Intesa Sanpaolo
LeaveRussia detail: Withdrawal
Intesa Sanpaolo is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest.
Business in Russia
Bank "Intesa" stopped opening foreign currency accounts to new private clients in Russia. The Russian "daughter" of the Italian group Intesa Sanpaolo remains one of the few that conducts currency transfers from Russia abroad. The Italian bank Intesa received permission to sell Russian assets. Putin allowed the largest Italian bank to leave Russia. On September 29, Russian President Vladimir Putin issued a special permit to carry out transactions with shares of Bank Intesa, the Russian subsidiary of an Italian credit institution that has operated in the country for more than 30 years. The amount of the deal, according to sources, will be “symbolic.” At the same time, Intesa was counting on the return of 300 million euros, which it provided to its Russian bank as funding.
Decision trail
Decision date 29/09/2023 · Reference ↗
No statements about suspending or closing business. Italian bank Intesa Sanpaolo's (ISP.MI) Russian subsidiary saw profits more than six times higher in 2022 than the year before, independent audit documents showed, as Western sanctions on Russia's banking sector gave foreign lenders an unlikely boost. Intesa closer to gaining Moscow's OK for Russia asset transfer. The largest Italian bank, Intesa Sanpaolo, has decided to close its representative office in Moscow, although it was unable to obtain permission to completely withdraw from Russia due to restrictions on the sale of assets. Banca Intesa has increased the fee for legal entities to open euro accounts tenfold.
Local stats (LeaveRussia)
Status history since 2022
- 03/08/2026 — exited · Imported from KSE LeaveRussia
Exposure profile
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Energy, transport and commodity exposure, supplier/customer links in the region and sanctioned-party proximity.
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