VTB Net Profit Down 12.7% YOY for Jan–Jul 2026
VTB's net profit under IFRS for the first seven months of 2026 was 265.6 billion rubles, a 12.7% decrease compared to the same period in 2025, despite growth in operational income and interest margins. The bank reported a rise in non-performing loans and increased provisions, with the CEO stating progress toward meeting 2026 strategic goals.
Consensus
- VTB's net profit for January–July 2026 under IFRS was 265.6 billion rubles.
- This represents a 12.7% decline compared to the same period in 2024.
- Net operating income before reserves increased by 21.1% year-on-year to 812 billion rubles.
- Net interest income rose by 157.5% year-on-year to 480 billion rubles.
- Net commission income increased by 23.1% year-on-year to 210.6 billion rubles.
- The bank's net interest margin reached 2.6% for the period, up from 1.1% in the same period of the previous year.
- The total credit portfolio amounted to 25.7 trillion rubles, a 4.7% increase year-on-year.
- The cost of risk remained unchanged at 0.9% for the seven-month period.
- The ratio of loans to client funds (LDR) was 86.7% as of July 31, 2026.
- The share of non-performing loans (NPL) in the total credit portfolio was 3.6% as of July 31.
- Provisions for credit risk amounted to 143.7 billion rubles for the period, a 20.8% increase year-on-year.
- The return on equity (ROE) for the seven months was 16.2%.
Points of divergence
- The net interest margin in July reached 2.7%, up from 1.1% a year earlier. — interfax
- Net interest income in July increased 1.9 times year-on-year to 74.4 billion rubles. — interfax
- Net commission income in July increased by 36.5% year-on-year, reaching 34.8 billion rubles. — interfax
- Provisions for credit risk in July were 20.4 billion rubles, up from 9.2 billion rubles in July 2025. — interfax
- The cost of risk in July was 0.8%, down 30 basis points from the previous year. — interfax
- The share of NPL in the corporate loan portfolio rose to 2.7% from 2.6%, due to one construction sector loan. — interfax
- ROE for July was 16.8%, up 6.5 percentage points year-on-year. — interfax
- The share of non-performing loans in the total credit portfolio was 3.5% as of December 31, 2025. — vedomosti
- The coverage of non-performing loans by reserves decreased to 147.8% from 149.1% as of December 31, 21025. — vedomosti
- The credit portfolio for legal entities increased by 0.7% in July and by 8.7% year-to-date. — vedomosti
- The retail credit portfolio decreased by 1.1% in July and by 4.7% year-to-date, totaling 7.0 trillion rubles. — vedomosti
- The stock price of VTB was 50.94 rubles at 11:05 MSK, up 0.21% from the previous close, but down 10.12% over the month. — vedomosti
Coverage (3 sources)
- VTB's net profit under IFRS fell by 13% over seven months — Коммерсантъ
- Net profit of VTB for seven months according to IFRS decreased by 12.7% year over year — Ведомости
- VTB increased net profit by IFRS in July by 1.7 times to 40.4 billion rubles — Интерфакс