VTB net profit under IFRS for 8M falls 4%

TASS

MOSCOW, September 29. /TASS/. Net profit of VTB under International Financial Reporting Standards (IFRS) fell by 4% in January-August 2026 year-on-year to 314.8 bln rubles ($3.7 bln), Russia’s second-largest lender reported.

In August, net profit surged by 106.7% year-on-year to 49.2 bln rubles ($584 mln), according to the report.

"For 8M 2026, VTB Group posted a net profit of 314.8 billion rubles, delivering a return on equity of 16.7%. The key driver behind these results is the recovery in interest income: net interest margin climbed to 2.6%, up from 1% a year earlier, while net interest income grew almost 2.5-fold. Fee and commission income kept growing steadily, up 23.5% year-on-year, and the ratio of costs to income fell to 40.4%," First Deputy Chairman of the Management Board, Chief Financial Officer Dmitry Pianov was quoted as saying.

Net operating income before provisions amounted to 129.9 bln rubles in August and 941.9 bln rubles in 8M 2026, up by 90.5% and 27.5% year-on-year "against the background of an improvement in the dynamics of net interest income," the bank said. Net interest income gained 103.7% in August and 148.9% in 8M 2026 to 71.9 bln rubles and 551.9 bln rubles, respectively, in annual terms. The net interest margin amounted to 2.6% in August and in 8M 2026 compared to 1.3% and 1% for the same period in 2025.

Net fee and commission income grew by 26.2% in August and 23.5% in 8M 2026 and equaled 32.8 bln rubles and 243.4 bln rubles, respectively.

As of August 31, 2026, the assets amounted to 39 trillion rubles, up by 1.5% in August 2026 and by 5.8% year-to-date. The total loan book before provisions stood at 25.9 trillion rubles. The total loan book before provisions increased by 1.1% in August 2026 (or 0.3% growth adjusted for the effect of foreign currency revaluation) and by 5.9% since the beginning of 2026 (or 4.5% growth adjusted for the effect of foreign currency revaluation).

Customer funding from individuals added 0.7% in August 2026 and fell by 1.1% since the beginning of 2026 to 13.9 trillion rubles. Customer funding from legal entities increased by 2.7% in August 2026 (or 1.1% growth adjusted for the effect of foreign currency revaluation) and by 5.2% since the beginning of 2026 (or 2.6% growth adjusted for the effect of foreign currency revaluation). Customer funding from legal entities reached 14.6 trillion rubles as of August 31, 2026. Total customer funding amounted to 28.5 trillion rubles as of August 31, 2026, with 1.7% growth in August (or 0.7% growth adjusted for the effect of foreign currency revaluation) and 2% growth since the beginning of 2026 (or 0.6% growth adjusted for the effect of foreign currency revaluation).

The share of customer funding from individuals in the group’s total funding was 48.7% as of August 31, 2026 (compared to 50.3% as of December 31, 2025). The share of customer funding in the group’s total liabilities was 78.7% as of August 31, 2026 (81.7% as of December 31, 2025).

Fonte: TASS