Bank Sankt-Peterburg Q1 2026: NII Declines, Profit Rebounds Sequentially but Down YoY
Bank Sankt-Peterburg reported Q1 2026 net interest income of RUB 18,367M, down 7.8% YoY, and net profit of RUB 10,911M, down 29.7% YoY. Revenue growth decelerated from -3.4% in Q4 2025 to -7.8% in Q1 2026, reflecting continued pressure on net interest income.
Q1 2026 YoY Growth (%)
What drove the result
The decline in net interest income was the primary drag, with NII down 7.8% YoY, a sharper fall than the 3.4% decline in Q4 2025. Net profit fell 29.7% YoY, though it rebounded strongly from the Q4 2025 level of RUB 4,432M, more than doubling sequentially. Equity increased to RUB 227,827M from RUB 216,974M a year ago, supporting capital strength.
Key figures
| Metric | Prior | Latest | Change |
|---|---|---|---|
| Net interest income | 19,928 | 18,367 | -7.8% |
| Net profit | 15,527 | 10,911 | -29.7% |
| Equity | 216,974 | 227,827 | +5.0% |
Outlook
The sequential rebound in net profit from Q4 2025 suggests some stabilization, but the continued contraction in NII warrants caution. With equity growing and no guidance provided, we watch for management's commentary on margin trends and loan growth in the coming quarters.
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