Russia's banking sector profit forecast for 2026

MOSCOW, June 1. /TASS/. Russia’s banking sector is expected to post a net profit of 3.7-3.9 trillion rubles ($51.3-$54.1 bln) in 2026, Marina Chekurova, CEO and Chairwoman of the Management Board of Expert RA rating agency, said in an interview with TASS ahead of еру St. Petersburg International Economic Forum (SPIEF).

"We expect that the steady trend toward lower key interest rates will contribute to the revival of lending activity, supporting growth in net interest income. Additional support for profits may continue to come from the positive revaluation of debt securities, including OFZs. We expect the sector to earn 3.7-3.9 trillion rubles by the end of 2026," she said.

Chekurova added that banks maintained a high level of profitability during the first quarter of 2026. At the same time, a significant contribution to financial results came from the revaluation of OFZs amid the decline in the key interest rate, she concluded.

The Central Bank raised its forecast for Russian banks’ net profit in 2026 to 3.4-3.9 trillion rubles ($47.1-$54.1 bln). Previously, the regulator expected the figure to range between 3.3-3.8 trillion rubles ($45.8-$52.7 bln).

At its April 24 meeting, the regulator lowered the key interest rate by 0.5 percentage points to 14.5%.

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

The agenda includes the SME Forum, the Creative Industries Forum, the International Youth Forum "Day of the Future," and the Pharmaceutical Security Forum. The cultural program will feature the Petersburg Seasons festival, as well as the traditional SPIEF Sports Games.

The forum is organized by the Roscongress Foundation. TASS is the forum’s general information partner.