Shares of the Russian state-owned bank VTB fell to an all-time low on Wednesday, August 26, after strikes on the warehouses of the Wildberries and Ozon marketplaces, with which the bank is associated. The Moscow Times writes about this, reports UNN.
Details
On the Moscow Exchange, VTB shares fell to 49.86 rubles per share, dropping below the nominal value of 50 rubles for the first time. During the day, the shares fell by 3%, since the beginning of August by 11%, and since the beginning of 2026 by 45%.
Compared with its 2015 highs, VTB has lost 88% of its market capitalization, or about 4.7 trillion rubles. The bank, with assets of 35 trillion rubles, is currently valued at approximately 646 billion rubles, or $7.7 billion.
The decline in the share price is being driven by VTB's obligations related to Russia's largest marketplaces. At the end of May, the bank announced a strategic partnership with Wildberries, after which drone strikes destroyed about one-third of the company's warehouse capacity, while direct losses reached several hundred billion rubles.
Marketplace losses put pressure on the bank
VTB is also linked to Ozon. The bank received a stake in the marketplace as collateral for a loan to Sistema AFC, which owns a significant stake in Ozon. Since the beginning of summer, Ozon shares have fallen by 45%, and according to an estimate by Solid Investments IFC, VTB may need to expand the company's credit line.
The bank's financial performance is also deteriorating. In the first half of 2026, VTB's profit fell by 20% to 225.2 billion rubles, while in the second quarter the decline was 34%, to 92.6 billion rubles. During this period, the bank increased provisions for problem loans by almost one-third, to 66.5 billion rubles.
At the same time, VTB's share of non-performing assets rose to 14.2%, which is more than one-third higher than the average for Russia's banking system. The bank's free capital buffer fell to 10.7%, compared with a minimum permissible level of 10%, and at the end of July VTB announced a 10% reduction in head-office staff.