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EBRD warns war in Ukraine will impact 2022 finances, after record profit

Published by
Reuters UK

By Rachel Savage LONDON (Reuters) – The European Bank for Reconstruction and Development said on Thursday that Russia’s war in Ukraine would have a significant impact on its finances this year, as it reported its highest ever profit in 2021. The EBRD, which on Monday suspended Russia and Belarus from access to its financing, said in a statement that its profit of 2.5 billion euros ($2.72 billion) last year beat its previous record set in 2006. It attributed this to “excellent performance” of its equity and technology investments, plus a reduction in non-performing loans as economies recovered …

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