The bank explained such losses by Western sanctions, the blocking of foreign assets, the volatility of the ruble exchange rate and a sharp increase in the main rate in the Russian Federation.
The Russian state bank VTB suffered a record loss in 2022. This was announced by its press service on Wednesday, April 5.
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VTB lost 756.8 billion rubles (over $9.5 billion) under Russian accounting standards and 613 billion rubles (over $7.7 billion) under international standards.
The bank explained such losses by Western sanctions, the blocking of foreign assets, the volatility of the ruble exchange rate and a sharp increase in the main rate in the Russian Federation.
At the same time, almost a quarter of the losses, or 229 billion rubles, were losses from the disposal of subsidiaries of VTB Group. The main part of the losses fell on VTB Bank Europe and the British VTB Capital Plc. VTB, after falling under UK and EU sanctions, lost control over these structures.
Rana sold the main office of VTB Bank in Kyiv for almost 300 million Hryvnias. The building is located in the center of the capital – at the corner of Pushkinskaya street and Shevchenko boulevard.
The losses of the Bank of Russia in 2022 increased 27 times
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.