Forbes: VTB Bank became the most unprofitable Russian company last year

by alex

But now it is again in the “plus”, but the “Moscow Metro” and “Russian Post” are not

Since last year, the American magazine Forbes has been publishing a ranking of the most profitable companies in Russia. This year, it included 100 companies, the rating was headed by oil and gas companies – Gazprom, Yamal LNG and Rosneft. And now Forbes decided to create an “anti-rating” and found 10 Russian companies with the biggest losses at the end of last year. The top line in it was taken by VTB Bank: its net loss in 2022 amounted to 612.6 billion rubles.

VTB believes that it suffered more from the implementation of geopolitical risks than other Russian banks due to its greater vulnerability to the risks of sanctions. At the same time, VTB returned to profitability in the fourth quarter of 2022, and in the nine months of 2023 the bank received a net profit of 375.9 billion rubles, which is already higher than the result of the entire 2021, when the profit amounted to 327.4 billion rubles.

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Forbes' anti-rating also includes Alfa Bank, Gazstroyprom, Ozon, State Transport Leasing Company (GTLK), Svyaznoy, Russian Coal, VK, Moscow Metro and Russian Post. And if Alfa Bank is already making a profit again (85.8 billion rubles for 10 months of this year), then the Moscow Metro, for example, has not reported net profit since 2016, and Svyaznoy has even launched a procedure bankruptcy.

As for Russian Post, 2022 became “catastrophic” for it, its CEO Mikhail Volkov admitted, speaking at the Federation Council in July 2023. The organization received a record loss – more than 30 billion rubles and a large accumulated debt – 133 billion rubles, while most of this debt has no sources of return and repayment, Volkov noted then. Forbes said that financial or accounting statements published by companies for 2022, as well as data from the Federal Tax Service of Russia and Rosstat, were considered as data sources for compiling the rating.

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