The net profit of Mastercard’s (NYSE:MA) Russian subsidiary RBSU in 2021 increased by 12% to 7.5 billion rubles, according to the company’s financial statements.

Mastercard’s revenue grew by 50% to 23.7 billion rubles in 2021. The cost of sales increased by 32%, to 12.2 billion rubles.

Mastercard’s accounts payable increased by 23.5% to 1.1 billion rubles in 2021.

As reported, Mastercard received about 4% of revenue from Russia at the end of 2021.

In early March, Mastercard announced the suspension of work in Russia due to the situation in Ukraine. Since March 10, Mastercard cards issued in Russia do not work abroad and are not accepted for payment in foreign online stores. Such cards continue to work in the country, as transactions on them are processed by the National Payment Card System.