Mastercard lost $30 million due to withdrawal from Russia
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The total loss of the Mastercard payment system due to the withdrawal from Russia amounted to $67 million, according to the company’s financial report. At the same time, $37 million was compensated by reducing liabilities to Russian customers.
“The loss before tax for the whole of 2022 of $30 million was directly related to the sanctions imposed and the suspension of our activities in Russia,” the document says (.pdf).
At the same time, the total net profit of Mastercard for 2022 increased by 14%, to $9.9 billion. That is, the losses from leaving Russia amount to approximately 0.3% of the group’s net profit.
On March 6, 2022, the international payment systems Visa and Mastercard announced the suspension of their activities in Russia. One of the main consequences of the withdrawal of companies from the market is the termination of the work of cards issued in Russia outside the country.
On the consequences of the departure of international payment systems from Russia – in the material “Kommersant” “Cards on the table!”
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