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Stock impact report

A banking crisis made in the Kremlin is gripping Russia [Yahoo! Finance]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Yahoo! Finance
The biggest lender to Russia's defence companies is in free fall. Two years ago, Promsvyazbank (PSB) was raking in cash as it bankrolled Vladimir Putin's war machine. Now, four years after the Ukraine conflict began, it is haemorrhaging hundreds of millions of dollars. In 2025 alone, it recorded a loss of 19.2bn rubles (£190m) after setting aside 300bn rubles to cover soured loans. Typically, losses of this nature could be attributed to a flawed corporate strategy. However, many believe PSB is on the front line of a breakdown in Russia's financial system as a defence-fuelled borrowing binge hits a wall. Even beyond weapons makers, experts predict that Russia's banks are grappling with a debt bomb lurking in the economy. Vladimir Milov, an exiled opposition politician who was formerly a deputy energy minister under Putin, says: “We are already formally under the criteria of a banking crisis. The only thing that is missing is a bank run.” Russian central bank data show bank Show less Read more
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