Russia’s VTB Bank announced record losses | Message bot

This is a machine translation of an article from Online newspaper Korrespondent.net. The translation has not been verified or edited and the spelling of names and geographic designations does not correspond to that elsewhere Ukraine News Terms used.

Russian state VTB The bank reported record losses for 2022. This was announced by the bank’s press service on Wednesday, April 5th.

losses VTB It amounted to 756.8 billion rubles (more than 9.5 billion dollars) according to Russian accounting standards and 613 billion rubles (more than 7.7 billion dollars) according to international standards.

The bank attributed these losses to Western sanctions, the freezing of foreign assets, the volatility in the ruble and the sharp rise in Russia’s key interest rate.

Almost a quarter of the losses, namely 229 billion rubles, were losses from the sale of subsidiaries to VTB-group. Most of the victims were in VTB Bank of Europe and the British VTB Capital plc. the VTB He lost control of these structures after UK and EU sanctions hit him.

Previously, it was the main office VTB A bank in Kiev was sold for nearly 300 million hryvnia. The building is located in the very center of the capital, on the corner of Pushkinska Street and Shevchenko Street.

The Bank of Russia’s losses increased 27-fold in 2022.

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