UniCredit to Sell AO Bank, €3bn‑€3.3bn Hit

UniCredit entered a non‑binding agreement to sell part of its Russian subsidiary AO Bank to a private UAE investor.
The deal spins off part of AO Bank, leaving UniCredit with 100% of a new bank and the buyer with the rest.
UniCredit expects a cumulative P&L headwind of €3‑€3.3 billion and a CET1 ratio impact of 20‑25 basis points, reducing extreme loss to 30‑40 bps.
Transaction slated to close in H1 2027, subject to approvals, with no effect on shareholder payouts or 2028‑2030 net‑profit targets.