VTB does not expect a noticeable increase in the profit of the banking sector
According to the results of eight months of 2026, VTB Group earned 314.8 billion rubles of net profit, providing a return on capital of 16.7%, first deputy chairman of VTB Dmitry Pyanov told reporters. The main driver of the results "is the recovery of interest income: net interest margin was 2.6% against 1.0% a year earlier, and net interest income increased by almost 2.5 times," the top manager explained.
According to the results of eight months of 2026, VTB Group earned 314.8 billion rubles of net profit, providing a return on capital of 16.7%, first deputy chairman of VTB Dmitry Pyanov told reporters. The main driver of the results "is the recovery of interest income: net interest margin was 2.6% against 1.0% a year earlier, and net interest income increased by almost 2.5 times," the top manager explained. Commission revenues rose 23.5 percent and the cost-to-income ratio fell to 40.4 percent.
At the same time, according to Mr. Pyanov, in the next three years, the profit of the banking sector should be expected in the range of 3.8-4.5 trillion rubles. and significant growth in VTB is not predicted. According to the top manager, “slowing down the key rate and competition for customers can slow the growth of the net interest margin of banks, and in the case of some market players, lead to its decline.” In addition, according to him, the growth of profit due to the increase in the portfolio can be offset by high contributions to reserves. In early September, the Bank of Russia raised the forecast of net profit of Russian banks for 2026 from 3.4-3.9 trillion rubles to 3.9-4.4 trillion rubles. At the same time, in 2027, the regulator expects a net profit of 3.7-4.2 trillion rubles.
Finance Division
