Ukrainian security services have searched the local offices of
Italian bank UniCredit SpA as part of an investigation into the
financing of Russia-backed separatists in the east of the
country.
The bank said the General Directorate of Security Service of
Ukraine, or SBU, seized documents related to its customers and
partners in a search on Monday. It added that it was cooperating
with the authorities and had provided all the information
requested.
Olena Hiltyanska, a spokeswoman for the Ukrainian security
services, said the government was investigating the possibility
that transactions conducted at the bank had financed
separatists.
She said the SBU believes there are "up to ten organizations"
who used Unicredit accounts for financing terrorism. She couldn't
specify the number of individuals involved.
Ms.Hiltyanska added that the security services didn't suspect
Unicredit of any wrongdoing, only its clients. She declined to
comment further citing the ongoing investigation.
Tamara Savoschenko, deputy chairman of UniCredit's Ukrainian
unit, said the security services referred to a decision by the
Pechersk District Court and that bank always provides information
when required to do so by a court decision. "That's why there was
no need of search," she added.
UniCredit put its Ukrainian unit up for sale in 2014. The unit
is part of the bank's larger central and eastern European business
and was the only unit of the bank not to report a profit last
year.
In the area of Ukraine controlled by separatists, UniCredit
closed 39 branches in 2013 and 2014. The bank's Ukrainian network
has 287 branches and employs 6,100 people.
Write to Giovanni Legorano at giovanni.legorano@wsj.com
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