The war in Ukraine will have a significant impact on the EBRD's finances this year, Reuters reports.

The European Bank for Reconstruction and Development, which on Monday suspended Russia and Belarus' access to its funding, said its €2.5bn profit last year beat the previous record set in 2006.

However, the bank warned of the impact on its finances of the war in Ukraine, to which it is providing a €2 billion support package.

The war in Ukraine is likely to have a significant impact on financial performance in 2022, the EBRD said in a statement.

The EBRD has a large portfolio of investments and shareholdings in Ukraine, as well as portfolios in Belarus and Russia.

At the end of 2021, the EBRD had loans of €2.1 billion in Ukraine, €0.2 billion in Russia and €0.5 billion in Belarus, as well as equity investments of €0.3 billion, €1.2 billion billion and 0.1 billion euros respectively.