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Russian banking sector may post record profit in 2026 — VTB

First Deputy President and Deputy Chairman of the Management Board Dmitry Pyanov said it was not possible to surpass the record last year

MOSCOW, May 27. /TASS/. The Russian banking sector’s profit by the end of 2026 is expected to range between 3.6 trillion rubles ($50.64 bln) and 3.9 trillion rubles ($54.86 bln), VTB First Deputy President and Deputy Chairman of the Management Board Dmitry Pyanov said in an interview with TASS ahead of the St. Petersburg International Economic Forum (SPIEF).

"The banking sector’s record profit was posted in 2024 at 3.8 trillion rubles. It was not possible to surpass that record last year. Our forecast for this year is 3.6-3.9 trillion rubles," he said.

"VTB is projected to earn 600-650 bln rubles, while Sber may reach the two-trln-ruble mark. If two players accounting for 20% and 50% of the sector are moving toward record results, then the probability that the entire sector will also reach a record is high," Pyanov added.

At the same time, the banker identified additional reserve provisioning for companies facing problems with their financial models amid a prolonged period of high key interest rates as among the risks that could prevent the sector from setting a new record.

Earlier, the Bank of Russia raised its 2026 profit forecast for the banking sector to 3.4-3.9 trillion rubles ($47.83-54.86 bln) from 3.3-3.8 trillion rubles ($46.42-53.46 bln).

The St. Petersburg International Economic Forum will take place on June 3-6. The forum’s program will focus on shaping a new model of global development amid the transformation of the world economy.

The forum is organized by the Roscongress Foundation. TASS is the general media partner.

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