Shares of Russian VTB fell to a historic low after strikes on Wildberries and Ozon
Shares of the Russian state bank VTB fell to a historic low and for the first time dropped below their nominal value. Additional pressure on the bank is created by its financial ties with Wildberries and Ozon, whose infrastructure suffered drone strikes.
On the Moscow Exchange on August 26, shares of Russia's second-largest bank by assets fell to 49.86 rubles per share. The nominal value of the paper is 50 rubles. VTB quotes lost about 3% over the day, 11% since the start of August, and 45% since the beginning of 2026.
Compared with the highs of 2015, the bank has lost about 88% of its market capitalization, or approximately 4.7 trillion rubles. The Moscow Times estimates VTB's current value at about 646 billion rubles, or $7.7 billion.
Strikes on Wildberries created new risks for VTB
An additional problem for the bank are its ties with Russian marketplaces. In late May, VTB announced a strategic partnership with Wildberries. Already in the summer, a number of the company's logistics centers suffered drone attacks.
Analysts at the Russian investment company Solid Investments, cited by The Moscow Times, believe that obligations related to Wildberries may worsen VTB's situation. According to the publication's estimate, the marketplace has lost a significant part of its warehouse capacity in recent months and suffered major direct losses.
On the night of August 26, in particular, after an attack, a large logistics hub of Wildberries in Kotovsk, Tambov Oblast, was destroyed. The fire area exceeded 100,000 square meters. Earlier attacks also damaged other company warehouses in various regions of the Russian Federation.
The bank is also linked to Ozon
VTB's financial risks are also linked to Ozon. The bank received a stake in the marketplace as collateral for a loan to Sistema, which owns a large share in the company.
Since the beginning of summer, Ozon shares have fallen by about 45%. According to analysts, VTB may potentially need to expand the credit line for the company, which will create additional burden on the bank.
VTB's profit is also shrinking
The fall in shares comes amid deteriorating financial performance of the bank itself. The share of problem assets on VTB's balance sheet has grown to 14.2%, roughly a third higher than the average for the Russian banking system.
In the first half of 2026, VTB's profit decreased by 20%, to 225.2 billion rubles. In the second quarter, the decline was 34%, to 92.6 billion rubles. The bank also increased reserves for problem loans by almost a third, to 66.5 billion rubles for the quarter.
VTB's capital buffer is meanwhile close to minimum regulatory requirements: the indicator stood at 10.7% against a minimum acceptable level of 10%. In late July, the bank's management also announced plans to cut about 10% of the head office staff to reduce costs.
Source: The Moscow Times
