Banking profits to slow in 2026, Sberbank CFO says
The rate of profit growth in the banking sector will slow down due to increased credit risk and reduced profitability, according to Deputy Chairman of the Board and Chief Financial Officer of Sberbank, Taras Skvortsov.
Consensus
- Banking sector profit growth will slow in 2026.
- Rising credit risk in corporate lending is a major challenge for the banking sector in 2026.
- Declining marginality is a significant challenge for the banking sector.
- Sberbank's CFO Taras Skvortsov made these statements at the 2026 WEF.
- The Central Bank of Russia adjusted its 2026 banking profit forecast upward to 3.9–4.4 trillion rubles.
- Banking sector net profit in Q1 was 2.3 trillion rubles, 36% higher than in the same period of the previous year.
- The Central Bank of Russia stated there are no risks to banking sector stability and that capital buffers are sufficient.
Points of divergence
- The Central Bank of Russia's revised forecast was due to the high actual margin level in Q1. — vedomosti
- Sberbank's CFO stated that the banking system has passed the peak of marginality and that a downward trend in margins is beginning. — interfax
Coverage (2 sources)
- Skvortsov: bank profits will no longer be so high due to increased credit risk — Ведомости
- Sber's deputy director general stated that the banking system has passed the peak margin — Интерфакс