The company spent $25 million to support its staff in Russia and Ukraine.
Visa has suffered losses in the amount of $ 60 million due to the suspension of activities in Russia. The relevant data is contained in its quarterly reports.
The company’s revenue for the three-month period ended March 31 totaled $7.2 billion and increased by 25% compared to the same period in 2021. Visa’s net profit amounted to $3.6 billion and also grew year-on-year – by 21%.
At the same time, the company noted that over the past three- and six-month period, Visa “suffered administrative losses in the amount of $35 million as a result of the deconsolidation of a subsidiary in Russia.” “We also spent $25 million to support our staff in Russia and Ukraine,” the company noted, stressing that over the past six months Visa received only 4% of its revenue as a result of activities in the territory of the Russian Federation.