Mastercard lost $30 million in 2022 due to withdrawal from Russia
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The international payment system Mastercard lost $30 million in 2022 due to the suspension of activities in Russia, reported company in 2022 financial statements
“A net loss before tax for the full year of 2022 of $30 million is directly related to the sanctions imposed and the suspension of our activities in Russia,” the report says.
Mastercard clarified that in total, the company’s losses due to leaving the Russian Federation amounted to $67 million. They are mainly related to additional staff costs. However, Mastercard took into account a profit of $37 million received by the company due to the reduction of obligations due to the suspension of activities in the country.
According to financial statements, Mastercard’s net income for 2022 grew by 14%, to $9.9 billion.
March 6 Visa and Mastercard reported on the suspension of activities in Russia. Transactions on their cards are also no longer available outside the Russian Federation. At the same time, this did not affect the operation of bank cards in Russia, because the processing of transactions was continued with the help of NSPK Mir.
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