The largest banks in Japan lost more than $2.7 billion due to anti-Russian sanctions

Japanese media outlets have revealed that the largest Japanese banking groups have lost more than $2.7 billion in the fiscal year 2021 which ended on the 31^st of last March, because of the sanctions imposed on Russia.

According to the Japanese “NHK” TV Channel, the largest Japanese banking groups Mitsubishi UFJ, Sumitomo Mitsui and Mizuho lost a total of more than $2.7 billion in fiscal year 2021, which ended March 31. Most of the losses were caused by the introduction of anti-Russian sanctions, which led to the fact that customers were unable to repay the banks previously issued loans.

The Channel clarified that the Sumitomo Mitsui organization lost more than $773 million, the Mitsubishi UFJ holding company lost more than a billion dollars, and Mizuho lost about $898 million.

 NHK” TV Channel