STRESA, Italy, May 25 (Reuters) – Italian banks must halt their business in Russia as staying in the country also brings a “reputational problem,” European Central Bank policymaker Fabio Panetta said on Saturday.
After Austria’s Raiffeisen Bank International (RBIV.VI), opens new tab, UniCredit (CRDI.MI), opens new tab is the European bank with the largest exposure to Russia, while Intesa Sanpaolo (ISP.MI), opens new tab is working to dispose of its business in the country.
“From there (Russia) you have to get out,” Panetta told reporters during the press conference after the end of the G7 finance meeting in Stresa, northern Italy.
Source: REUTER
