Losses grow by regions // Ural Bank for Reconstruction and Development reported on the impact of sanctions on business

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The Ural Bank for Reconstruction and Development (UBRD), which is in the top 30 in terms of assets in the Russian Federation, reported on receiving 8.7 billion rubles in 2022. loss, with a net profit of more than 1 billion rubles. a year earlier. The bank cites “currency transactions and currency revaluation” as the reason for the imposition of Western sanctions. The loss could have been generated by derivative financial instruments (PFIs), experts specify. Shareholders have already supported the bank with a non-refundable contribution covering the loss.

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