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S&P Global Market Intelligence offers our top picks of banking news stories and more published throughout the week.
* UniCredit SpA is exploring deal arrangements for the sale of its Russian subsidiary JSC UniCredit Bank, including a structure that will allow it to repurchase the business once geopolitical tensions subside, insiders told Bloomberg News.
The Italian bank suffered a more than 30% decline in the value of its shares in the first half, mirroring the declines recorded by other European banks with significant exposure to Russia.
CEO Andrea Orcel said the lender is working toward a "progressive disengagement" from Russia, Reuters wrote, citing an Il Sole 24 Ore interview. A representative for the Italian bank declined a request for comment from S&P Global Market Intelligence.
More Russia developments
* HSBC Holdings PLC is in advanced-stage discussions to sell its Russian business to Moscow-based Expobank LLC, sources told Bloomberg News. The U.K.-headquartered bank's Russia exposures stood at $1.3 billion at the end of March. HSBC and Expobank did not respond to Market Intelligence's requests for comment.
* European clearing house Clearstream blocked the correspondent account of Russia-based Rosbank after its new owner, Vladimir Potanin, was hit by U.K. sanctions. In a statement to Kommersant, Rosbank said the change will not have...