VTB (VTBR) stock in 2026: dividends, earnings and outlook
As of Nov 6, 2026, VTB (VTBR) trades at RUB 56.58 per share, P/E 2.4x, trailing dividend yield 17.2%. Our latest review (Oct 30, 2026): neutral. Below: Q3 2026 results, dividends paid and expected, and valuation. All figures come from the company card on the Frontier portal.
VTB: Финансы listed on the Moscow Exchange, covered by the Frontier portal.
What the latest review says
The full review with charts and calculations was published on the portal on Oct 30, 2026, VTB 3Q 2026: net income RUB 182 bn, but more than half came from one-off income, and the RUB 87 share issue is.
VTB quarterly results
VTB, IFRS figures for the period
| Period | Net interest income, RUB bn | YoY | Net profit, RUB bn | YoY |
|---|---|---|---|---|
| Q3 2025 | 121.1 | -9.6% | 100.1 | 2.2% |
| Q4 2025 | 165.7 | 154.9% | 122.9 | -30.8% |
| Q1 2026 | 196.8 | 274.1% | 133.1 | -5.9% |
| Q2 2026 | 208.8 | 121.7% | 92.9 | -33.6% |
| Q3 2026 | 219.8 | 81.5% | 182.3 | 82.1% |
In Q3 2026: net interest income RUB 219.8 bn (+81.5% YoY), net profit RUB 182.3 bn (+82.1% YoY). The full period table, balance sheet and cash flow are on the VTB card.
VTB dividends, paid and expected
VTB dividends by ex-dividend year, RUB per share
| Year | RUB per share |
|---|---|
| 2018 | 8.34 |
| 2019 | 2.65 |
| 2020 | 1.86 |
| 2021 | 3.38 |
| 2025 | 25.58 |
| 2026 | 9.71 |
Over the last 12 months the company paid RUB 9.71 per share, a 17.2% yield. The portal's dividend-potential model expects RUB 9.71 for the financial year (RUB 9.71 already paid or declared), a 17.2% forward yield at a 14% key rate. This is a model output, not an analyst forecast.
- Paid RUB 9.71 per share, ex-date Jul 17, 2026
- Paid RUB 25.58 per share, ex-date Jul 10, 2025
- Paid RUB 3.38 per share, ex-date Jul 13, 2021
VTB preferred shares (VTBRP)
The VTBRP preferred shares trade at RUB 0.10 as of Nov 6, 2026, 99.8% below the ordinary shares. Their market value is RUB 521.4 bn. Preferred dividends are not tracked separately in the portal database.
VTB valuation by multiples
VTB (VTBR), multiples as of Nov 6, 2026
| Metric | Value |
|---|---|
| P/E (LTM) | 2.4x |
| P/B | 0.5x |
| ROE | 15.4% |
| Dividend yield, LTM | 17.2% |
| Market cap | 1257.8 bn RUB |
LTM net interest income RUB 791.1 bln, net profit RUB 531 bln. Peer comparison and P/E history are on the company card.
Is VTB stock worth buying
As of Oct 30, 2026 our answer is "neutral". The review's key theses, by its headings.
- Net income RUB 182 bn: the core delivered RUB 109 bn before tax, the rest came from securities, FX and disposals
- The net interest margin nearly doubled in a year, but falls short of the 3% guidance
- Loans: corporates +11%, retail -5%, cost of risk 1%
- Capital: a 0.5 pp buffer over the minimum, and this is the main limit on dividends
- The RUB 600 bn guidance requires RUB 192.5 bn in 4Q
The verdict is as of the review date and is revisited after the next report. Any purchase decision depends on the investor's goals and horizon.
FAQ
When is the next VTB dividend? The latest payment was RUB 9.71 per share, ex-date Jul 17, 2026. No new payout has been declared yet.
What dividend is expected from VTB? The portal model expects RUB 9.71 per share for the financial year, a 17.2% forward yield.
Is VTB stock worth buying? Verdict of our latest review (Oct 30, 2026): neutral. Quarterly net income rose 1.8 times to RUB 182.3 bn, return on equity was 24.8%. But RUB 122.5 bn of the RUB 231.9 bn pre-tax profit came from securities revaluation, FX operations and the sale of subsidiaries.
What did the latest VTB report show? In Q3 2026: net interest income RUB 219.8 bn (+81.5% YoY), net profit RUB 182.3 bn (+82.1% YoY).
Other Финансы companies on the portal: Sberbank (SBER), Sovcombank (SVCB), Moscow Exchange (MOEX), DOM.RF (DOMRF).
Author: Kirill Kuznetsov, investment adviser (Bank of Russia register No. 236 of 29.01.2024)*, Enhanced Investments channel.
- VTB card on the Frontier portal
- Review, Oct 30, 2026
- Dividends and prices: Enhanced Investments EI1 database, Moscow Exchange
- Russian stocks: dividends, outlook and earnings 2026
Open the company's financial profile VTBR →
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