Russia's second-largest bank VTB, one of the first banks to be excluded from the SWIFT global payments system over Moscow's invasion of Ukraine, reported a loss of 612.6 billion rubles ($7.7 billion) for 2022 on April 5. "In 2022 the VTB group faced unprecedented hardships and challenges.... We were the first target for the maximum sanctions possible, which led to significant losses," the bank's chief financial officer Dmitry Pianov said in a statement.
Editors' Picks
RFE/RL has been declared an "undesirable organization" by the Russian government.
If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.
To find out more, click here.