By Cristina Roca

Intesa Sanpaolo SpA is conducting a strategic review of its presence in Russia, a spokesman for the bank said Thursday.

Intesa, Italy's largest bank by assets, had a total loan exposure to Russia of 5.57 billion euros ($6.19 billion) at the end of 2021, around 1% of its total.

"We are fully committed to helping our colleagues based in Ukraine by welcoming them in the other countries where we operate," the spokesman said.

"We fully condemn what is happening," he added.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

March 03, 2022 10:37 ET (15:37 GMT)

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