The National Bank of Ukraine [NBU] has repeatedly communicated with the international financial community, calling on the banking and insurance sector to stop doing business in russia and belarus. Such calls have been addressed to Raiffeisen Bank International, Intesa Sanpaolo, OTP Bank, ING Bank, and Credit Agricole.
According to the NBU, the banks that are part of international financial groups have provided preferential lending conditions to the participants of the so-called “special military operation.” “This comes as more evidence that the previously declared intentions differ from the actual state of affairs. These banks remain active participants in russia’s banking market and are competing to expand their loan portfolios,” the release said.
“We are once again publicly appealing to the management of international banking groups: be advised that by opting to stay in russia, you have chosen to support the aggressor and its war crimes,” the NBU said.