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Intesa says impact of Ukraine unit on bank is "negligible"
March 28, 2014 / 11:37 AM / in 4 years

Intesa says impact of Ukraine unit on bank is "negligible"

MILAN, March 28 (Reuters) - Ukraine accounts for just 0.2 percent of Intesa Sanpaolo’s total assets so its impact on the Italian bank’s balance sheet is “negligible”, the lender’s CEO Carlo Messina said on Friday.

Intesa said in January it had agreed to sell its Ukrainian subsidiary Pravex-Bank to CentraGas Holding, a unit of Ukraine-based Group DF, for 74 million euros ($102 million).

Messina told a conference call with analysts on Friday that the buyer’s situation was “unclear” because of judicial developments related to the recent turmoil in the country and that Intesa was in talks with the local regulator to see whether the deal would go ahead.

He nodded when an analyst asked him whether Intesa could just shut down the unit and leave the country. ($1 = 0.7278 Euros) (Reporting by Silvia Aloisi; editing by Agnieszka Flak)

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