VTB reported a net profit of 225.2 billion rubles under IFRS for the…
VTB reported a net profit of 225.2 billion rubles under IFRS for the first half of 2026, which is 19.8% lower than the same period in 2025. In the second quarter, the bank's profit amounted to 92.6 billion rubles, a decrease of 33.6% year-on-year.
Consensus
- VTB is conducting a 10% optimization of personnel in its head office.
- The optimization is part of efforts to reduce administrative and management expenses.
- The goal is to achieve a cost-to-income ratio below 40% for the year 2026.
- As of the first half of 2026, the cost-to-income ratio was 41.5%.
- The process will be completed by the end of 2026.
- The optimization is not described as mass layoffs.
- It involves voluntary separation with mutually beneficial conditions.
- The measure is expected to have a positive effect on financial performance, particularly on cost-to-income ratio and profitability.
Points of divergence
- VTB reduced its full-year profit forecast from 600–650 billion rubles to 600 billion rubles. — kommersant
- VTB's net profit for the first half of 2026 decreased by 19.8% year-on-year and amounted to 225.2 billion rubles. — kommersant
- In Q2 2026, VTB's profit declined by 33.6% year-on-year, reaching 92.6 billion rubles. — vedomosti
- VTB's non-interest income before provisions in Q2 increased by 39.4% year-on-year to 321.4 billion rubles. — vedomosti
- VTB's net interest income in Q2 rose by 121.7% to 208.8 billion rubles, and increased by 176.3% for the first half of the year. — vedomosti
- The cost-to-income ratio reached 44.7% in Q2 2026 due to weak results in financial instruments. — interfax
Coverage (3 sources)
- VTB to cut 10% of staff for cost and expense balance — Коммерсантъ
- VTB to optimize the head office staff by 10% — Ведомости
- VTB to Conduct 10% Staff Optimization at Head Office — Интерфакс