VTB Bank took first place among the companies that suffered the biggest losses at the end of the last financial year.

“VTB, the second largest bank in Russia, suffered record losses of 612.6 billion rubles and took first place in the ranking,” the magazine says.

The management of this financial and credit corporation previously stated that they suffered from geopolitical risks more than other Russian banks due to their greater vulnerability to the risks of sanctions.

Generally top 10 most unprofitable companies in Russia according to Forbes is as follows:

VTB;
Alfa Bank;
“Gazstroyprom”;
Ozon;
STLC;
“Network Svyaznoy”;
“Russian Coal”;
VK;
“Moscow subway”;
“Post office”.

The publication draws attention to the fact that out of the ten most unprofitable Russian enterprises, six are owned or controlled by the state, indirectly through shares in the authorized capital.