UniCredit's Ukraine unit says temporarily limits cash withdrawals

by Reuters
Monday, 3 March 2014 11:34 GMT

MILAN, March 3 (Reuters) - The Ukrainian unit of Italy's biggest bank by assets, UniCredit, said on Monday it had temporarily limited operations on cash withdrawals from ATMs after a request by the local central bank due to escalating tensions between Ukraine and Russia.

In a statement on the bank's website, UniCredit Bank - the Ukrainian subsidiary of UniCredit - said the sum of cash for withdrawal for each card had been limited to UAH 1,500 hryvnia per day.

Cash withdrawals at UniCredit's Bank using cards issued by other banks were limited at 500 hryvnia per day.

"We are stressing that these measures are taken exclusively to provide all the bank's clients with ATM service," the statement said, adding the limits would be lifted as soon as the situation returned to normal.

A spokesman for UniCredit in Milan said the move followed a request by the Ukrainian central bank last week.

"All banks have spontaneously complied with the request," the spokesman said. (Reporting by Paola Arosio)

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