Europlan Q2 2026: Net Profit Soars 392.5% Despite NII Decline

Europlan reported Q2 2026 net interest income of RUB 3,937.0 million, down 29.6% YoY, while net profit surged 392.5% to RUB 2,473.2 million. The revenue decline decelerated compared to Q1 2026's -33.5%, indicating a slower pace of contraction.

YoY Growth: Q2 2026 vs Q2 2025

Key Drivers

The sharp decline in net interest income reflects ongoing pressure on leasing yields and funding costs, consistent with the trend seen in recent quarters. However, net profit surged dramatically, likely driven by lower provisioning or one-off gains, as the profit growth far outpaced the revenue trend.

Key Figures (RUB million)

Outlook

While the revenue decline is moderating, the sustainability of the profit surge remains uncertain. Investors should watch for commentary on provisioning and one-off items, as well as any guidance on leasing volumes and margins for the remainder of 2026.