing well from a financial perspective, CEO Andrea Orcel told Italian daily Il Sole 24 Ore , as reported by Reuters on Thursday.
• "Russia is performing financially and this cannot be overlooked," he said. "On the other hand there are political considerations that must be taken into account."
• Taking the "progressive" approach to the company's exit from Russia helps safeguard Unicredit's ( OTCPK:UNCFF ) clients and staff, he explained.
• Earlier this week, Bloomberg reported that the company was considering structuring a sale that would allow the Italian bank to repurchase the Russian subsidiary if the geopolitical situation stabilizes.

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