UniCredit, a big European bank, is having some trouble because of the war in Ukraine. They had a Russian part of their business that they couldn't easily get rid of. This caused some big legal problems and lots of extra costs!
- UniCredit's Russian branch sued the German part of the bank.
- This was about payments that UniCredit couldn't make due to sanctions.
- UniCredit is now trying to leave Russia completely.
- They even sued the European Central Bank (ECB) over this.
| Problem | Amount |
|---|---|
| Legal costs in 2024 | 554 million euros ($580 million) |
| Costs in the last 3 months of 2024 | 0.3 billion euros |
It's a complicated situation, but it shows how the war affects even big banks!
