ST. PETERSBURG, June 5. /TASS/. Russia’s banking sector could achieve record profits of up to 4.1 trillion rubles (55.8 bln) in 2027, First Deputy Chairman of Board of VTB Dmitry Pianov told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"Our forecast for banking sector profits is 3.6-3.9 trillion rubles in 2026, and up to 4.1 trillion rubles in 2027. These profits will only grow in future periods. The 2024 record could be broken as early as in 2027-2028," he said.

Earlier, Pianov said in an interview with TASS ahead of the SPIEF that this year’s profit of the Russian banking sector was expected in the range of 3.6-3.9 trillion rubles.

He also noted that the bank itself, as part of its new strategy for the next three years, would aim to achieve a trillion-dollar net profit.

The St. Petersburg International Economic Forum is taking place on June 3-6. This year’s theme is "Pragmatic Dialogue: the Path to a Stable Future." The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.